1.  How does CA Auction Homes generate income while offering excellent deals on new or fully renovated homes below market value? 
CA Auction Homes earns revenue from the sale of auction event tickets, sponsorships, and the final auction sales prices. This financial structure allows us to pass on savings to you and our communities through grants. It's a mutual benefit!

2.  Is CA Auction Homes real?
Absolutely! We are registered at both federal and state levels, and we are also a licensed Real Estate brokerage in California. Therefore, we comply with all real estate laws governed by California.

3.  How can I be sure of the high quality of the homes? 
Our team boasts over 50 years of combined experience in home renovations and new building construction. We meticulously review all details for quality and safety, so you don't have to. We only employ licensed professionals, ensuring you can rest easy. From design to completion, we stand by our homes, even offering a home warranty for your peace of mind.

4.  Is a deposit required to participate in the auction? 
No, our auctions differ from most home auctions that require an entry fee of four to five thousand dollars. To participate in our auctions, you only need to buy an auction event ticket. The number of tickets is limited for each auction, and the auction event ticket price varies based on the home's value. Generally, auction event ticket prices are comparable to concert tickets.

5.  Are all CA Auction Homes brand new builds or complete renovations? 
Yes, all the homes listed on CAAuctionHomes.com are either brand new constructions or have undergone extensive renovations. Each auction page provides all the necessary details about the work that has been carried out.

6.  Where does CA Auction Homes get their inventory?
We obtain properties from reputable real estate developers, contractors, and other realtors. Furthermore, any individual with a home meeting our strict criteria can list their property on CAAuctionHomes.com.

7.  What are the benefits of using CA Auction Homes versus buying a home traditionally?  
Purchasing a home through CA Auction Homes has several advantages. We cover all closing costs, escrow fees, and even provide a home warranty. Moreover, we pay for expenses typically not included in a traditional home purchase, such as a year's worth of property taxes and homeowner's insurance. Please refer to the terms and conditions page of each auction for complete details.

8.  Does CA Auction Homes provide an inspection report once the home is ready?
CA Auction Homes does not offer a traditional inspection report. Instead, we provide a copy of the city's Occupancy Certificate once the new build has passed all inspections and is complete. For renovated homes, we offer the option for an inspection. Any permits and inspection reports for these renovations are provided to fully disclose the work completed on the home.

9.  Do I need to get pre-approved for a mortgage before the auction begins?
No, pre-approval is not necessary if you plan to use all cash for the purchase. However, if you're considering a mortgage and want to enhance your bidding potential and ensure a timely closure, we highly recommend getting pre-approved before the auction date.

10.  Can I use my own real estate agent?
Yes. CA Auction Homes welcomes buyer's agents and compensates them from escrow. Ensure your agent is well-informed about the auction process and the allocated amounts by checking the property details of the auction you are interested in participating in. If you have a realtor, make sure to indicate this when purchasing your auction event ticket. If you acquire an agent after purchasing the ticket, it will disqualify payment for the buyer's agent.

11.  Are there any geographical limitations for participating in the auctions?
No, there are no geographical restrictions. Anyone worldwide can purchase an auction event ticket. Full payment in US dollars for the total winning bid is required within 14 business days. Anyone who can fulfill this requirement is welcome to participate.

12.  Can I sell my home through CA Auction Homes?
Yes, you can. However, we have a strict qualification process for all homes listed on our site. Most homes we list are brand new or completely renovated. If you think your home might meet our standards, we look forward to discussing this with you. If your home doesn't qualify for auction, we have a realtor who can help you with the traditional listing process.

13.  How much is an auction event ticket?
The price of auction event tickets varies based on the market value of the auction home. However, tickets typically range from $100 to $500.

14.  How long is my money held in escrow prior to the auction date? From the moment you purchase your auction event ticket until the escrow opens, your money is securely kept in a trust account. It is then transferred into the escrow account where it remains until the purchase process is concluded.

15.  How do I know you won’t just take my money for the ticket and not hold the auction? 
Once your ticket is purchased, the money is securely held in a trust account until the auction is completed. Afterward, the money is moved to an escrow account once the title documents are opened in your name. The closing is then scheduled within three business days with the winning bidder, once the final winning bid amount is received. If for any reason, like a natural disaster occurs, your money is refunded less the admin fee that was charged up front.

16.  What happens if I change my mind after purchasing an auction ticket? 
Our auction tickets are refundable, but the admin fee associated with each property will be deducted. We encourage you to thoroughly review the terms, conditions, and all property details before purchasing an auction event ticket.

17.  What happens if I can't deposit the winning bid amount within the required fourteen business days? 
If the final winning bid amount isn't deposited within the required fourteen business days, you'll lose your winning position on the 15th day. The second highest bidder will then become the new winner and the same process will restart. Unfortunately, there are no exceptions or extensions. That's why we recommend getting pre-approved in advance of the auction event if you plan to use a mortgage.

18.  Does purchasing multiple auction event tickets increase my chances of winning?
No, buying more than one ticket does not improve your odds of winning. This is an auction event, not a raffle or lottery. After purchasing your auction ticket, and once the auction starts, you are among a limited number of ticket holders allowed into the auction room. In this virtual room, you may bid as many times as you want at no extra cost unless you're the winning bidder. Therefore, there's no need to buy extra tickets. However, you can buy additional tickets for someone else, but that person's name must be registered at the time of purchase.

19.  How old do I have to be to buy a ticket?
You must be at least eighteen years old to participate in the auctions.

20.  Do I need to buy a ticket for each auction I would like to participate in?
Yes, each auction is considered a separate event with its own terms and conditions related to the individual properties. Therefore, a ticket must be purchased for each auction you wish to participate in. Make sure to read the specifics for each auction before purchasing a ticket.

21.  How long after I purchase my ticket does the auction begin?
The duration before the auction starts is determined by when you bought your ticket and the remaining tickets for the event. Auction tickets usually go on sale at the start of the process, coinciding with the commencement of the home's construction and the property being under an auction listing contract. The whole process can take up to six months. However, since tickets are limited, it's recommended to buy yours early to ensure your participation in the online auction event you're interested in. Once all the online auction event tickets are sold out, no more will be available.

22.  Are the tickets refundable if the auction doesn’t happen? 
Yes, if the auction is cancelled or cannot occur for any reason, your auction event ticket is refundable, excluding a small administrative fee which is charged at the time of your ticket purchase. Your money is securely held in a trust account until the auction is completed.

23.  If I don't win the bid, will I be refunded for my ticket? 
No, you will not be refunded as the tickets are for an event. Once the event has started, the tickets are deemed used. The ticket funds help offset the costs of the homes, enabling us to offer these homes at a significant discount, beginning at zero with no reserves. These homes are anticipated to sell for a fraction of their market value.

24.  Will I have an opportunity to view the house before buying my auction event ticket? 
Most of the houses we auction are either brand new or are undergoing substantial renovations. Therefore, only video renderings and photos are available when the tickets go on sale. However, both an in-person and online virtual open house will be held one week after the house's completion and one week before the auction begins. In the meantime, you can follow the construction progress on our website as it happens.

25.  Do I need all cash to participate in the auction like typical auctions? 
No, unlike traditional auctions, you don't need to have all cash or cashier's checks. We work with lenders who are familiar with our process, making it easy for you to get pre-approval if you choose to use a mortgage. This can increase your bidding power. Although it's not mandatory, we recommend getting pre-approved before the auction. This ensures you can meet the requirement of depositing the final winning bid within fourteen business days to secure your winning spot.

26.  How many times can I bid in the auction? 
Once the auction begins, you can bid as many times as you wish. There are no additional costs beyond your initial auction event ticket fee. You don't pay anything else unless you are the winning bidder. If you win, you have fourteen business days to deposit your winning bid amount into the escrow account to start the escrow and title process.

27.  When is the auction scheduled? 
The auction is scheduled to take place two weeks after all inspections are completed and an Occupancy Certificate has been issued by the City. Initially, an approximate date will be given for the auction. Once the actual date is confirmed, it will be listed on the website. All ticket holders will be notified well in advance by email as well.

28.  Why does the auction date say TBD?  
The auction date may be listed as TBD if the property is still under construction or renovation. However, an anticipated timeframe will be listed on the website. As completion approaches, more details will be provided on the specific auction pages. All current ticket holders will also be notified by email. Typically, the entire process, from listing to auction, can take anywhere from three months to six months.

29.  Is there any reason that the auction date may be delayed?
Yes, the anticipated auction schedule is initially based on the completion of new construction or renovation. However, unavoidable circumstances such as inspection delays and weather issues may cause delays. We always strive to stay on schedule. Any updates are regularly listed on the specific auction page on our website.

30.  Can an auction be cancelled?
Yes, despite our best efforts to avoid it, unforeseen circumstances such as natural disasters (earthquakes, fires, floods) or the homeowner withdrawing the listing can result in the cancellation of an auction. If this occurs, tickets will be refunded less the admin fees listed in the details of each auction.

31.  Can I attend the auction event in person if I want to?
No, unfortunately, you cannot. All our auctions are conducted exclusively online.

32.  How long does the auction last?
The auction is scheduled to run for a minimum of seven days, but this may vary based on the market value of the property. Check each auction for specific details.

33.  What can cause the auction to extend beyond the original auction period? 
If no new bids are placed in the final ten seconds, a winner is declared. However, if a bid is made within these last ten seconds, the auction timer extends by one minute. This process repeats until no new bids occur in the last ten seconds.

34.  How will I know if I am the winning bidder? 
The auction site will display the winning bidder in real time. Additionally, our Chief Real Estate Officer, Stacy Elliott, will notify the winner by email and telephone within 24 hours.

35.  Why will you contact me within 24 hours after I am the winning bidder?  
We need to contact you to confirm your details, commence the title and escrow process, and provide you with contacts for the escrow officer and information about where you will need to send your final winning bid amount. It's crucial to establish communication within this timeframe to ensure you don't miss the fourteen business day window to deposit your winning bid amount. We don't want you to lose your winning bid spot, so if you miss the call or email, please respond as soon as possible.

36.  When can I move into my newly purchased home?
If you are the winning bidder and deposit your final winning bid amount into escrow, close it within three business days, then after recording the title documents, you'll receive the keys, and can move in immediately.