Auction.comReviews 435

Closed on several properties. Each and everyone took at least 3 months longer to close than contracted for. Personnel is nothing more than telemarketers. Earnest money deposits should be kept in interest bearing accounts and buyer should be compensated at closing. Of course no one wants to talk about that, or keys, or why they need to have money wired yesterday. They also try to force you into using their title companies for closing. After closing, you have to break into your own home.

If you don't believe it, read this... http://www.nytimes.com/2016/06/27/business/dealbook/private-equity-housing-missteps.html?_r=0

They are a part of a private equity mortgage theft scam that is now taking over the real estate markets all over the US. They make money through every step of the process, and pricing out regular joes like us from ever owning a home or gaining prosperity through homeownership.
Never buy a home on this site... EVER!

Approximately 30,000 homes for sale at any given time. $2,500 deposit per bidder per house. Conservatively 5 bidders per house. This equals a liquid bank account of $375,000,000 at any given time in Auction.com's account. At 3% interest they earn $11,250,000 per year on interest from money they have on deposit from sucker bidders. They have no interest in actually selling a house. They are only interested in keeping as much deposit money in their account as long as possible. The real question is, why are reputable banks allowing them to sell their REO homes when they know what they are all about?

I spent much time reviewing their properties, and considered to buy multiple homes with over xxx, xxx cash. After reading about the shill bidding, poor customer service, and many other issues I am extremely hesitant to even place a bid. Most likely I will not be using your service, unless I see someone step in and address these complaints. As of now, there is not even one person defending your company, and tons of legitimate complaints from people who have used your service, and even a complaint from someone who worked for you. This is frustrating to see, especially after registering and spending much time on your site.

I've bought three properties from auction.com & the last one was the worst! There are some good deals, but you have to be really careful or they will just let deals sit with your money tied up, give you faulty title making a property impossible to sell, and screw up every piece of paperwork.

Do NOT use their closing company Servicelink-they are HORRIBLE and incompetent. We got to closing and they provided the wrong deed. It then took over 80 days to get them to correct it. The closing specialist at auction, Lynette Achong, was completely unresponsive for weeks-my realtor and I called and emailed daily for two weeks to get a response. She was rude and when we pushed, she would threaten to kill the whole deal & keep my earnest money if we didn't stop calling. I told her to bring it on-she wouldn't have a leg to stand on. She was basically mad we used our own title company who caught their mistake. She said she had planned to close our deal to have it count for her April numbers & our insisting on the correct deed was going to mess up her pay bonus... tough, honey... not my problem...

No one will ever let you talk to anyone's supervisor, but when we got to 80+ days and no response for weeks & her threats, they finally elevated it & got it done. It required a director at servicelink to force the title agent their, Heather Moeser, to do her job.

The vast majority of their properties have a problem, which is why the banks use the auction sites to sell them. You have to do your homework and I wouldn't recommend the site for inexperienced real estate investors unless you have a savvy realtor to help you. Properties are sold as is, including title issues, so it requires either a lot of due diligence or such low prices you're not risking much.