I have tried multiple times to purchase a property through Federa. It’s the same result every single time. You put in a very descent offer especially considering you don’t get to see the property before closing and then you wait and wait. Once the bidding stops which you don’t get to see in real time so there is no way to adjust your offer accordingly, a sign pops up that says “reserve not met.” So these homes up for auction on Federa basically want close to full price for a distressed, foreclosed property you have no way to see before closing as 99% of the homes don’t allow for it. You could wind up paying more than the actual value of the house after you make repairs. Who would do this??
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