Auction.com

This company is very unscrupulous and anyone wanting a good deal on a house should not be tempted. Ever hear the saying "too good to be true"? Well, that's what auction.com is. The prices they show are fake you will never get a house for what they post. Bids get erased or "outbid" by their fake computer program, not by real bidders. They are also posting listings on Zillow but if I see the listing is associated w/ auction.com I run the other way. Scam artists, 100%. If you do business w/ them you will regret it.

Listed an auction at the county center that I was interested in. Was supposed to be at 10.30. There were two other auctions for different houses at that time there but not for this one. I came back home and checked online. At 12.00 pm the website still said that the auction was on at 10.30 am. Only the next day did the site say it was cancelled. Also, many of their 'online auctions' never go through as the reserve is not met and keep on popping up, but you do not know that if you follow up on their site- unlike ebay, they never show the end result the listing just disappears, only to appear later again as a new auction. Not serious

We bought a foreclosure home through Auction.com recently. The entire process went smoothly. Our transaction closed in 36 days. I was impressed with how professional our contact was with Auction.com, and also with the title company they chose.

Only advise is to be careful about what property you bid on, and decide beforehand what you are willing to pay. Some of the foreclosure banks may be easier to deal with than others. Auction.com doesn't own the homes; they are selling them on behalf of a bank or lender. Ours foreclosure was owned by Bank of America. Everything went smoothly, but took a little longer than buying a cash purchase from a private party.

WHAT A SCAM! The site itself is legitimate as I found out from doing days of research, several calls directly to them and online chats; however, I also did tons of online research, calls to realtors, treasurers, and county clerks, etc. and driving to homes for auction, county clerks office, etc. My due diligence, and was ready for auction day! I then find out half of the information wasn't even correct on the listing; house was listed as a 2 bedroom, 750 sq. Ft. And built in 1952. When I spoke to the bank who got me in touch with the realtor, she said it's 1 bedroom, 608 sq. Ft. And built in 1942. Makes a HUGE difference in what I'm willing to bid, or pay! Finally, I am waiting until right before the auction ends, like 10 seconds before, and I place my bid, so, either I should be the winning bid, or, just beat out by someone who bid after me in that 10 seconds, right? Wrong! I could accept that if my bid was beaten and I didn't win, BUT, Auction.com decides to add 3 minutes onto the clock! At the last few seconds! In all the years I've been in auctions, this was a first! And the website itself will also bid against you to get the price up to the reserve. WHAT A SCAM! I'm done with these scammers taking advantage of me! See ya!

I bid on a property and someone from auction. Com called to say the lender needed a little higher offer to make the deal work. I agreed to the increased amount and we filled out a contract. I was told i needed to be ready to close quickly. I have been in touch with the attorney office several times since then. It has been two months and now auction.com calls and says that they cannot get the power of attorney letter from the bank so that we can close. It seems like they would have had that document in hand before they held an auction. Extremely poor communication and also a poorly run company. You have been warned.

I only give this site one star because there is no option to give it zero. They talk about transparency because they tell you up front that they can rip you off by bidding on behalf of the seller to increase the bid price up to the reserve. Just because they tell you doesn't make it right. Somebody with a gun may tell me they are going to rob me but they still should go to jail. These people should go to jail! Beware of their accuracy of listings. I was looking at a house that was extremely damaged by a foreclosed owner. Nothing was mentioned in the description besides that it would be great for any buyer. I notified them of the inaccuracy but nothing showed up and bidding went on. Some state's attorney will have a field day with them one of these days!

If you place the opening bid, you will be immediately informed that isn't high enough. They tell you immediately the "Reserve Price" (the real opening bid) has not been met. If you read their rules - they do disclose they do this.
They tried doing this when handling foreclosures in Calif. The authorities cracked down on this scam like practice. They still do it in Calif. When handling bank owned properties. They will keep relisting properties if no one bids the real opening bids. I have bought a few Calif. Foreclosures they coducted but not wasted time with bank owned properties.

You will see the same house listed 6, 8, 10 times because it failed to meet an unpublished reserve. They now list a few homes with published reserves, but the published reserves are far above market prices. I have purchased a few properties from them, but nothing in the past four years due to unrealistic reserves. I have written to the people in charge and was told they don't set the reserves. In my opinion the lenders who set the reserves are totally unaware of local market conditions and this site is a waste of your time.

The Auction.com contracts all state that the seller will not pay for an owner's policy of title insurance. Linear Title slides one on the buyer side of the HUD without EVER asking if the buyer wanted it. On the day of closing, I was told that they would need to get a new deed if we don't want the title insurance and we should have told them when their legal dept. asked for marital status for deed prep. Never asked if we wanted to pay for the insurance. Told me that the seller would not grant a General Warranty Deed without the owner's policy being purchased. The Deed was prepared several weeks before the closing... and at closing we are told they would need a new deed and the seller might not sign one? This is a shady way of adding premium dollars to their pockets. I am a Realtor and have worked in the title industry for years... BEWARE!

Organized crime. The banks and this website are just out to scam you and put all the liability on the buyer, they take no responsibility and do not allow inspections as most properties are occupied! In addition they assign you a closing firm somewhere in the USA with outrageous closing fees and not only do you pay all the auctions fees, he escrow fee, non are refundable! Finally you end up paying all the seller's (Banks) closing costs and if you have an agent they will not even offer a commission in most cases because they do not want you protected! Dirt bags. My Realtor found me a better deal outside this organized crime auction!