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Review of Auction.com

Auction.com reviews

241 reviews
One Mauchly
Irvine, CA 92618, US
Tel: (800)793-6107
customerservice@auction.com
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241 Reviews From Our Community

Service
23
Value
22
Shipping
9
Returns
10
Quality
19

All Reviews

anneo36
1 review
0 helpful votes
6/17/19

Brenda was helpful. this is my 1st time dealing with an online auction so i had a bunch of questions

davidg1101
1 review
0 helpful votes
6/17/19

Had a few questions and used live chat. Brenda H was extremely helpful and answered all my questions.

rebeccag185
1 review
1 helpful vote
6/15/19

I was speaking with Angela, who certainly was quite patient with me, while answering my many questions. As a first time bid winner, I had multiple questions and such and Angela handled it very well. She provided me with a number that I did not see/have before to be able to chat with someone on the phone, for further instruction & answers. The chat feature is very convenient for anyone who is looking for a quick response but may not be able to talk on the phone at the time.

chuckm116
1 review
0 helpful votes
6/9/19

fine, they answered all my questions clearly. I hope it works out because it is my first time with auction.com and hoping for the best.

kathyc370
1 review
0 helpful votes
6/9/19

The representative was very helpful and clear on the questions asked. They made sure I understood before ending conversation.

elainew148
1 review
0 helpful votes
5/18/19

She was candid and gave me a lot of helpful advice & info. You know what would help? A facebook support group where people could ask questions, share horror stories & share good experiences. A place where people could learn from others mistakes & get words of wisdom by seasoned pros. If I had people to chat with about all that I would feel a lot more comfortable bidding for the first time. You'd probably get a lot more people to do this. And, I think it's a lot better for neighborhoods when someone who's going to occupy the property wins the auction rather than professional investors wanting rental properties. On Facebook I'm Tsura Nuri

dawnd161
1 review
1 helpful vote
5/9/19

Yes you do bid against auction.com sometimes, and this is disclosed in there info on their page. You probably won't be able to view the house with an "access code" from a realtor so there's that. If you win the bid make sure you read the closing cost allocation rider in your purchase agreement very carefully because you will be paying for closing cost and mine were over $2000. I would just make sure you bid $3000 less than you want the total cost to be. Don't overbid. There is always another house for sell. Maybe the one you lost the bid on a week earlier. Be patient. It can be a good experience and you can get a good deal, but you're not winning the lottery, you're buying real estate. I found everyone I talked to very nice, though I was kind of ignorant and blindsided by the closing cost. I wouldn't personally bid on occupied properties, but if you're ready for possible problems getting people out of the property, good luck. Mine was vacant.

Response from Cynthia B., Auction.com Representative
Thank you for your review, Dawn. Please let us know if we can help you in the future.
trinas24
1 review
7 helpful votes
4/12/19

The first auction I registered for went smoothly and my deposit was released immediately after the auction ended but this time I registered and the auction ended I wasn't a winner so my deposit should have been released immediately after the end of the auction yet it's been over 24 hours and my money is still on hold I called and was told the money can't be released until the following sat but that's crap cause they released last time and it states on their website that the money is released as soon as the auction is over. I will never use this company again they bid against you but never tell you if it's a company bid or a real bidder in hopes that you'll keep blindly bidding it up and now they dont want to give up my deposit money.

benp149
1 review
9 helpful votes
12/28/18

Won't let you use your deposit on various properties. Claim it is different event. Deposits should be released immediately.
They extend expiry time for hours even if no one else is bidding. They bid against you to inflate price.
Properties cannot be inspected. They and their sellers try to shaft buyers.

Auction.com attempted to help this customer through the Sitejabber Resolution Center, but the customer did not respond

karene282
1 review
22 helpful votes
11/14/18

I really wished that i would had read reviews before bidding. I had won an auction and done all the paper work. I had the wired the money and everything. Guess what? I paid for title insurance and the place had a lien on it. They tried to get me to sign it still. The woman that ran title search told me if i go ahead and sign it that they can come back and take the house from me because I didnt really own it because of the lien that was on the house. I would have lost around 60,000 and no home The home that was being sold with a lien is reposted so yes they know this. The home is located in Switzerland county Indiana.

Auction.com attempted to help this customer through the Sitejabber Resolution Center, but the customer did not respond

sheriffs1
1 review
20 helpful votes
11/9/18

So I decided to try this site, paid the $2500.00 deposit and posted a bid. I didn't win, but did notice that the site bid against me, not mad at them for the business. Two days later, I called at 8:30am to have my deposit returned and this is where I lost any interest with this site. Their auto message clearly states that hours are 6:00am- 5:00pm Mon-Fri. why was it telling me that it's closed? Also, why route your customers through endless string of auto messages? You are dealing with peoples hard earned funds, and most don't want to talk to a computer, just basic knowledge. Basic mistake for developing companies to make, I am sure other sites are coming up that provide better service and strip you of customers. if you want to last long in capitalistic America, you should understand the meaning of customer service and use less auto messaging. AJ Thomas, the VP of people and Culture should fix this, people and culture not machine and culture. cost cutting impacts internal ops not customers.

Auction.com attempted to help this customer through the Sitejabber Resolution Center, but the customer did not respond

michelled314
1 review
15 helpful votes
10/29/18

But you absolutely CAN buy a $200,000 house for $120,000 cash on Auction.com. Auction.com is great. The site sells REOs online using exactly the same M.O. you see at sheriff's sales on your local courthouse's steps: and, like auctions on your local courthouse steps, (...) for any given property there may be 2 actual, serious bidders and about 20 poor saps who showed up honestly thinking the bank was going to sell a house for which it's $120,000 in the red to some poor JimBob for what was advertised as the $30,000 'minimum bid' (snort) price. It won't happen. Not on Auction.com, not anywhere.

YES, fools, Auction.com WILL bid on behalf of the bank or sellers until the 'reserve' price is met. If you think that spells 'scam,' then you need to step out of the game and go back to buying scratch-offs as a long-term financial investment. Auction.com will NOT automatically sell a property to the highest bidder if the highest bid is at a loss to the seller and under the reserve price; this isn't La-La Land. However, the seller might agree to any REASONABLE bid, even if it's under the reserve. You can get absolutely incredible deals here, just don't be thinking a seller is obligated to respond to your ridiculous low-ball bid.. All the negative reviews here seem to be from amateurs who really believed they were going to be handed something for nothing. For anyone who is serious about investing in REOs and is ready to throw out the funds required for such an undertaking, Auction.com is an absolute godsend.

larrye69
1 review
9 helpful votes
10/24/18

I read most of the feedback from previous bidders & buyers on Auction.com and I experienced the same situation, there website automatically bids against you on a bid to drive the price up so they can charge a high fee with there %, I'm kind of feeling scammed out of my money, I prefer to deal with the bank or Realtor instead of giving my hard earned money to these people.

I made a offer of 220k on this property before it went up for auction on auction.com, I made 4 bids and each was auto counter bid until my final bid of 225k, then auction.com wanted 11K cash wired to there attorney asap for their fee. This is what I seen on the property today while I was in the area after signing the contract, these auction for sale sign was not on this property 2 weeks ago, stay away from auction.com

Response from Cynthia B., Auction.com Representative
Hi Larry. Thank you for your review. As disclosed in the Auction.com Participation Terms and property details page, Auction.com is permitted to bid on behalf of the seller up to, but shall not exceed, the reserve price and these bids are disclosed. Counter bidding on behalf of the seller extends the auction increasing the likelihood that the auction will produce an offer that the seller is willing to accept to the benefit the bidders.

Would you mind clarifying on the $11k fee? Was this your earnest money deposit? Would you mind sharing the property address so we can look into this for you?
mikej346
1 review
8 helpful votes
10/9/18

They have no intention (months at a time) of selling below their reserve. Which turns out to be more than the property is worth.

Response from Cynthia B., Auction.com Representative
Thank you, Mike, for your review. We understand you have concerns with a properties Reserve Price, and we would like to clarify how this works. As per the Auction Participation Terms and as disclosed on each property display page, unless advertised differently, all properties in auction events have a minimum selling price established by the seller known as the reserve price. The starting bid is not the reserve price. If the reserve price is not met, the seller is under no obligation to sell the property however at their sole discretion may consider a bid below the reserve subject to their consideration and approval. Please let us know if you have any questions.
andrewh373
1 review
11 helpful votes
10/2/18

I purchased a couple times from this auction site and have also bidded and lost several auctions. It's an auction, not real estate company. Things won't always be perfect so if life has babied you to complain about everything you may not want to use them. If you're good with rolling the dice you can find nice buys here. My only problem with the site now is they are many new bidders now and they don't understand a 3 day auction doesn't require you bidding up in the 1st few hours like kids in a candy shop. You can see the inexperience bidders all over the auction site now. The auction is won in the last hour not hour 1 or day 1. The paperwork process in my experiences have been smooth, painless and fast.

christopherl168
1 review
16 helpful votes
9/11/18

I bought a house, it is listed on auction.com, I have the paperwork proving that I own it, but they will not remove the post from their auction.com website. I have called them, the lawyer that they have listed on the listing, they say they have no affiliation with auction.com. I have a family, and I have random people showing up at my house to look at it for the auction. This is a real problem. Customer service here is a joke too, they told me to call my lawyer.

frankk148
1 review
28 helpful votes
9/1/18

I did participated the fake auction as per advertised Auction.com via email and on the net. End of the auction period I was congratulated via email the Auction.com team me to be the highest bidder and met the reserve price too of that property in question.
I did followed their ( Auction.com) instruction and wire transferred the earnest money amount they requested. The next business day I did received a Purchase and Sale Agreement need it to be signed immediately by electronically to make the purchase legal.
The copy of the agreement was contained incorrect and/or unchecked information regarding my choice of closing agency was not listed at all. That was contrary to the verbal reassuring by Auction.com team member answering the phone.
However, the correction had to be made now. Moreover I need it a seller's signed copy of Agreement in timely manner to move forward with the closing.
It must containing the correct information to reflect my choice of closing company and set up an escrow account administering and transfer the so called "Cash Sale" amount.
I was told it takes 7-12 business days to receiving the agreements signed by the Seller.
Almost a months later I had never received the signed agreement bearing the Seller's signature.
Instead an email notification stated that I have had requested the cancellation of the Pending contract agreement and therefore agreement is nulled now.

Currently working with a law firm to filing a temporary junction and file a complaint to extend and form a class auction complaint in Texas to stop Auction.com and its parent company named Ten-X LLC conduct business. It seems no one knows what had happened to $10,825.00 earnest money i had wire transferred following the Auction.com instruction to designated bank account outlined elsewhere in Auction.com documents,

noahh57
1 review
3 helpful votes
8/14/18

We used auction.com and it was simple and easy. We closed on the property on time and everything worked out really well. I was a bit skeptical at first only because I hadn't purchased from them before. In the end everything went as planned and I would absolutely do business with auction.com in the future.

Response from Cynthia B., Auction.com Representative
Hi Noah. Thank you for your review!
sandrab408
1 review
11 helpful votes
8/13/18

We have experienced tremendous success with auction.com but it did not come over night and we did not expect auction,com to help us.
We studied their platform and documented the steps we took to avoid financial disaster and profit with auction.com on our free webinar.

https://7figure.easywebinar.live/registration

Even though I am a seasoned real estate broker, instructor, engineer and investor, the bidding process was scary and I did not want to lose my hard earned $2500 or worse, purchase a property that I may not be able to liquidate. Plus, I had a lot of questions that auction.com could not answer because they are strictly a "Buyer Beware Business Model"
We wanted to master auction.com because we are in a tight inventory market and they control a lot of the distressed inventory. Plus, I was a Freddie Mac broker so I saw the shift of inventory to auction.com.
As the listing agent for Freddie Mac, I could view the properties but the buyer could not and I saw the profit that savvy investors were enjoying.
After we lost our Freddie Mac contract due to the shift of REO to auction.com, we spent a lot of time studying their technology platform and developing systems, processes and checklists. After winning several bids, we were able to document our actual, hands on experience and provide a structured solution to help others master online bidding even if they have never invested before.
There are a lot of hidden mines associated with online bidding that can wipe you out. For example, we identified at least five different property types that you must know before you bid. Do Not Bid before knowing this because you can lose a lot more than your bid deposit if you acquire the property and are not able to dispose of it because of the occupancy and status types.
It is important that you have a clear exit strategy and that you know your bid sweet spot range before you bid. For example, we won a conditional bid even though the reserve was not met. The formula we use is After Repair Value less (profit, holding, marketing, repair and contingency costs). Our checklist has over 80 items that we use so we are not caught of guard with unexpected repair costs.
These costs will differ for each investor based on their goals, experience, skill set, resources and exit strategy so they must be carefully measured before you bid.
However, by knowing our numbers, we were confident in our bid amount and we knew when to stop bidding regardless of whether we won or not.
However, after we won the bid, there were some unexpected requirements that we had to follow to secure the bid because our deposit was still at risk. We had done our own title search so we just included their closing costs in our profit driven model.
When we purchased occupied properties, we used strict criteria to help mitigate our risk so we developed a checklist to get critical property information before we bid.
Once we closed on the property, our first goal was to help the occupant secure a buyer so they did not have to move. These strategies were very successful and created a win-win for us and the foreclosed owner.
We also used strategies like cash for keys and other incentives and negotiating techniques to work with the foreclosed owner that we wanted to move so we could get possession and prevent property abuse.
Based on the reviews I have read, I believe that proper training and profit driven bidding strategies would alleviate a lot of the problems that consumers are experiencing because the auction.com technology model is different from traditional real estate, foreclosures, etc. and consumers have no representation.
We share a lot of strategies, secrets and recommendation on our free webinar at

https://7figure.easywebinar.live/registration

You can succeed in online real estate investing but in my opinion, you must be trained. .
Respectfully,
Sandra Brazelton, Broker, CRS,GRI, MBA - Online Auction Consultant
sandra@sandrabrazelton.com
https://7figure.easywebinar.live/registration

markf352
1 review
12 helpful votes
7/12/18

Auction.com will bid against you to drive up the price. If the reserve (minimum price that the seller will accept) is not met, Auction.com will enter a "counter offer". You may be the only one bidding on a property, but the price keeps going up and up as it nears the deadline. They do not "counter" once the reserve has been met. They should be honest and transparent: make the starting bid equal to the reserve.

Response from Cynthia B., Auction.com Representative
Thank you, Mark, for your review. As disclosed in the Auction.com Participation Terms and property details page, Auction.com is permitted to bid on behalf of the seller up to, but shall not exceed, the reserve price. Counter bidding on behalf of the seller extends the auction for assets that have not reached the reserve price and would otherwise end unsuccessfully. By extending the auction, it increases the likelihood that the auction may end successfully. This practice benefits the bidder by increasing the likelihood that the auction will produce an offer that the lender is willing to accept. Please let us know if you have questions.
donnas476
1 review
23 helpful votes
6/28/18

I dont want to even give it a 1 ..I wish there was a neg number.. I am so pissed .. this company is holding a total of 5000.00 in my account (pending) and even though they say its released my money is still pending .. this company needs to be closed down.. i am so pissed off.. i will NEVER do a bid with them again!!!!

americansa
2 reviews
14 helpful votes
6/20/18

This company puts homes up for auction even after a BK has been filed to protect the home thus violating Court Orders and effectively in Contempt of Court.

Response from Cynthia B., Auction.com Representative
Thank you for your review. Auction.com provides marketing services for trustee and foreclosure firms and advertises the times and dates where the foreclosure sale will occur. In the event that a defaulting borrower resolves their loan, Auction.com is notified by the foreclosure/trustee to remove these advertisements. We appreciate you making us aware and if you provide the address, we can research this further with the trustee/foreclosure firm.
connieb172
1 review
20 helpful votes
6/19/18

I bought a home on Auction .com. U are bidding against a computer . I secured the financing yet they told me it was cash only and would not accept it. Then I had no access. I had to use their title company. And at the closing I received no keys no garage door opener there was a lock box on the garage door. That has to be chilled off . They did not take it off when my crew came to start the rehab. Some guy came in started taking photos. Without my knowledge. Or permission I could not get electricity turned on or water. Till I owned the property. And consumers wanted permits and all kinds of paperwork including an inspection. Yet. Auction .com Keith saying. Do all this before the day of closing. Well I cant if I cant prove I own it. Nor could I get insurance either. They are not helpful. I would never never use a company like this again. I gave a defunct garage opener with no remote and they won't contact the owner to ask them where it is. Horrible!!! Customer Service is a joke !!

georgegv
1 review
20 helpful votes
5/24/18

Never ever use Auction.com. You will pay so much more in various ways...First Auction.com's computer system is set up to bid AGAINST YOU the buyer.

Auction.com represents to seller/usually a bank hence you have no one representing the you the buyer.

Secondly the bank does nothing to preserve the house against busted pipes, cutting the grass, vandalism and according to the contract you have NO ACCESS to the house until title transfers.

You/the buyer pays the commissions not the BANK.

STAY AWAY...Auction.com is an extension of the Bank.

Response from Cynthia B., Auction.com Representative
Thank you for your comment but please allow us to clarify your comments as they are not entirely accurate. As disclosed in the Auction.com Participation Terms and property details page, Auction.com is permitted to bid on behalf of the seller up to, but shall not exceed the reserve price. Counter bidding on behalf of the seller extends the auction for assets that have not reached the reserve price and would otherwise end unsuccessfully. By extending the auction, it increases the likelihood that the auction may end successfully. This practice benefits the bidder by increasing the likelihood that the auction will produce an offer that the lender is willing to accept.

Additionally, the majority of the houses on our platform are sold "as is." It is important that buyers conduct thorough due diligence in order to assess the value of a home and should not rely on marketing materials. Suggested steps can be found here: https://www.auction.com/blog/due-diligence-10-steps-to-take-before-you-buy/.
timh251
1 review
25 helpful votes
5/21/18
• Updated review

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.

“Liars and deceivers”
5/18/18
• Previous review

We looked at three properties with our realtor that this company auction.com tricked some local realtor into putting on the MLS.
The local realtor told us that the properties were occupied but auction.com lied and said no they're not.
They try to talk you into buying properties where you have to do all the work to try to evict the tenants and just try to get homeowners insurance when you don't have possession of the property.
Then of course they tried to pressure us into using their title company promising free title insurance which was another lie.
As soon as I should this information to our realtor and our attorney they both told me to run.
Do yourself a favor stay away online paper pushers like auction.com these people from California will rip you off

Response from Cynthia B., Auction.com Representative
Hi Tim. Thank you for your review, but please allow us to clarify as your comments are not entirely accurate. Auction.com does not hire the listing agents, this is done by the seller. The listings in MLS are required to say that it is with Auction.com.

Usually the properties on Auction.com are listed as ‘occupied’ on the website. Was this the case in the property you bid on? Would you mind sharing the property address so I can look into this for you? Per our terms and conditions, “All offers should be based solely on Participant’s independent due diligence and any information contained in the Purchase Documents.”

In response to being forced to use our title company, you do have the option to use your own title company, as this is your legal right. However, there is an additional cost to use your own title company.

Please let us know if you have additional questions.
1 rating was submitted through the Sitejabber Browser Extension

Customer Questions & Answers

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They have a 92% negative review rate because they deserve each and everyone.

By Mike W.
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Have your real estate agent search title. If the property is occupied, you will have to get the people out yourself.

By Sandra R.
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If you win the auction it is a binding contract. Contracts are to be E signed within like 2hrs I think. Most are sold as is. Due your homework before you buy! Mark

By Mark H.
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The bank can and will bid against you to get a higher price (shilling). Read the web site. This practice is illegal everywhere else. but get the banks a higher price.

By James R.
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1st auction.com does not outbid bidders because you think they want to. They go by instructions from the trustee/bank. There is an opening bid and a reserve bid. The auctioneer can only bid on behalf of the creditor from the opening bid to the reserve. Once they reach the reserve they will NOT up the bid anymore. They may say " do I have any other bidders or do I hear (amount)" but they do not bid past the reserve that has been predetermined before the auction. If the property is reverted (sold back to the creditor) then the trustee/creditor for that property can do whatever they want with it. Whether it is sending it to inline auction or etc. If you will read/listen to the general terms and conditions then you will hear/see that auction.com is not a title company they do not research the properties sent to them by the trustees. They list what they are given. So don't you think you should have an issue with the trustee and not auction.com. Also, stated in conditions the trustee can rescind the sale at any time. Again how does that fall on auction.com if the trustee backs out. Auxtion.com works with many trustees throughout the United States so if those are people's issues maybe they should do their due diligence and contact the trustee instead of giving auction.com such bad reviews.

By A S.
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The trustees don't allow the reserve to be shown. Nothing to do with auction.com. They go by the instructions the trustee sends them.

By A S.
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The best option is to go straight to the bank, if it's a bank foreclosure auction, and find who their listing agent/broker is. These sites are almost rigged to have the house go back to market or auction. That may be in the sites best interest, but not the banks... Especially if the time to pay property taxes is coming up. Not an answer i know, but take my word for it, don't trust auction.com with as important an investment as your home is.

By Ash B.
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That is private information that is kept secret from you. It is all weighted to the advantage of Auction.com. They can back out of the deal at any time but you cant with our losing your earnest deposit, Put a bid in but 99,9% is you will not get the property. Good luck with these crooks after you have given them all your personal information and credit card #s

By Scott V.
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For $100 ask to go in and look around. Remember that what you see today may not be what you get in 6 months. The $100 is the best money that you can spend. Remember if the home is occupied that chances are that it is a foreclosure or as others have said the worst of the worst. Make sure that you have an experienced real estate lawyer!!!!!!!!!!!!!

By Tomcat T.
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Basically from what I can see it means it didn't sell. They seem to stick on the website after the auction closes but marked as sold when they sell. But I could be wrong.

By Dannen F.
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