Familiarize yourself with the web site tools
- Select county of interest.
- Browse current properties going to sale.
- Notice the many search options on ways to find certain properties of interest.
- Priority List – Condensed list of properties with active opening bids at a Gross Profit Margin of at least 25%, this is based on our FMV.
- Dropped Bid – We stay on top on new opening bids posted by the Trustees. As bids funnel in throughout the day, new bids will be indicated by a red icon.
- All Properties – Entire list of properties going to sale for that specific day.
- Notice Opening Bid compared to FMV to determine approximate Gross Profit Margin.
- Eppraisal – computerized estimate of value
- FMV – Fair Market Value, post rehab, determined from recent comparable sales of direct subject location.
- Check Title note to see if property is biddable.
- DO NOT BID – Our title company of choice will not insure, loan going to sale is a junior lien, or recent filing of Bankruptcy are examples for this note.
- BID W/ CAUTION – Federal Tax Liens are associated to the property, owners have had a Lis Pendens filed against them, or a Notice of Substandard has been recorded against the property are examples for this note.
- OK TO BID – No title issues are holding back the sale of this property.
- Highest bid between the REIC group is shown to the far left.
- 1st and 2nd position bidders will be identified with their initials. The position you do not hold will be represented with “**”. Members to do not see each other’s initials.
- Once interested in a property, click the information button (i) to the far right. This will open an additional property information page with the ability to make a bid.