many of the banks want a $1,000 earnest deposit, is there anyway i can place $0 for earnest deposit
The websites I’ve seen for online bidding have you enter a credit card for the deposit. I don’t think there’s any way around that. I guess that’s not to say you have to necessarily use your own credit card, but you’ll need something to make that deposit.
Justin have you ever tried online bidding, and have you tried online bidding on property in another state “Sight unseen” from the comfort of your home
Yes, I have bought a house thru an online auction. It was in my town and I was able to go check it out prior to bidding. Occasionally some of the houses listed on the MLS here end up being on an auction site. That particular auction was one where I was able to register as a bidder and do the bidding myself. I’ve bought other houses thru HUD which were online auctions, but only Realtors could bid on my behalf.
I’ve not bought a house online sight unseen. Pictures, or lack thereof, can be very deceiving so I would have a hard time pulling the trigger on something far away that I haven’t seen. It’s not like ebay where there’s bidder feedback on someone’s selling integrity. Bidding on houses is at your own risk. Since there’s probably really limited disclosures, I’d want someone to check it out if I couldnt’ see it myself.