Home Auctions 101
A good place to start. Get the information you need before you dive in. Browse All Topics
What is an auction and how does it work?
A step by step guide to distressed property auctions, from browsing to buying.
What happens after I win an auction?
After you win an auction, there are several steps to take before you have keys in hand.
What are the auction and asset types?
Bank-owned vs non-bank owned vs short sale? We know there are a lot of options, so here is a breakdown.
Frequently Asked Questions See all FAQs
Log in to your account, then click Complete Verification. Click the pencil icon beside the box labeled Email. Change the address and hit the Send Email link.
Yes, you’ll need to show proof of funds or pre-qualification documents if you are the high bidder on a property.
CWCOT auctions occur on Xome.com/Auctions.
Specific auction dates and times are listed on the property details page.
Nope! (Plus, most CWCOT properties aren’t on MLS, so there’s less competition for a property you might be interested in.)
Not necessarily. Foreclosure trustee properties are sold “as is,” which may include faults, liens, or limitations.
| Pro tip: Because they’re sold without any warranties, we highly recommend you thoroughly do your due diligence on any property you’re interested in prior to bidding on it at auction. |
Where you can purchase HUD-backed, cash-only foreclosure properties through online auctions.
The program is intended to reduce HUD’s inventory by allowing buyers to purchase properties through traditional public foreclosure sales and online auction events. As part of the CWCOT program, HUD requires all such properties to be marketed online to increase the number of potential buyers who may see them. While they can be a great deal, they are sold in “as-is” condition, as occupied, and without warranties.
| Pro tip: CWCOT properties are sometimes called second chance foreclosure properties. |
Not necessarily. Redemption properties are sold “as-is,” which may include faults, liens, or limitations.
| Pro tip: Because they’re sold without any warranties, we highly recommend you thoroughly do your due diligence on any property you’re interested in prior to bidding on it at auction. |
The Library
All the links, documents and definitions you need—in plain English.
Glossary
Our glossary provides simple definitions for some of the most common terms you will encounter along your home auction journey.
Legal Disclosures and Documents
Legal resources and all the documents you need to help guide you through real estate investment process.
Frequently Asked Questions
Our FAQ page gives you easy access to the answers you’re searching for, whether you need to know how to use Xome or how to navigate the home auction process.
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