Real Estate Auction goes Gang Buster

http://www.propertymob.com ...ask your burning questions on anything to do with real estate, wholesaling or ....fashion. We take your questions and answer them on the property MOB videos. This was a special video on a recent auction we did to move a property in 5 days. http://www.PropertyMOB.com ...check it out for back episodes.

Category:

People & Blogs

Tags:

• real estate auction
• round robin
• auction of a short sale

[estateauctions]

This is a wannabe auctioneer with no clue about the auction method of selling. Looks like a realtor scam to try to get sellers to commit to another list and continuously reduce method of selling trying to make it look like an auction when it is nothing more than a contingent sale with multiple offers. It will not take long for them to be found out for what they are. How apropos their website name and the connotations of the mob - criminal, extortion, etc. Sellers will figure them out soon.

[propertymob]

@estateauctions this is called a Round Robin Auction you dumbass. The winning bidder did get a fully executed contract with the seller. Because it was for less than what was owed on the mortgage, it did have to be approved by the lender. This will all fully disclosed prior to anyone bidding.

[RaystonZiplines]

I agree with the EstateAuctioneer! The response to the EstateAucitoneer is utterly unprofessional & demonstrates an arrogance & demeanor that proves that you would NEVER want to have business dealings with them. I did some reading about what is an auction. The propertymob even says they are using a real estate contract which is NOT using the Uniform Commercial Code to transact these sales so it is truly NOT an auction. Ask to see their license! These people are agents and/or realtors! Watch Out!

[EstateAuctioneer]

This is NOT an AUCTION! It is a contingent sale with multiple offers. The hammer NEVER fell & this property was NOT struck off as SOLD! She even says about taking offers to the bank for approval. A legitimate Auction does NOT have contingencies. The auctioneer calls for bids with the price increasing and when the auctioneer declares SOLD the contract is consummated, it is a done deal. This is an example of a realtor wanting to disguise a private treaty sale calling it an auction when it is not.