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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Investor trust.... Posted by 2nd Fred on April 18, 2003 at 8:58 AM Hi Ward, To buy a house at auction, you obviously need the cash/cashiers checks in an amount equal to or greater than your maximum bid. The checks should be made out to the person bidding and then signed over to the auctioneer if you're the winning bidder. Any remaining checks would be redeposited. As an investor and wanting to hire someone to bid for me, what can I do to assure that the person with the checks made out to him doesn't run off with my money? I don't want to personally go to the sales, I've been to many and noticed that most of the bidders are working for some entity other than theirselves. What's the trick here? A bond in the amount of a million dollars? That would be very cost prohibitive. Just trust the person? That's not very smart. Thanks, Fred Follow Ups: Investor trust.... Ward-CA- 9:56 PM, 04/18/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hi Ward, : To buy a house at auction, you obviously need the cash/cashiers checks in an amount equal to or greater than your maximum bid. The checks should be made out to the person bidding and then signed over to the auctioneer if you're the winning bidder. Any remaining checks would be redeposited. : As an investor and wanting to hire someone to bid for me, what can I do to assure that the person with the checks made out to him doesn't run off with my money? I don't want to personally go to the sales, I've been to many and noticed that most of the bidders are working for some entity other than theirselves. : What's the trick here? A bond in the amount of a million dollars? That would be very cost prohibitive. Just trust the person? That's not very smart. : Thanks, : Fred Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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