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Want to buy a house that is on Auction.com and it hasn't?
A,house in Raymond ia has been on Auction.com since October 2025 with reserve not met. Lakeview loan services is the ones I guess. Want to look at inside and hopefully buy it since I've been looking at it since 2 yrs ago
Asked By Regina Grimes | 44 views | Buying | Updated 5 days ago
Answers (3)
Haley Doeppers
Sotheby's International Realty Wine Country
Yes, you may still be able to buy it, but properties listed on Auction.com work differently from normal home sales. The key issue in your case is the “Reserve Not Met” message.
What “Reserve Not Met” Means
A reserve price is the minimum amount the seller (usually a bank or loan company) will accept for the property. The reserve price is usually hidden from bidders.
If the highest bid doesn’t reach the reserve, the property does not sell.
The seller (like Lakeview Loan Servicing) can:
Run another auction
Accept a lower offer later
Keep the property and relist it again.
That’s why you may see the same house reappear in auctions for months or even years.
Why You Probably Can’t See the Inside
Most Auction.com homes are:
Foreclosures
Bank-owned (REO)
Possibly still occupied
Because of that, buyers usually cannot tour the inside before the auction. Sometimes you can only drive by or see photos.
How You Might Be Able to Buy It
Since you’ve been watching it for a long time, here are the realistic options:
1. Check if it’s also listed with a real estate agent
Many auction properties are also listed with a broker somewhere like MLS or other real estate sites.
If so, you could:
Contact that agent
Ask about making an offer outside the auction
2. Register and bid on the auction
If you want to buy it through the auction:
Create an account on Auction.com
Submit proof of funds or financing
Place bids
But remember: if you don’t meet the reserve price, it still won’t sell.
3. Try to contact the seller/servicer
Since you mentioned Lakeview Loan Services, sometimes banks will:
Review offers after an auction
Negotiate if the property keeps failing to sell
You may need a local real estate agent to submit an offer.
Important Risks With Auction Homes
Before bidding, be careful:
Many are sold “as-is”
You may not get an inspection
You may need cash or fast financing
The property may still be occupied or have liens
✅ My advice:
If you’ve been watching this house for 2 years, it may mean the bank’s reserve price is too high. Sometimes they eventually lower it.
What “Reserve Not Met” Means
A reserve price is the minimum amount the seller (usually a bank or loan company) will accept for the property. The reserve price is usually hidden from bidders.
If the highest bid doesn’t reach the reserve, the property does not sell.
The seller (like Lakeview Loan Servicing) can:
Run another auction
Accept a lower offer later
Keep the property and relist it again.
That’s why you may see the same house reappear in auctions for months or even years.
Why You Probably Can’t See the Inside
Most Auction.com homes are:
Foreclosures
Bank-owned (REO)
Possibly still occupied
Because of that, buyers usually cannot tour the inside before the auction. Sometimes you can only drive by or see photos.
How You Might Be Able to Buy It
Since you’ve been watching it for a long time, here are the realistic options:
1. Check if it’s also listed with a real estate agent
Many auction properties are also listed with a broker somewhere like MLS or other real estate sites.
If so, you could:
Contact that agent
Ask about making an offer outside the auction
2. Register and bid on the auction
If you want to buy it through the auction:
Create an account on Auction.com
Submit proof of funds or financing
Place bids
But remember: if you don’t meet the reserve price, it still won’t sell.
3. Try to contact the seller/servicer
Since you mentioned Lakeview Loan Services, sometimes banks will:
Review offers after an auction
Negotiate if the property keeps failing to sell
You may need a local real estate agent to submit an offer.
Important Risks With Auction Homes
Before bidding, be careful:
Many are sold “as-is”
You may not get an inspection
You may need cash or fast financing
The property may still be occupied or have liens
✅ My advice:
If you’ve been watching this house for 2 years, it may mean the bank’s reserve price is too high. Sometimes they eventually lower it.
- 5 days ago
Helpful (1)
Unhelpful (0)
Jennifer Hupke
RE/MAX Forward
Auction.com will typically note on the listing if a property is occupied and should not be approached, and in many cases they specifically advise buyers not to visit or disturb occupants. With foreclosure and auction properties, access to the interior is often not allowed until after the property is owned by the bank (REO) or officially available for showings.
If you’re working with a buyer’s agent who understands foreclosure and REO properties, they can often do a little more digging. We can look at where the property is in the foreclosure process, whether the foreclosure sale has occurred, and if the property has transitioned to bank ownership. In some cases we can also identify the asset manager or servicing company handling the property—for example companies like Lakeview Loan Servicing—to see if there is any indication of when the property might become available through a traditional listing.
If the home in Raymond has been sitting on Auction.com since October 2025 with the reserve not met, that usually means the lender hasn’t accepted the auction bids yet or the foreclosure process hasn’t fully completed. Until the bank actually takes title and releases the property, interior access is rarely granted.
If you’re serious about that property, the best approach is to have an agent monitor the foreclosure status, watch the auction activity, and track when or if it becomes REO. Once it transitions out of the auction stage and into a bank-owned listing, that’s typically when we’re able to schedule showings and pursue a traditional offer.
If you’re working with a buyer’s agent who understands foreclosure and REO properties, they can often do a little more digging. We can look at where the property is in the foreclosure process, whether the foreclosure sale has occurred, and if the property has transitioned to bank ownership. In some cases we can also identify the asset manager or servicing company handling the property—for example companies like Lakeview Loan Servicing—to see if there is any indication of when the property might become available through a traditional listing.
If the home in Raymond has been sitting on Auction.com since October 2025 with the reserve not met, that usually means the lender hasn’t accepted the auction bids yet or the foreclosure process hasn’t fully completed. Until the bank actually takes title and releases the property, interior access is rarely granted.
If you’re serious about that property, the best approach is to have an agent monitor the foreclosure status, watch the auction activity, and track when or if it becomes REO. Once it transitions out of the auction stage and into a bank-owned listing, that’s typically when we’re able to schedule showings and pursue a traditional offer.
- 3 days ago
- Helpful (0)
- Unhelpful (0)
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Tony Greising-Murschel
Boise Premier Real Estate
The only house in Raymond, IA on auction.com was 206 2nd St. That auction starts 3/16/2026.
- 5 days ago
- Helpful (0)
- Unhelpful (1)
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