Reviews – Anyone Have Any Complaints
Bid4Assests is an online auction site that auctions
primarily real estate. The main market on this site is below value real estate with many of the properties
located in economically depressed areas. While the reviews show that there are deals to be had at this site,
a more popular choice seems to be using a service like Auctionresource.org for finding good deals on real estate
There are plenty of really good deals but do keep in
mind that most properties are in need of many repairs before they can be habitable. There are a lot of great
investment opportunities especially for the rehab buyer.
Review - The Rules
Keep in mind that you are bidding for property and
buildings that you are very unlikely to be able to inspect. The website is very upfront about keeping
expectations realistic. To bid you have to place a deposit. The deposit is determined by the seller. If you
are the non winning bidder you will have your deposit returned within 10 days.
The winning bidder has a very short time frame to pay
for their property. The general rule for the auction is “as is where is”. That means there is no warranty on
the property you purchase. Most of the properties are pretty run down.
If you forfeit on the sale and do not see it through
closing you lose your deposit (the seller gets to keep it) and you are barred from future auctions at
Bid4Assets. Other important information is included in the Terms of Service and Privacy Information. Read
both documents before you place your bid.
Bid4Assets Reviews -
While the website does a good job of reminding bidders
at every auction that they are assuming all risks associated with purchasing the property it can be easy to
get caught up. I saw a winning bid of $3500 for a 2 bedroom 1 bathroom house in Detroit. Of course the house
was very run down in a not so great section of Detroit where the economy is extremely depressed but it was
still only a $3500 investment. The point is keep your goals clear and in sight when you are getting ready to
place your bids.
Do as much research as you can about the property. It is
easy enough to call the local county court house where the property is located and to ask if there are any
liens or other issues that would keep the title from being free and clear.
A Good Choice?
The website itself was easy to navigate. The information
was clearly delivered. There are video tutorials that are available that will help you to understand what you
are getting into. You can register for free and sit back and watch for awhile to see how things work on the
Overall it seems like a great place to bid on properties
for investment purposes. Most of the properties that are listed are not developed or in rough shape so it
clearly is not the place to shop for your primary residence.
Click Here for the
Top Rated Auction Sites
Overall, the Bid4assets.com review show this to be a
legit site with very few complaints, however most people still prefer using a service like Auctionresource.org for finding deals on real estate.
Bid4Assets Reviews – Anyone Have Complaints About Bid4assets.com
Bid4Assets is an auction website that focuses primarily on property auctions and
other high ticket items. Anyone that attends auctions always hears those pie in the sky stories where the person
went to an auction and bought a house for $2000 or some other low crazy amount. Secretly most auction attendees
aspire to be “that guy”.
The question is will Bid4Assets be the place where you and other consumers have the
opportunity to write their 'you are never going to believe what I paid for this' story? The answer? Yes and no.
Did you ever hear the saying one mans trash another mans treasure? This website is kind of like that.
First of all understand that all of the properties are sold as is where is. While
this is not a deal breaker just keep it in mind. In most cases you are not able to inspect the property so you
really have no idea what you are getting into.
Most of the property that is up for grabs is by far “fixer uppers”. They require
work. Most of the properties are also listed with a reserve which means that if the reserve is not met no one
wins. On the up side of things you can get some really great deals.
This is not the site that you would go to for your primary residence unless you have
the means to dump a lot of money into repairs or you have a team of contractors that can go in and do the
Whenever you are getting ready to bid on property online you have got to make sure
you understand what you are getting into. The site is a little bit confusing because there is a lot of stuff
happening on the site at once. The landing page has a lot of offers and it can be a sensory overload trying to
find out some simple information.
Before you decide that this site is right or wrong for you go through and read the
Terms of Service this will give you information about what is expected of the you as the user. It will also
contain information about fees and charges that you need to know about.
Reviews - The Complaints
Every auction site has the usual complaints about fairness and one person winning
more than others but this site has some complaints about property being auctioned off that was not necessarily
available to be auctioned off.
Buying property online is serious business so you have to pay attention to the
complaints when they are mentioning stuff like auctioning off property that is not authorized to be auctioned
If you are an investor and understand what you are getting into when you enter into a
contract during an auction than this might be a good place to find investment property. If you are the average
consumer proceeding with caution is key in using this website. Will you get your dream McMansion for a few
thousand dollars? No Can you get some great deals on investment property? Yes