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We extend the auction time by 7.5 minutes any time someone has been outbid during the last 7.5 minutes of an auction.
The auction will continue to be extended by 7.5-minute increments until 7.5 minutes have passed without any bidding activity. Extending the time ensures transparency and a fair bidding opportunity to all.
If you were the one outbid within the last 7.5 minutes of an auction event, we send you an email letting you know the auction is now extended for an additional 7.5 minutes, so you have time to place another bid if you want to. We highly recommend you keep your phone nearby and/or track your email alerts and your listings nearing their bidding time limits.
No, there typically aren’t any inspection, financing, or other contingencies related to purchasing a short sale through the auction platform.
|Pro tip: Any inspections you might want to do should be coordinated with the listing agent before submitting a bid.|
|Pro tip: Properties may be occupied, and trespassing is strictly forbidden. Do not disturb the occupant or contact the owner to obtain information regarding the property.|
Yes, you’ll need to show proof of funds or pre-qualification documents if you are the high bidder on a property.
Just register as a bidder, then search our available CWCOT properties and check out the ones you’re interested in.
Real Estate Owned (REO)—also known as bank-owned—is a property owned by a lender that hasn’t been successfully sold at a foreclosure auction. It’s been re-valued at an amount acceptable to the lending institution but that also encourages a sale.
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.
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