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08-11-2010, 10:48 PM #1
Renter
- Join Date
- Aug 2010
- Location
- Malaysia
- Posts
- 3
Property Auctions
I'm a real estate student. I'm doing a dissertation for my final year project. I really need opinions on property auctions because I think I would do this topic for my dissertation.
Is it a myth that a property auctions are the place to go for cheap property?
Are auctions the best indicator and way to evaluate the current state of the property market?
Thanks.
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08-18-2010, 07:56 AM #2
Condominium
- Join Date
- Jul 2010
- Posts
- 294
There is really a lot of misunderstanding when it comes to property auctions and it can get a bit confusing because of the factors that go into it. For a long time, property auctions were seen as an investor goldmine for finding and procuring cheap real estate property. But this is not always the case, when we are in a hot market, "investors" flood the market looking for deals and oftentimes run to autions to buy there property. When there are a bunch of greedy, and not so practiced, investors they oftentimes bid up the price and I have personally seen "investors" investing in property for over market value because the price was bid up so high.
But if you are a seasoned investor who has done his/her homework, knows their max allowance for purchase price, how much money that needs to go into the property and such then auctions can still be a great way to purchase property - really depends on how it is done....hope you can read it....kind of just shot that out without revision - good luck!
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08-24-2010, 02:46 PM #3
Fixer Upper
- Join Date
- Aug 2010
- Posts
- 16
forget it, the auction house has people on the payroll in the crowd bidding up the price. go to the bank and get them and skip the greedy sharks who trick the public. think ebay. lol
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