✓ Finding the Auction

Please visit: to view all available REO Properties.


✓ Auction Process/Details

The auction typically starts on a Saturday at 9am and ends on the following Monday and 2pm. If the property you are looking for is not present on the site, please check back in 2-3 days as the property status could change & the auction details may not be readily available at the present time. The listing agent does not know when the auction will begin- the auction website ALWAYS determines start date.


✓ Occupied vs. Vacant Properties

Properties that are vacant are available for showing & all appointment requests should be scheduled through Showing Time. Properties that are occupied, will not be available for showing and will be sold ‘sight unseen’.


✓ Submitting a Bid

Once you are registered for an Auction Event, placing a bid is a simple click. Each Property will have an opening price and bid increment. Each Bidder receives a confirmation once a bid is placed, and if you are the Highest Bidder you will be notified via email at the conclusion of the Auction.

All bids must be submitted directly, through the auction website. The listing agent cannot accept any offers or bid of any kind.


✓ Pre-Auction Offers

Typically accepted up to 48 hours prior to the start of the auction. All pre auction offers must be made through the auction website, by using the pre auction offer button, on the listing. Listing agents cannot accept any pre auction offers.


✓ Proof of Funds

Not required, but Xome reserves the right to incorporate Bidder prerequisites as needed based on Seller requirements and changes in applicable laws.


✓ Reserve Price

A Reserve Price is the minimum price the Seller/Servicer is willing to accept for the Property in an Auction. The Reserve Price is set by the Seller/Servicer and is not shown to buyers, however, the Property Details Page does show whether or not the Reserve Price has been met. Bidding for the Property will continue even if the Reserve Price is met. The Seller/Servicer may choose to re-Auction the Property if the Reserve Price has not been met.

** Typically the property will be placed at another auction within 2 weeks.


✓ Buyer’s Premium

It is the fee collected by Xome that will be added to the amount of the Winning Bid as compensation for the Auctioneer in performing the Auction. The Buyer’s Premium is to be paid by the Winning Bidder.

Buyer is responsible for obtaining all CO’s and Inspections. All accepted offers are subject to a 5% premium.


✓ Realtor Commission

Realtor commission is decided by the bank & not the listing agent. The buyers agent receives 1% and the listing agent receives 1%, regardless. The 5% premium goes directly to the auction website.


✓ Inspections & Financing

All properties are sold as is and do not allow for any inspection contingencies. The bank makes no guarantees regarding condition or defects. All CO and town inspections are the responsibility of the buyer. Most properties require all cash offers, but occasionally financing is allowed depending on the condition of the property. Please refer to the listing on the auction website, as to whether financing is allowed or not.


✓ Clear Title

Redemption Properties are sold “as is, where is” with all faults and limitations. It is recommended that potential Bidders complete their due diligence prior to the Auction.

On most occasions, If the property is vacant, the seller guarantees clear title- free & clear of any judgements/liens. If the property is occupied, the contract may be different- please refer to your attorney regarding guarantees for clear title.


✓ Winning Bid

You will receive an email including a link that will verify your bid and confirm your registration information. In addition, there will also be a notification within your user dashboard regarding the express checkout form. This form must be completed within 24 hours. You will receive further closing information that will be provided along with the purchase contract.