I arrived at the REDC Auction early so I could get my questions answered and prepare for the auction. To check in I showed my registration form and identification along with the required cashiers check for $2,500. REDC had plenty of staff and the process took less than 5 minutes. While registering I needed an answer to a question about a lien on a property. They put me in touch with a REDC Representative who did not know the answer, but said she would check on it and get back to me. After a quick 10 minutes she came back and found me in the crowd with the answer to my question. Again, I have to say I am very impressed with REDC's level of customer service.

After registration/check in you walk into a hotel ballroom with 200-250 chairs facing the auction podium in the front of the room. Behind the auction podium are screens that flash information about each property and specifics about the auction process. Around the room REDC has placed various tables with staff so if you have any questions before/during/after the auction you can get them answered immediately.

I am guessing there were about 200 people at the auction for just over 30 properties. Probably 150 people there to check things out and 50 people seriously considering a purchase.

Auctioneer got us warmed up with a practice auction and wow did he talk fast. There are 3 assistants walking around the room to help the Auctioneer see and recognize bids. Once you raise your card and place a bid these assistants will make their way closer to you so they can help you with the process. They will help you understand where the bid is currently and what bid the Auctioneer is looking for next. I am guessing it took 1 minute or less for the fastest auction of a property and the longest took 4 minutes. I found when you are actively participating in the auction process to buy a property it seems like everything happens in 10 seconds flat.

The property I was interested in went from a starting bid of $19,000 to a final sale price of $87,500. I created a stop at $60,000 and was no longer a participant at that point.

The winning bidders get taken to the back of the room to start the escrow process where they sign over their cashier's check and sign all of the paperwork.

More Blogs on REDC Auction
REDC Results and My Opinions
Day of REDC Auction in Reno
Days Leading to REDC Auction
REDC Foreclosure Auction