The fact that the California Association of Realtors (C.A.R.) was questioning whether using auctions as a legitimate model to sale real estate properties made for very interesting reading in the most recent newsletter I get called C. A. R. Newsline. Auctions almost always have the allure that you are getting a deal but in my experience, this is not true.
Here are links to three articles I have written about whether you can get a deal at an auction here in the Napa Valley and Bay Area. After reading them you might come to the same conclusion I did, Caveat Emptor. Keep your emotions in check when attending one and do your homework prior to doing so.
Important Information Regarding NationStar and Auction.com
Throughout the past year, C.A.R. has been in talks with NationStar about a program it has incorporated into its business model which requires most of its properties to be listed on auction.com before a short sale is finalized. C.A.R. and members of its Board of Directors have spoken with the California Bureau of Real Estate (BRE) about NationStar’s business model, and the BRE has informed C.A.R. that the program does not violate any laws.
C.A.R. has confirmed that Nationstar will continue to use auction.com as a value verification system on many of its short sales. Real estate agents who list short sale properties from NationStar will list the properties on the MLS just as they would with any other short sale.
Through this program, once the listing receives an accepted offer, NationStar informs the agent that the property will be posted on auction.com for three weeks, as a means to verify that the loan investor has received the best price.
Let me put my nearly 30 years experience to work for you and help you find the perfect Napa Valley property