6 Best Online Home Auction Websites (2024 Reviews)

Real Estate Bees’ editorial team asked a number of industry-leading real estate investors to share their expertise on the best online real estate property auction websites to help our readers make a more educated purchase decision when researching available solutions.

With the help of the experts, we identified the best online property auction sites and evaluated them based on critical factors that are important for real estate investors. Visiting retailers of the listed products by clicking links within our content may earn us commissions from your purchases, but we never receive any compensation for the inclusion of products and/or services in our consumer guides. Read our editorial guidelines to learn more about our review and rating process.

— Kimberly Anderson, Senior Creative Editor at Real Estate Bees

Auction.com is one of the best online property auction sites in the U.S., specializing in the sale of residential bank-owned and pre-foreclosure properties through online auctions and in-person events.

The platform has 13,000+ exclusive investment homes not available on the local MLS and conducts around 15,000 auctions annually in all 50 states.

A distinguishing feature of this platform is its FCL predict functionality, which provides users with foreclosure properties that are most likely to go up for auction on their scheduled sale date.

Auction.com has facilitated the sale of more than $26 billion in assets and draws in bidders from across 100 countries, including individual investors, real estate brokers, agents, major banks, and other businesses.

Features

Remote Bid

Integrated into the Auction.com mobile app, the Remote Bid feature lets buyers bid on select foreclosure properties for sale from any location.

Users can place bids on various properties in eligible states and counties and even submit multiple bids across several auctions simultaneously, or a day before the auction starts.

Event Calendar

The Event Calendar allows users to keep track of upcoming live foreclosure auctions.

This feature provides critical details about the auction such as date, type, event name, asset type, and total number of available assets.

Users can click on event names to see more information about properties up for auction.

Portfolio Interact

This is a business intelligence dashboard for sellers that provides them with enhanced asset-level detail and portfolio reporting.

With Portfolio Interact, users can access actionable data with numerous filters that help them identify trends and opportunities.

Portfolio Interact also offers pricing optimization capability that allows you to review priority assets and validate pricing by using actionable intelligence.

Hot Foreclosures

This search feature helps users identify well-priced foreclosure properties likely to go to auction.

It provides users with properties that are in high demand and have a higher return potential compared to similar properties.

Users can also click on these properties to access price insights, estimated resale value, and estimated debt.

To learn more in-depth about these and other features, read our Auction.com review.

Plans and Pricing

Bidding on Auction.com is free of realtor fees and commissions, but you will have to pay a buyer’s premium of 5% or $2,500 (whichever is greater), in addition to the offer amount when you win an auction.

In addition, the platform also charges a $2,500 cancellation fee for winners who do not follow the post-auction terms and conditions.

Users will also be required to pay an earnest money deposit upon winning a property, which varies per property.

Pros and Cons

Pros

• User-friendly interface. Auction.com offers an intuitive and user-friendly online foreclosure auction platform, making buying distressed properties for investment easier.

• Off-market listings. Unique to Auction.com among many home and land auction websites is its host of exclusive listings not available on other property listing sites or MLS. With thousands of properties across the country, Auction.com caters to diverse needs. You can find everything from single family homes and condos to apartment buildings and even land. This diversity further solidifies its place among the best online home auction sites.

• Streamlined transactions. Auction.com assigns contract specialists who guide real estate investors through closing, document signing, and title transfer, ensuring a hassle-free experience.

Cons

• Poor customer service. Customers have reported a lack of professionalism among Auction.com’s agents, describing them as pushy and often siding with sellers over buyers. Some customers have also complained about agents being unresponsive or dismissive.

• Shady bidding process. There are complaints about Auction.com’s bidding process favoring sellers over buyers. Some buyers have reported receiving misleading or inaccurate information about things like title, earnest money, and property listings. The company has been known to advertise a minimum bid for a property only to switch it out for a higher one later on.

• High cancellation fees. The platform charges a cancellation fee of $2,500 when the winning buyer does not fulfill their post-auction obligations. This is a strong deterrent for many buyers.

Integrations

• DocuSign
• Follow Up Boss
• NetDirector

Concierge Auctions, established in 2008, is a premier global luxury real estate auction marketplace dealing in high-end, unique properties.

The platform links sellers of these rare properties with resourceful buyers worldwide, boasting over $780 million in luxury property transactions.

The platform’s distinguishing features include a film tour, which grants visitors an immersive view of properties through compelling videos accentuating their luxurious appeal and desirable elements.

The platform’s global footprint extends across 27 U.S. states and 5 countries.

The website also offers additional features like a gallery, detailed property information, a map view, and 24/7 bidding.

The platform was acquired by Sotheby’s International Realty and Realogy Holdings Corp. in 2021.

Features

60-Day Auctions

Concierge Auctions’ 60-Day Auction service allows sellers to sell their home at or near the list price in as little as 60 days.

Sellers can select their timeline for selling their home by choosing the date and terms of the sale.

They will then receive a starting bid range, offer lineup, and exposure metrics to help plan their auction strategy.

Successful sales are closed upon in 1-4 weeks via a contingency-free closing process. This well-structured marketing and sales strategy makes Concierge Auctions one of the best online home auction sites for luxury properties.

Preferred Agents

Sellers can work with expert luxury real estate agents through the Concierge Auctions platform.

They can search for agents by location or name, with these agents categorized into gold, silver, and diamond categories.

The Preferred Agents feature allows sellers to find local agents who can assist with bidding strategies and provide comparable real estate sales and local market knowledge.

Film Tour

Each luxury property on Concierge Auctions is accompanied by a short film tour. These films capture the distinctive selling points of each property, including its interior design, amenities, and bedrooms.

This provides a visually immersive experience for potential buyers. Users can click on “View Property” for further details of the property, including lifestyle, map, and gallery.

Customized Marketing

Concierge Auctions utilizes the latest technology and industry trends to ensure that each property is showcased in the best possible light.

This includes 3D tour software and virtual reality experiences that allow potential buyers to explore the property from the comfort of their own home.

Concierge Auctions also leverages its industry-leading database of over 800,000 ultra-high net worth buyers in 210 countries.

Through personal outreach, the best buyer prospects are contacted and invited to participate in the auction.

Plans and Pricing

Concierge Auctions is a free online real estate auction website allowing users to register and bid without any charges.

However, auction winners must pay a buyer’s premium of 12% in addition to their high bid amount.

Winners must also pay closing fees and applicable transfer fees. The platform also charges sellers a broker’s commission when the property is sold.

Pros and Cons

Pros

• High-end property focus. Concierge Auctions expertly caters to the luxury property market, offering a specialized platform that exclusively auctions unique high-end properties. This ensures that both buyers and sellers experience a quality-driven marketplace specifically designed for their needs.

• Global reach and extensive database. With an impressive global network comprising high-net-worth buyers, agents, and industry experts, Concierge Auctions ensures sellers have access to a substantial pool of high networth potential buyers and luxury real estate agents.

• Property inspections and previews. The platform allows users to invite home inspectors and preview the property to ensure that it is as advertised.

Cons

• Reserve bidding. The platform occasionally employs reserve bidding to drive up auction prices until the seller’s reserve price is met. But Concierge Auctions also features no reserve real estate auctions where the highest bidder always wins.

• High buyer’s premium. Most auctions feature a hefty buyer’s premium that equates to 12% of the list price. But those who use the starting bid incentive (i.e., bid on a property before the auction starts), may get a 50% reduction in buyer’s premium.

Since its inception in 2009, Hubzu has solidified its position among the best online property auction sites in the U.S., providing a secure and robust platform for buyers, sellers, agents, and different types of real estate investors.

One of the platform’s most useful features is its pre-auction listing which lets users preview, monitor, and research properties before live auctions.

As a free online real estate auction website, Hubzu thrives on transparency and has facilitated the sale of over 212,000 homes in the U.S. and Puerto Rico, resulting in over $26 billion in transactions.

Moreover, the platform boasts a substantial user base of 2.5 million registered users. Hubzu also features a broad array of functionalities, including absentee bidding, off-market property sales, short sales, and SMS notifications.

Features

Auto-Bid

Hubzu’s Auto-bid feature enables bidders interested in a specific property to remain competitive in an auction without manually placing every bid.

Once set up, the system automatically increases the user’s bid each time another participant outbids them, by a preset amount.

Users can also set a maximum bid limit, allowing them control over their potential spending.

Bids Contingent on FHA 203(k) Financing

The FHA 203(k) Financing feature allows users to place bids contingent upon obtaining HUD’s 203(k) rehabilitation financing.

This combines the purchase price and renovation cost into one loan, allowing lower-income buyers the opportunity to buy homes.

The program helps buyers finance repairs, upgrades, or improvements, promoting the purchase of distressed properties.

Pre-Auction Listings

Launched in 2016, this feature allows prospective buyers to preview, research, and monitor properties before they appear in a live auction.

Users can see how many people are watching the same auction and set automatic bidding amounts.

With auto-bidding, users get email alerts whenever they’ve been outbid and can adjust their bid.

Mobile App

The mobile app allows buyers and sellers to access the power and functionality of the Hubzu online real estate platform on the go.

Available for iOS and Android, the app allows users to search through thousands of listings, with key details, photos, and auction dates.

The mobile app also allows users to get real-time notifications about outbid alerts, auction end times, foreclosure auctions, and new properties.

Plans and Pricing

Although bidding on this platform is free, winning bidders must pay a buyer’s premium on some homes.

The specific amount would be listed in the “property fees” section of the property details page.

For homes with a buyer’s premium, the charge usually ranges from $625 to 5% of the accepted bid price.

In addition to the purchase price of a property, buyers who win bids are required to pay a technology fee of $299, which covers the cost of using the Hubzu platform.

Pros and Cons

Pros

• Detailed property information. Each property listed on Hubzu includes detailed information, such as property features, location, sales history, and neighborhood data, assisting buyers in making informed decisions.

• Wide selection of properties. The platform lists bank-owned homes, foreclosures, short sales, and conventional listings, providing abundant opportunities for any buyer looking for an internet auction to buy real estate property for house flipping.

• Contingent bids. An added advantage that sets Hubzu apart from other online real estate auction companies is the ability to place bids contingent on receiving HUD’s 203(k) rehabilitation financing. This feature enhances prospects for buyers trying to find properties to fix and flip when developing or starting a house flipping business.

Cons

• Seller rejections. One disadvantage noted among users of this online property auction service is the option for sellers to reject any bid, including the highest, without reason. This lack of guarantee can potentially frustrate prospective buyers.

• Customer service complaints. Some reviews of the platform allude to poor customer care. Users report delayed responses and unresolved queries.

• Bidding process is not transparent. Some users have accused Hubzu of manipulating bids or discriminating against certain buyers.

Integrations

• RentRange
• ForumPay
• Equator
• NCST

Hosted by CWS Asset Management & Sales (CWSAMS), the U.S. Department of the Treasury Seized Real Property Auctions serve as a platform for auctioning a wide variety of properties seized and forfeited due to violations of federal laws.

The types of properties range from single and multi-family residences to commercial and residential land for sale.

A unique feature of the platform is its free access to bidding with no buyer’s premium on winning bids.

The platform facilitates the sale of seized properties through both live (held at the property site) and online auctions.

This platform is available to bidders in all 50 states, the District of Columbia, and all U.S. territories.

Features

Bid Results

The platform offers a high level of transparency via the “Bid Results” page. This allows users to access auction results for real estate properties sold from the current year through December 31, 2018.

Auction results are available 45 days or more after an auction has closed. Users can access information such as the auction date, property address, and the name of the auction winner.

Special Warranty Deeds

CWSAMS offers special warranty deeds on its listings. With these, the government steps in to deal with any title defects or claims, further upholding the platform’s position as one of the best auction sites for real estate investors.

Watch a Lot

Users can monitor specific properties they are interested in during the sale process.

By clicking on the star icon of a property, users can keep track of their bids and stay informed about the progress of the auction.

Users can also access their watched lots by clicking on the “Watched Lots” button.

Auction Soft Close

The Auction Soft Close feature extends the auction closing time when a lot receives a bid within the last 1 min.

When a bid enters the last minute, the platform will remain open for an additional 1 min. If no further bidding occurs, the extension time will reset to one minute and close when the timer runs out.

Plans and Pricing

CWS does not charge for access to auction listings. You do not have to pay a buyer’s premium.

But each property being auctioned has a deposit bid that must be paid before the auction. In addition to the purchase price, buyers and sellers pay certain fees to cover closing costs.

These include transfer taxes and recording fees as well as escrow fees in accordance with the customs of the county in which the property is located.

Pros and Cons

Pros

• No buyer’s premium. CWS Asset Management & Sales, which executes these auctions, does not charge a buyer’s premium. This means winning bidders only have to account for closing costs and insurance fees without additional surcharges. This can make the purchase process more cost-effective compared to other platforms.

• Written bids. The platform accepts written bids submitted via courier or other offline mediums. This increases accessibility for people who may not be able to attend an auction in person and who are less tech-savvy. The appropriate deposit per property must accompany each written bid.

• Government-backed platform. Auctions are backed by the Department of the Treasury, ensuring a secure and transparent process.

Cons

• Outdated interface. The platform has an outdated and shabby interface, offering limited features.

• Absence of filters. Unlike many modern platforms, this system does not offer filters to narrow down search results. This limitation can make it difficult for users to locate properties in specific counties or other areas.

• Limited property availability. The platform only offers government-seized properties for auction. This may reduce the appeal for users looking for a broader range of investment opportunities.

Launched in 2012, Xome offers one of the largest home search engines in the world, with listings including short sales, foreclosures, luxury real estate, and more.

It is also one of the best online real estate auction sites. A distinctive feature of Xome is its listing of CWCOT properties, also known as Second Chance Foreclosure.

This program gives buyers a chance to purchase HUD-backed, cash-only foreclosure properties off the market.

Another distinctive feature is its Xome Value, an investor-grade valuation. While it’s not an official report from a certified real estate appraiser, it still helps you estimate the true value of a property.

Being one of the best foreclosure websites and acknowledged tools for real estate investors, the Xome platform has generated over 16 billion in total sales and sold more than 100,000 properties.

Features

Auction Simulator

The Auction Simulator feature in Xome is designed to teach homebuyers and novice investors about the auction process through a fun, interactive, and engaging game.

Users can learn the fundamentals of real estate investing by browsing listings, placing strategic bids, flipping or renting properties.

The game leverages real-world data and simulations to help users gain valuable experience and learn about the auction process before participating in an actual auction.

Auction Calendar

Users can view upcoming real estate auction events, including bank-owned, short sale, foreclosed, recently foreclosed, and non-bank-owned properties.

Prospective buyers can browse the calendar, find detailed information about each property in the upcoming auction, and register to participate in specific events.

CWCOT Properties

Xome allows buyers to access HUD-backed, off-market, cash-only foreclosure properties or CWCOT (Claims Without Conveyance of Title) properties.

These usually sell quickly and are offered at below-market value.

Pre-Auction Offers

Xome’s Pre-Auction Offers allow users to make an offer on a property before it goes up for auction.

Buyers can submit an offer 48 hours or more before the auction event’s start date.

If the seller accepts the offer, and a purchase agreement is signed by all parties, the property will be removed from the auction event.

Plans and Pricing

Properties sold in certain online auctions require a buyer’s premium. The fee is typically 5% of the winning bid or $2,500 (whichever is greater).

Buyers must pay a $1,000 deposit for every event they sign up for. They must also cover closing costs and a 1% service fee.

Pros and Cons

Pros

• Free for sellers. Sellers on Xome receive marketing tools, a full-service real estate agent, and an MLS listing for their property, all at no cost. Sellers do not pay any fees on this platform.

• Large and exclusive property marketplace. Xome’s auction marketplace features a range of properties. There you can find foreclosure homes, REO, and short sale listings — ample options to choose from.

• User-friendly interface. Xome’s platform has an intuitive and easy-to-navigate interface that allows users to quickly search for and bid on properties.

Cons

• Non-binding auctions. Xome offers non-binding auctions, meaning sellers can accept or reject any bid, even if it’s the highest one. This can lead to uncertainty for buyers who may not have their winning bid accepted.

• High commissions for buyers. While Xome’s 0% seller commission is a pro for home sellers, Xome adds a premium of 5% to winning bids. Buyers also have to pay a 1% service fee.

• Reserve bidding. Xome can bid up properties on behalf of a seller to meet the seller’s pre-set reserve price. As a result, buyers bid not just against other potential buyers but against Xome itself.

Integrations

• National Community Stabilization Trust (NCST)
• Plunk
• a la mode
• Voxtur Analytics

Established in 2001, Tranzon is a nationally recognized real estate auction franchise network with over 31 offices across the United States.

This platform is staffed by a seasoned team with more than 300 years of combined experience and a track record of over 10,000 properties sold.

Tranzon offers a diverse inventory of commercial, residential, and recreational properties. A unique feature of Tranzon is its ‘Sell on a Timeline’ proposition.

This empowers sellers to offload their real estate assets efficiently and on a schedule of their choosing.

The platform offers advanced search capabilities that allow potential buyers to efficiently sort and compare listings.

In addition, it offers multiple auctions and purchase options, including maximum bidding, premier properties, non-real estate auctions, and even absentee bidding.

Features

Auto-Extend

Tranzon’s Auto-Extend feature ensures fairness in the bidding process. If a new bid is placed within a specified timeframe close to the original auction end time, the feature automatically extends the auction’s closing time.

This extension will continue until no further bids are made before closing time.

Maximum Bid

Tranzon’s Maximum Bid, or “Set It and Forget It” bid, allows bidders to participate in auctions without having to monitor the bidding process continuously.

Buyers can set the maximum amount they are willing to bid for a property, and the Tranzon system will automatically place incremental bids on their behalf, up to but not exceeding their designated maximum bid.

Sell Property on a Timeline

Tranzon enables sellers to take control of their property sales by creating a tailored marketing strategy.

With the guidance of experienced professionals, sellers can achieve their sales goals within a specified timeline. With Tranzon’s strategy, closing usually takes 30 to 45 days.

Buy It Now Properties

Tranzon provides an alternative to auction bidding by allowing buyers to purchase a property at a fixed price.

Users can find available Buy It Now properties on Tranzon’s website, alongside their relevant details and an information pack for download.

Plans and Pricing

Winning bidders are required to pay a buyer’s premium of 5% and above, depending on the type of property.

They will also be expected to pay a broker co-op of 2% of the bid to a registered broker at settlement.

Pros and Cons

Pros

• Market-Making System™. Tranzon’s innovative Market-Making System™ is a proprietary methodology designed for the expedited sale of real estate. Offering a unique blend of national reach, local market expertise, and an extensive proprietary potential buyer database, this system equips sellers with an individualized approach to property sales.

• Transparent and efficient home-selling process. Detailed property information packages, online bidding, and the ability to sign contracts through e-signatures, streamline the auction process, leading to faster closings.

Cons

• No mobile app. Tranzon lacks a dedicated mobile app. This makes it inconvenient for users to bid on properties or monitor their bids on the go.

• Limited online reviews. The scarcity of online reviews about Tranzon may be concerning for potential users who would like to factor customer reviews into their decision making.

Integrations

• BidWrangler

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About the Author:

With over 20+ years of experience in real estate investment and renovation, Brian Robbins brings extensive knowledge and innovative solutions to the HouseCashin team. Over the years Brian has been involved in over 300 transactions of income producing properties across the US. Along with his passion for real estate, Brian brings with him a deep understanding of real estate risks and financing.