Frequently Asked Questions

A live, in-person public event where a lender can sell a property to recover amounts owed on a defaulted loan  

These are typically held at designated locations, traditionally on the steps of a local courthouse in the county where the property is located.    

Learn more about foreclosure trustee properties. 

Registration with Xome isn’t required, but your experience will be enhanced if you do. 

Registration gives you access to the most up-to-date information about an auction, including any updates to the properties you’re interested in bidding on, or any changes to the auctions you’re registered for.   

Learn more about registering with Xome.

You need to confirm your legal first and last name and provide one of the following: address, phone number, date of birth, or driver’s license number. 

Your date of birth, driver’s license number, and passport number will be used for this one-time identity verification and will not be stored in our database. 

 

Pro tip: It’s a great idea to verify your identity so you can bypass the $1,000 credit card hold.  

 

Absolutely. Properties can be transferred quickly using a quitclaim deed.  

 

Pro tip: We highly recommend purchasing title insurance to protect yourself from any unforeseen liens or other items on a title that would also transfer with the purchase of a property.  

 

The seller has up to 15 business days to review your bid, but usually only takes 3–5 business days to respond.  

First, you get an email confirming your pre-auction offer. Then, you receive an email stating whether your pre-auction offer is accepted or rejected.  

 

Pro tip: The seller has up to 15 business days to make a decision, but usually only takes 3-5 business days to respond.   

 

 

 

Not necessarily. CWCOT 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.    

 

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.    

 

Regrettably, redemption properties usually aren’t eligible for traditional financing, since there’s no opportunity to inspect and appraise the property prior to its sale.  

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. 

 

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