Real Estate Auction Websites Compared

How Do Online Real Estate Auctions Work?

Online real estate auctions run as timed bidding events, but the high bid is usually an offer the seller can still accept, counter or reject. Most homes carry a hidden reserve, the lowest price the seller will take, and on many sites the seller or auctioneer can bid up to that reserve. A late bid usually extends the clock by a few minutes, so auctions rarely end exactly on time.

After you win, the deadlines are short. Expect to sign the contract within 1 to 2 days and wire earnest money, often 5% or $2,500, whichever is greater, within 48 hours. Backing out usually costs you that deposit or a set fee, such as Auction.com’s $2,500 cancellation fee. The full rules for the largest site are covered in the Auction.com review.

How Big Are the Largest Auction Sites?

Auction.com and Hubzu are the two largest auction sites for distressed homes, each with more than 20,000 properties in 2026. A count of the Auction.com sitemap showed 29,051 active property pages on October 16, 2026, of which 7,653 were bank-owned homes. Hubzu reported 22,300 properties on June 30, 2026 in Altisource’s second quarter 2026 results, up from 7,300 at the end of 2025, and 19,300 of them were foreclosure auctions.

Those numbers matter because foreclosure auctions make up most of what you will see on both sites. Foreclosure sales are cash only and cannot be toured, so a buyer who needs a mortgage or wants an inspection is really choosing from the much smaller pool of bank-owned homes.

What Kinds of Sales Will You Find?

Auction sites sell 4 main kinds of property, and each comes with different rules on payment and access:

• Foreclosure auctions. A trustee or sheriff sells the home to repay an unpaid mortgage. You usually cannot go inside, you pay in cash or certified funds right away, and the lender can cancel the sale up to the last minute.
• Bank-owned (REO) homes. The home already went through foreclosure and belongs to the lender. These are the only auctions where financing is common, though usually without a financing contingency.
• HUD second-chance (CWCOT) sales. FHA-insured homes that did not sell at the foreclosure sale get a second auction before going to HUD. Xome, RealtyBid, ServiceLink Auction and Williams & Williams sell these with no buyer’s premium, but they are cash only and sold as is.
• Tax and sheriff sales. Counties sell property for unpaid taxes or court judgments. Bid4Assets is the main online venue, and the Bid4Assets review explains how its deposits and deadlines work.

How Much Do Auction Websites Charge?

Most auction websites charge the winning bidder a buyer’s premium of about 5% of the bid, with a minimum that matters most on cheap homes. Auction.com’s glossary of terms and Xome’s FAQ both put the typical premium at 5% or $2,500, whichever is greater. Hubzu sets its premium for each listing under its terms and conditions, and bank-owned listings checked on October 16, 2026 showed 5% with a $625 minimum.

The minimum is where the difference shows up. On a $30,000 home, a $2,500 premium adds more than 8% to your price, while a $625 minimum adds just 5%, or $1,500. On a $200,000 home, every site charging 5% costs the same $10,000. Add closing costs, which Xome puts at about 3% on average, and the premium together with closing can add 8% or more to the winning bid.

Some sales carry no premium at all. RealtyBid’s help center says foreclosure sales have no buyer’s premium, and ServiceLink Auction’s property listings show none on its 2,385 HUD second-chance sales. Williams & Williams adds a $299 technology fee at closing under its terms and conditions. At Bid4Assets, the seller pays a 10% fee under the site’s buyer fees page and may pass up to 10% on to buyers.

Which Auction Website Should You Use?

The best auction website is the one selling homes in your target area at the lowest total cost, so most serious buyers register on several. Lenders and trustees choose a site for each sale, which means a large servicer’s foreclosures may run mostly on one platform. Search each site for your county before you register anywhere.

As a rule of thumb:

• For the widest choice of foreclosures and bank-owned homes, start with Auction.com, then check Xome and Hubzu.
• For low-priced homes, compare Hubzu and RealtyBid listings, where minimum premiums are often lower.
• For HUD second-chance and live foreclosure sales with no premium, look at Xome, ServiceLink Auction and RealtyBid.
• For tax-defaulted land and homes, use Bid4Assets or the county’s chosen tax sale site, listed among the online tax sale websites.

Head-to-Head Comparisons

The comparisons below put two similar sites side by side on fees, deposits, seller rules and inventory, with worked examples.

• Auction.com vs Xome, same premium, different deposits
• Auction.com vs Hubzu, where Hubzu’s lower minimum saves money
• Xome vs Hubzu, card holds, reserves and seller approval

The companies behind many of these sites also manage and list bank-owned homes for lenders. Their roles are explained in the overview of REO asset management companies.