Homebuyers Find Deals Online.(Managing REO)

Byline: Jennifer Harmon

Rainbow City, AL-Mark DeGolyer and Ruthe Joyner DeGolyer had never purchased a home through a real estate auction before, let alone through an online auction.

Like many people who first consider purchasing a home through an online auction, the DeGolyers were nervous at first. But, once they explored the site and registered as bidders, their experience was nothing but positive.

"I was not familiar with the process, but I called RealtyBid.com customer service, and they walked us through how the online auctions work," recalls Ms. DeGolyer. "We registered as bidders, and after that it was a cakewalk."

The DeGolyers, who live in North Carolina, purchased two Myrtle Beach, S.C., bank-owned, foreclosure condominiums via RealtyBid.com. Ms. DeGolyer said both of the properties were tremendous deals. When they first saw the low starting bids for each of their two condos, they assumed the properties would be "run down," but they found the opposite to be true, she said.

"When we viewed our first RealtyBid.com purchase before bidding, we stepped in and found extremely nice tile, stainless steel appliances, attractive design ... it was wonderful. Both of the condos we bought are in great shape."

Ms. DeGolyer has bought and sold 18 properties over the years, and she says these ...