Hello Dean Graziosi Family
I've been a RE investor for the last 3 years , and a student of DG , but very inexperienced in auctions , however , the last couple of days I spend some time searching the list of the properties auctioned in NC , by REDC. I used Dean's Total View page and I did check it on other sites as well .
Finally , I decided to go for two properties , and in the end I won both
bids . I haven't personally inspected the homes , and I have like 48 hours to do so before I sign my contract with REDC . The contract itself ( 32 pages ) is not easy to read , I would run it tomorrow to the attorney , before I sign it and send it to REDC ( the company that auction the properties ) as well as the amount needed in the escrow .
Then the seller ( Fannie Mae ) takes 15 days to decide if to accept my offer or not .
My Q :
1) did anyone of you deal with this kind of auctioned properties ?
2) Are there any hidden fees ?
3 )anything in particular I should pay attention to ?
4) do I choose the escrow account or the seller ?
5) do I need to be at the closing ?
6) how do I know the REDC is a legit company ?
7) should I have the properties inspected officially ?
and what are my back-out options ?
Thank you sincerely ,
"If you think you can or if you think you can't, you're right! "