Auction.com

I bought a home In Jan 2016 through Auction.com it was a smooth transaction.
I have wasted almost a whole week traveling over a thousand miles and doing my due diligence on 5 different properties listed on Auction.com this past week, only to have them cancel the auction on the day it was scheduled. If their policy is that poor with the people they list for don't expect them to work for you. They work only for the seller you are just a pawn as a buyer.

This is a platform that favors sellers, not buyers. It does seem legit, however, despite me not liking a few things. Hence, the proxy bids going all the way to the top of what a buyer is max willing to bid instead of incrementally as other bids are placed, and the platform bidding against investors on behalf of the seller. Both of these practices seem unethical, or at least seller-centric. I also wonder how they assure that a property isn't already sold or in process of, and I think the platform should do and assure all lien/title searches for better trust and bidder confidence. It might be safer just to buy land, have a house built onto the land, and then sell it - an added perk: No auction-related fees!

These occupied properties should be bid on with expectations that the interior is gutted to the studs, but auction.com will relist these auction multiple times bidding on their own properties and trying to get above retail for a trashed property?!

The auction company gave me a strict time frame to send earnest money. I was fine with that and ready to send but the phone number and email to the title company was not correct. I called them and emailed multiple times a day with no reply, so I went online and found another number to call just to find out the company does not work for them. I am not sure what's up and why auctions.com would give me wrong information. I also kept calling auctions.com to tell them the problem with no action until they cancelled the sale saying I didn't meet the requirement to send the earnest money on time. Plus they suspended me from bidding for 8 days when the error was theirs. How frustrating.

For those of you, like me, trying to buy a house, be aware of the First Look scam they use. First Look - for 30 days is supposed to allow regular people to buy and live in a house before investors are allowed. What they do is put a reserve price on the house so high nobody in their right mind would buy it. This allows the 30 days to pass so it can be auctioned again when investors can bid, allowing them to get more money.

They sold a property to me. They said it was occupied by the owner or tenant. Was told all information will be made known once closed. Come to find out the place was illegal occupied by multiple unknown persons. The whole house was not in leave-able condition. It was a total scam. They bid against you to get the most out of you. Didn't mind that, but deceiving information. They need to be sued and out of business.

I dont understand its online auction but why so called seller increases the bid without any interaction from other buyers. If reserve is not met, it should end the acution with higher bidder, instead seller keep on bidding and jacking the price up. Running the same property for 10 times in acution will not increase the value of the property or buyers point of view. Also the auction ending timer runs for 10 mins extra after the auction runs out. Thats absurd.

I have had issues with auction.com not putting pictures on their website that are accurate in the description of their homes. They also over inflate the value of their homes. I was currently suspended because I did not sign a contract after winning a bid that I actually did not win but they dropped their bids and the reserve and then declared me the winner. I then decided I should verify the information on the website. Nothing was accurate. Because I didn't go thru with the deal I was retaliated against and suspended.

I have very bad experience with this company they don't care about their customers specially if you are a buyer they treat you very unprofessional and rude team no respect at all any one out there trying to do business with companies I suggest to stay away you from this business will end up sorry what a bad experience I have with them if I have a power I shut down this scammer over night for sure!

I took a bunch of things to Gehman Auctions on 564 North of Reading Pa. I sent them pictures of what I wanted to sell. They said they would take it. When I arrived with my stuff they wanted to pick through it to take what they wanted to sell. Do not waste your time going there.

We won our bid with Auction.com but it is not a user friendly platform. It is strictly buyer beware, and a lot of the information Is confusing.
I'm Sandra Brazelton, a 30 Year CEO, real estate broker, instructor, mortgage professional, and online real estate consultant.

As a subject matter expert with auction.com.
I work with a lot of investors, and I see a lot of the horror studies with auction.com.

I have attached the link in the description to the video on my YouTube channel that guides you through the site and helps you avoid some of the landmines that can wipe you out.

https://youtu.be/TWSwLsaduYE

You will not learn this from auction.com site.

In this new economy, thousands of foreclosures are online and we did not want to miss out or lose our hard earned money. You don't have to either. I welcome any comments or questions

https://youtu.be/TWSwLsaduYE

I purchased from Gehman auctions on the Hibid platform, An antique Bible from the late 1800's. On the photo of the item when it was up for bid had no crack in the hinge of the front cover. When they shipped it whoever packed the bible must have handled it carelessly because when I received it, it was cracked along the hinge of th cover about 5 inches long, obviously effecting the value of the bible. I would not recommend purchasing any item of antiques from these people.

I have bid on several homes over the years and never purchased a home even though on some I was high bidder in excess of the reserves. The latest auction is for a house that is already under contract from a previous auction. In other words it isn't even for sale. I arranged for a realtor to get me inside so as to increase bid but he can't as it is under contract. Yet they have you go through all the processes only to find that it can't be bought at any price. I'm an investor with 100+ deals done through many auctions but this one is a waste of time as the internal communication seems to be nonexistent.

I went into contract on a property at the beginning of December 2020. It is February 17,2021 and we still haven't closed. This is a cash deal. It should be easy. I was just told that the closing has been pushed to March 15,2021 because the seller (the bank) needs to sign an addendum. Since when does a signature delay closing one month. And what bank doesn't want a fast closing? I am lucky if I can get someone on the phone. And the person that takes the car never has the answer to any of my questions. They have been holding my deposit for three months and providing no information. Unprofessional and unethical. Beware and do your homework.

There were 29 properties for sale yesterday and barely any left this morning when we went to the auction. Ok right, stuff changes.

The Auction was supposed to have started at 9:00 am. As of right now at noon all have been pulled or cancelled except one that still has not been auctioned off!

I was fine with this until I found out two of the houses were actually sold days before the auction! Give me a break, of 29 properties none ended up being "cleared". What an extreme waste of time and what an extremely either unprofessional or unorganized company.

We will not be using auction.com again.

I list list the problems encountered below:

Yes they shill but I can chose not to bid any further.

Problems:

1. Customer service is beyond bad. Mostly foreign people answering phones.
2. Closing company is unreasonably slow.
3. Closing co. Reps are just plain under educated and they will lie.
4. Unnecessary costs will be passed on to you. If you buy from them use a local closing company.
5. You will not get keys.
6. They will not check on past due water, sewer, HOA, or any other costs that must be paid.
7. They will send you a contract and then say you have 2 hours to sign while at the same time telling you to have your attorney check it over. My attorney can not be seen with 2 hours notice.
8. Refunds take a very long time to receive. 3 months for me.

Trust me my experience is normal with this company.

Mike

I am a Realtor, and was contracted to do proxy bidding for auction.com's internet clientele. I completed all paperwork and provided all necessary tax information... I worked for auction.com in Georgia on the first Tuesday of October, November, and December.
After not receiving payment with a variety of excuses, I have refused to do any further proxy bidding for them. I will be following up legally, however I want to share my story publicly so that people understand their shady behavior in a situation that is very clear and straightforward.

Thank you for your time and attention,
Sheila in GA