Don't let that $100,000 price tag fool you—this is an auction starting bid, not the actual purchase price. In the auction world, agents use a low 'teaser' price to drum up a bidding war and get eyes on the listing.
Our data shows that similar homes in Westlakes Unit 3a are selling for between $280,000 and $350,000. The huge gap between the starting bid and market value suggests this might be a distressed sale or foreclosure situation.
| Value Type | Amount |
| :--- | :--- |
| Starting Bid | $100,000 |
| Estimated Market Value | $316,000 - $350,000 |
| Buyer's Premium | 15% |
| Rent Estimate | $1,750 - $1,850/mo |
Watch out for the 'Buyer’s Premium.' The listing mentions a 15% fee on top of your winning bid. If you win at $250k, you're actually paying $287,500.
Since it's an auction, the seller likely won't fix a thing. You'll need proof of funds ready just to get in the door. It’s a great way to snag a deal, but you’ve got to account for those hidden fees and potential repair costs that come with a 'distressed' property.
10362 Martin Crk, San Antonio Investment Report: Flip & Rental Analysis · Frontflip