cheryl b.

I won auction in Dec. And had to sign contract and provide funds within a few hours, we were to close within 3 weeks since this was a cash purchase. After signing contract and expediting funds I was informed someone would contact me with further instructions and closing date. A week went by and still no contact from anyone so I decided to contact them again and was informed to wait until a closing agent contacts me. Another week or two go by no contact. At that point I get impatient and contact a rep at auction.com and complain, I then speak to a supervisor whom informs me of the closing agent assigned to my case. I've purchased several properties before so I'm not new to this however this is my first and most likely my last purchase from auction.com. I've signed 4 extension forms since that time and it is now 4 months since I won the auction and I now have a closing date of April 6th, I will update final outcome.

Wow! Finally closed on this property it has been the worst real estate transaction ever, it dragged out for 7 months. I finally hired my own title company to get thingsoving faster but I had to agree to pay the final water bill since the bank couldn't seem to get a final water reading for closing, I went to closing on July 24th 2015 and literally 1mins prior to closing the attorney office working for auction.com faxed over revisions for hud 1 which required I pay their $1200. 00 fee which is outrageous I didn't hire them auction.com did. Then they said I agreed to pay these fees in the original contract I signed with auction.com. Well, the entire 7months I continued to check on the property since it was vacant however Bank of America had hired a company by name of safeguard to maintain the property also. The front door had a lockbox similar to the ones the realtors use with code nd keys inside. After closing no one gave me the code to the box so I call safeguard whom informed me to break the box off the door. To my surprise I go to the property bad a the door is open people are actually living in my house I confront them bs they inform me someone claiming to be the owner rented them the house. To make a long story short the person at my house had been scammed by someone whom broke into the property nd claimed to be the owner. This is one reason why I didn't want the closing to drag out so long during that 7 month period someone else broke in nd stole the copper pipes and the water meter. I finally got the people out of the property and now awaiting the deed hopefully this won't take another 7months. I do not recommend using auction.com to purchase real estate, the only good thing I could say came from this was that I got a great property at a great price. But the agrevation was not worth it I could go to the bank and ask for thier REO listings and still get great deals.