Our auction team determines the starting bid based on established formulas. These formulas consider the list price, reserve price, previous bid amounts, and the property's geographic location to arrive at a starting bid below the reserve price.

If the property is vacant and has a listing agent assigned, you can request to view the property. You can find the agent's contact information on the property's detail page. To view a property, please get in touch with the listing agent.

Please note that if a property is occupied, it cannot be accessed or viewed. Pay attention if a property's detail page states that it cannot be accessed or viewed. If the property is vacant and the seller has added a lockbox, the listing agent may give the lockbox code to a bidder's real estate agent. Only a licensed real estate agent can request the lockbox code and help you gain entry to view the property.

It is illegal to trespass on any property if it is occupied, so there is no way to view it. A property being occupied is one reason why sellers may ask for "Cash Only" offers, as a lender would require an inspection and appraisal, which are not possible if the property is occupied.

Conducting due diligence involves estimating the value of a property, assessing renovation costs, inspecting the physical property, obtaining a title report, and researching the surrounding neighborhood. If the property is vacant, you should visit to assess items needing repairs before the auction.

The Reserve Price is the minimum amount accepted by a seller. Most properties have an established Reserve Price, although there are occasions when a winning bidder can be declared even if the Reserve Price isn't met. This occurs when a property is sold "subject to" the seller's approval. Sometimes, sellers sell a property for less than the Reserve Price.

The Opening Bid represents where the bidding will kick off; however, it does not signify the Reserve and might not align with what a Seller is willing to accept as an offer.

There are no inspection, financing, or appraisal contingencies.

Commissions vary from property to property. Check the property details page for details.

Currently, the Seller only accepts offers placed as bids through the auction process.

If you are outbid for a property, you should receive an email notification indicating that you have been outbid. In addition, you can always look at the property's details page or your bidding screens to see if you are the current high bidder.

To ensure fairness, our system automatically extends the auction ending time by five minutes any time the bid price is raised with less than five minutes remaining. This helps eliminate last-second bidders who attempt to snipe the bids.

A bid extension feature, also known as anti-sniping, extends the closing time of an auction when a bid is placed in the last few minutes. The goal is to give other bidders time to place a higher bid before the auction ends. The process continues until no more bids are placed within the specified time, and then the auction closes.

The Max Bid feature empowers bidders to enter their highest bid for a property. If the current bid is below the reserve price, the bid will automatically increase to the maximum bid amount. If the bid surpasses the reserve price, the auction system will place proxy bids on behalf of the bidder, ensuring that their bid remains competitive up to their maximum amount. This feature allows bidders to actively participate in the auction without the need for constant monitoring.

Title will be conveyed to the buyer via Quitclaim Deed or its equivalent and with no express or implied warranties of title. The buyer may purchase title insurance at their own cost.

When you successfully win an online auction property on Homes4purchase.com, please remember that you will need to cover the final bid amount, buyer's premium, and all applicable closing costs, dues, taxes, and fees, including title insurance. Conducting thorough due diligence on any potential purchase is crucial to understand the possible liabilities that may persist after the foreclosure process.

Many of our properties are eligible for financing. However, it's important to note that there are no financing contingencies, so bidders must have their financing in place before placing a bid for an online property. There are also no appraisal contingencies. Additionally, some properties may not allow or provide access for inspections required for financing, which may disqualify them from being financed.

The seller may choose to negotiate with bidders even if the reserve price isn't met. The high bidder will be allowed to submit their highest and best bid for consideration.

Yes, if you are the high bidder on a property, you'll need to show proof of funds or pre-qualification documents.

The utilities for all our properties are currently disconnected. Regardless of inspections or appraisals, utilities cannot be turned on prior to closing. The buyer is responsible for utility transfer post-closing.

Yes, you can purchase the property as a separate entity, such as a Limited Liability Company or a Trust, but you'll have to provide specific documentation.

If the Seller accepts the final bid amount, the high bidder will receive an email with a digital questionnaire that must be filled out so that we can create the purchase contract. The required information includes the buyer's and agent's contact information and the source of funds.