BK ASSETS Auction company

[Drewferin]

Has anybody actually purchased a DVC auction through BK ASSETS? Seems like they have been around for more than 10 years but they dont have a google rating, BBB rating or anything else I can really find. A couple thread posts over the years about them but nothing super helpful.

 

[andycat]

Thanks for the idea - I'd never heard of them. I just have to wonder how many of these are ROFR'd. The only property listed right now is AK 200 points at $70/point (plus a year's back maint fees, but with a bunch of banked points). Certainly worth keeping an eye on, but I think the selection is going to be slim pickin's!

 

[Drewferin]

The simple fact the aren't any reviews makes me wonder... How can a company not have anything positive or negative stated about them in 10 years of business? Heck in the digital age this seems a little sketch.

 

[andycat]

They do have 767 positive feedbacks on eBay (100%).

.

 

[Noodlez]

I think there was a post on the ROFR thread last week from someone who was successful through these. Unfortunately it all got a little off topic and the posts were deleted! From what was said they’d got an excellent price and it had passed, but I’m not sure how much help that is given that it was only one person.

 

[JohnGypsy]

Yes, it was mentioned recently in another topic and then got deleted. It was the topic where you are supposed to post your recent deal so that others can compare. He listed it at an incredibly low price per point. Later, when questioned, he finally mentioned that he bought it at this auction. When I pointed out that he likely should have mentioned that in his original post (as the instructions clearly state to do in that thread when there are things a bit different from a normal resale), he got pretty angry about it.

We also pointed out that all of the auctions listed by that company that I could find (current and recent) all were situations where the liens were unknown for sure -- and they had to pay the previous year's overdue maintenance fees without actually getting those points most of the time. He got angry at that too and said that that wasn't the case for his purchase.

It just seemed weird/fishy. I start to wonder if it was more of an ad from the auction place than a real user.

Note that he also mentioned in a deleted post that there were TONS of other ones at the same time as his (like at least a dozen at Old Key West, I believe he said) -- but I could find no record of those past auctions or sales when I searched...

 

[skippytx]

I wouldn't even bother trying to pick one of these up cheap like this. From what I've seen DVD buys them back/ROFR's them, just like foreclosures, most of the time. If they do let it go it'll probably be close to the going resale rate, but with more risk. Safer to buy resale at that point where title searches get done, and there are no surprises.

 

[Jerry5788]

If it sounds too good to be true it often is

 

[motherof5]

I had a hard time getting the information on auctions when I was looking last year. But did find some articles of successful people. It seems like you don't know all the information and if it's too cheap Disney ROFR first.