I saw a listening which was originally listed for $170,000 for purchase, but also had preliminary auction through Xome.com. The bid started from $89,000 and ended up with a final bid of $169,000 (cash only). Add 5% of Xome.com's commission on the top of $169,000.
After doing thorough research about Xome.com, I discovered that it is owned by Nationstar Mortgage Company. Their auctions are over-priced and fooling buyers by thinking that you are buying the property from the bank. Although you are initially buying the property from the bank, but Nationstar or Xome.com are third party agencies taking their hefty commissions and manipulating the auction bids. Nationstar should be investigated for manipulating auction prices and deceptive business tactics used by them to fool customers.
Xome.com is nothing besides a fraud company intentionally started by Nationstar to manipulate house prices and fool buyers. Stay AWAY unless you want to purchase crappy damaged properties and pay overpriced bids through BIDDING. You are bidding against the Nationstar Mortgage Company, and they manipulate the bidding process and make buyers pay thousands of dollars over the house initial value and worst is their 5% commission on top of the overpriced bid! Fraudsters.
Bottom Line: No, I would not recommend this to a friend
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