Auction.com

I wrote a review on Auction.com regarding a house I bid on & won, but could not close on for 90 days because it had an IRS tax lien of $80,000 on it. I said I would post again if I received my earnest money back. Auction.com was very prompt. I got all $7886 of my earnest money refunded by check last Friday, 1/23/15.

Shady operation. I was looking to bid on a property through them and had been following this home for a while. It's been vacant for months. They state that the house is occupied so you CANT get in to see the interior or get your inspections done. Fine, BUT the online paper work they provide for the property clearly says that they recommend buyer do all inspections. I call to tell them I'm going by their recommendations to do inspections so I need to get in, and they say "sorry the house is occupied.". I tell them it's been vacant for months. They say, " sorry the bank tells us it's occupied." So, this is a sneaky ploy to keep buyer out of the house, To do inspections they recommend! I've also read that they bid up the price on their end to get more for their houses, which you can't get in to see, even though they advise you to do so!

The properties sell very slow at auction.com. It does not have a backup bidder system and only see properties get relisted over and over again as the winning bidders often fails to close.

1st they don't return the $2500 deposit even a "few" days after the end of the auction. Secondly i was bidding on a property that supposedly ended with 30 seconds remaining and they extended the auction a whole 24 hours. What a joke. Never again. Don't waste your time. On top of this when i hit the chat button 5 days after the auction ended to inquire about the hold on my credit card being lifted the representative made up his own policy and told me it would be a whole 7 days before the hold was released. The website clearly stated a few days after the end of the auction.

STAY AWAY PEOPLE! Whatever you do DO NOT deal with theses people. Absolutely the worst experience I ever went through. All selling costs are the responsibility of the buyer even their attorney fees. They don't tell you this before bidding on any of their properties. You will solely be responsible for any back taxes or claims on the title that you cannot view. They will say they are going to send you the hud so you can view the closing costs but wont give it to you until the day of closing when your there. They give you 24 hours to sign the contract and send it back or you face losing your earnest money which is a whopping 10 percent. Anything you do not exactly as they say will cost you money but they do nothing that they say and that's ok. Anything that normally gets split between the buyer and seller gets put back on the buyer. It was a horrible experience dealing with them. You all see the one star ratings they have and its for a good reason.

The MLS in this area does not allow properties that are occupied cannot be shown to be advertised but the agent was required by you to have this listed on the MLS.
Your website did not state it was occupied. And yes I found out for my attorney it is my legal right are my own title company but your company makes it seem like it is not your right and of course they charged extra fees so they've already coursed most buyers into using this company for their title. I'm going to follow through by filing a complaint with the Real Estate Commission in the state and the banking commission for fraudulent action.

I bid on a property, was the winning bidder, and obtained a signed contract. Days before closing, I received an email from auction.com stating that the seller was removing the property and I needed to sign a release. No explanation, no reason, no nothing. It has now been 13 days of me trying to speak with a supervisor, leaving multiple messages, and they are also not returning my calls.

Today, just for giggles, I logged on to the HUD website and low and behold, there is the house that I have a signed contract on.

This company is apparently listing properties for sale that they do not have authorization to sell. I would suggest to you that you run the other way!

This company is a scam!

The purchase agreement says bidding a quit claim. Don't know about where you live but think this is basically worthless where I live. You are basically buying the mortgage company's mortgage claim. Since the owner isn't paying that anyways, then you must be___. They should not be allowed to list on real-estate sites unless they are selling actual real-estate. They are selling encumbrances or such from what I can tell. I am not a lawyer but this is my understanding.

It would be better for them to clearly state what they are doing.

I despise this company and everything they stand for. They've made life miserable for anyone trying to purchase foreclosures. They charge needless fees that you can avoid when you purchase a fannie mae, freddie mac or HUD property. Also, you have to use a credit card to bid on their site. If you make the mistake of using a bank card they place a $2500 hold on your account which takes a while to remove. This is not outlined or disclosed ahead of time and can cause a lot of anguish if you don't keep large amounts of cash in your checking account.
I've bid on several houses and invested in several but I've never had any success with auction.com and hope the banks see the mistake they are making by using them.

I have tried to purchase 4 houses with Auction.com none of them went through. The last one was on the county court house steps with cash buyers. Auction starts at 9am, at 10:30 we were still all standing around. I asked if the home I was interested in was actually going to be auctioned off as their web site indicates and they could not give me an answer. Do not waste your time with them. They will not give you the reserve amount on the property so you waste much time bidding and they never intended to sell it to you in the first place. HUGE WASTE OF TIME.

My story falls right inline with these others. I wish I'd have seen the reviews first. I recently "won" an auction on a house. I was informed two days after that the seller back has accepted (chase). I had full cash and was ready to close asap. The next week the story changed that the seller (chase) had to review my bid... A whole month goes by before they supposedly sign the accepted offer I was told they already accepted. Now (chase) had yet another 30 days to make me wait before closing even though I told them I'd close the next day if they would. Then another delay and another. It finally crept up on my final supposed signing day and I was not contacted, not kept informed, not told where I'd need to sign, NOTHING. Not kept in the loop at all like a real business would run theirs. I finally just backed out and lost my deposit and cut my losses