On Friday December 17th I thought I bought a home in Sonoma County, CA. I bid $79,000 for the property and was told I was the high bidder.
It did seems to be a good deal but isn't that what auctions are about, getting a good deal? On Tuesday December 21st I got a call from Williams and Williams Auctions saying my bid was rejected by the seller. The seller by the way is Fannie Mae. I asked what would be an offer they would accept and they said closer to the $234,000 they were originally asking for the property.
If I wanted to pay close to that price I would have. What a complete waste of time.
By the way, I was told by Williams and Williams that 50% of bids rejected. DONT WASTE YOUR TIME!
Monetary Loss: $79.