Tyler J.

Where do I even begin?

Auction.com is nothing but a complete joke and is in my opinion, scammy Sure, their website looks nice and they advertise like crazy but have you ever actually read through their purchase agreements?

I was interested in a commercial multi-family property and spoke to somebody from auction.com on the phone regarding the proof of funds. Not only were they completely unhelpful, but after speaking with another representative I found out that they were giving me wrong information.

Secondly, the auction process itself is a scam. Everything is tilted towards the seller from fake bidding, to unrealistic purchase agreements, to vague clauses. If you take the time to read the PA's that auction.com provides, you quickly realize that they protect the seller like a fortress and screw over the buyer at every turn. From 10% non-refundable EMD's to not allowing inspections of an entire building to offering complete garbage financing.

A colleague of mine was bidding on a financable asset and had his own financing already lined up. Once auction.com found out that he didn't want to use their garbage financing, they refused to call him back even though he won the auction.

It's a complete scam and it is to the point where many people I know, myself included, see that a property is with auction.com and refuse to pursue it just because we don't want to play their games.

Totally unethical behavior and it is just a matter of time before it really blows up in their face.