Markets News - Get Global Financial Market Updates & More

Homesearch.com Review: An Exclusive Real Estate Auction

Written by - Reviewed by Glozine Team

Published: Dec 16, 2015 | Last Updated: Sep 23, 2016

Homesearch.com refers to an online based website which is auction based and provides an individual with the ability to search for and bid for bank owned retailed and residential properties across all 50 states. So if you are looking to purchase real estate you may consider Homesearch.com an option to find what you are looking for.

Homesearch.com Pricing and Refund Policy

When registering for an auction, the process is free when opening an account and in the placement of bids although a $2500 hold may be placed on your credit card. This hold will be released back to you only in the event that you will not have purchased the property at the end of the auction.

If it however happens that you successfully win the auction and agree to the purchase of that particular property,Homesearch.com will charge an auction fee otherwise known as a ‘Buyer’s Premium’ which is equal to 5% of the winning bid amount in addition to the hold of $2500.

Manufacturer information and claims about Homesearch.com

Based in Lewisville, TX, Homesearch.com holds a C rating with the BBB, basically known as Better Business Bureau, even though it is claimed that they only have had one closed complaint within the past three years. Their website’s URL which was originally registered in 1998 appears to have been operating in its current capacity since mid-2013.

How Homesearch.Com operates

With homesearch.com, once you have an already registered account, it claims that you just need a click to bid on that property. You will receive information notifying you if you are the highest bidder after the auction. Just like other similar auction sites, Homesearch.com gives sellers an opportunity to set a reserve price that must be met in order to be purchased. This means that even if you are the highest bidder it does not necessarily mean that you will have already won the right of purchase to the property.

Property found in Homesearch.com

Some of the types of property you may need to choose from at Homesearch.com include:

  • Auction
  • Bank owned
  • Short sales
  • Single Family Homes
  • Multi-family Homes
  • Condos
  • Townhomes
  • Land
  • Short Sale
  • Luxury Homes

Advantages of Homesearch.com

  • It is easy to use
  • This comes as a result of its easy online access to properties in all the 50 states plus real time updates and customizable search engines
  • Transparency
  • You have the ability to see the current bid amount and to receive notifications throughout the bidding process as it is handled through a high-visibility auction format
  • Deal selection
  • It is claimed to contain thousands of exclusive properties and even financing

Drawbacks of Homesearch.com

  • Your contract can be voided at any point for so many reasons. This results to inconveniencies.
  • The bidding process may be cumbersome as the purchasing process has got the ability to fail through until the very last moment.
  • There is no inspection of properties sold through this website so a customer may at the end of the day end up with malfunctioned property
  • The highest bidder may be obligated to pay the associated Buyer’s Premium incase he/she can’t suddenly obtain financing to renovate the property in case it is not in a proper condition
  • It appears to be closely associated with NationStar Mortgage LLC which has a very poor online customer reputation
  • The contracts may be one sided
  • Homesearch.com charges steep fees which may not be applicable to all customers
  • The amount of risk presented with the auction is very high
  • Homesearch.com is associated with conditions which have restrictions attached to it
  • According to some of the customer reviews and related searches, it shows that Homesearch.com appears to highly favor distressed properties e.g. short sale or foreclosed property which in most cases are never in good condition

Instructions for using Homesearch.com

To start operating Homesearch.com you will first need to choose the property you need. You can then enter a zip code, city, property address or property ID. If you find any properties that suit your criteria, you will be able to see a short overview of each including the relevant price, address auction start and end dates and any remaining time if any. Once you click the View Details button, you will be able to have a look at any additional pictures, occupancy status whether or not the reserve has been met and many more options.

Final Verdict

Most individuals will always search online for hot deals on rental properties, auction properties, and permanent residential and even condos. Homesearch.com gives you the opportunity to get that property you have always desired to get your hands on. The bidding property is fast and easy to conclude, as it is just a click away. On the other hand according to customer reviews, there are lots of negative complaints and comments lodged against Homesearch.com. It might be a recommended option for home searching but you may want to be careful about owning a home through Homesearch.com.

X

Hints on how to write a helpful review

A great review should have the following qualities:

  • A helpful review should connect and engage with the readers using personal experience.
  • An excellent review provides the readers with cogent and unbiased information necessary to help them make the best choice.
  • A review must be well-formatted to make reading easier by using multiple paragraphs and avoiding caps.
  • The primary goal of your review must remain to provide accurate and non-salesy information.
  • Above all, let your review be fair and honest.

We have high level of professional editorial section with zero tolerance policy on fake reviews.

To maintain the genuineness of our brand, we ensure all customer reviews submitted to us are verified and confirmed before publishing. Though we might not be a 100% accurate, however, we try our best to ensure being next to best. For a thorough verification of submitted reviews, we spend close to 7 working days before allowing any customer review to be published since we also work on the earliest submissions first.

X
The Quality Page Score Explained

Your Rating*

Were you able to find the information you were looking for on our website? YesNo

Did you find that information valuable?
YesNo

How likely are you to share our page with a friend? Scale 1 to 5