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Real estate broker Karol Luckpetris says such auctions are unsupervised, unauthorized and solely dependent on the seller or their agent. For this reason, the amounts offered by preliminary buyers can sometimes be fictitious.
The real estate agent shared tips on what you need to know and what to ask the seller if you want to buy a home through said auction. He also emphasized how to verify that you have not fallen for the scammers who make up non-existent customers and do not overpay.
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