Comments for Rethink Realty Team http://rethinkrealtyaz.com Realty One Group, Tempe, Arizona Wed, 25 Aug 2010 06:06:44 +0000 hourly 1 http://wordpress.org/?v=3.0.1 Comment on Going Once, Going Twice, Sold to the Highest Bidder! by Gary http://rethinkrealtyaz.com/going-once-going-twice-sold-to-the-highest-bidder/#comment-7 Gary Wed, 25 Aug 2010 06:06:44 +0000 http://rethinkrealtyaz.com/?p=45#comment-7 I've heard of this. In my experience, things at the REDC auctions happen fast and it is hard to tell who is bidding but I wasn't aware of this practice. I’ve heard of this. In my experience, things at the REDC auctions happen fast and it is hard to tell who is bidding but I wasn’t aware of this practice.

]]> Comment on Going Once, Going Twice, Sold to the Highest Bidder! by GEORGE DEVOS http://rethinkrealtyaz.com/going-once-going-twice-sold-to-the-highest-bidder/#comment-6 GEORGE DEVOS Wed, 25 Aug 2010 00:47:08 +0000 http://rethinkrealtyaz.com/?p=45#comment-6 The auction buyer, MOST ESPECIALLY at auctions such as REDC, should be aware that the auctioneer bid against buyers. What I mean is he will call bids that he does not have and will allow a buyer to raise a bid that he does not have. This means you can potentially be the only actual bidder. It means that any or all bids before your bid were fake. Potential buyers are not on proper notice that the auctioneer may pretend to have bids that he does not. Some would say it's deceptive. I would avoid the REDC auctions unless you can afford to bring your lawyer with you. The auction buyer, MOST ESPECIALLY at auctions such as REDC, should be aware that the auctioneer bid against buyers. What I mean is he will call bids that he does not have and will allow a buyer to raise a bid that he does not have. This means you can potentially be the only actual bidder. It means that any or all bids before your bid were fake. Potential buyers are not on proper notice that the auctioneer may pretend to have bids that he does not. Some would say it’s deceptive.

I would avoid the REDC auctions unless you can afford to bring your lawyer with you.

]]>