Auction.com

A Complete Sham.
You are bidding against a bot in place by the bank. Case in point; a recent property just 2 doors down from where I live went up for bid. I put in one bid with room for me to clean up the house and still make a profit. Only to watch the biding continue well past profitability for TWO HOURS at $250 increments. Is any real purchaser willing to waste two hours of their time placing $250 bids? Another tell is that they can reduce the bid increment and place a bid in the same instant. In the bid I mentioned, I watched the clock and the bid increment, the site shows a $5,000 increment at 3 seconds left, then the bid jumps by $2,500 and the increment drops to $2,500 resetting the clock. You never see the increment drop without a matching bid increase. Bottom line don't be fooled into thinking this site has any legitimacy!

I believe its about getting your $2500. Deposit because I did everything right.won the property auction and signed all and then was told the bank didn't accept the offer, which was very close to reserve, Please these are cash deals. 70k for a house with torn out heating system and other damage in no-place PA? And the bank didn't take it? Bull SHT!
When I called them on it got a totally different story about the reserve and all. SHifty scam business. The Title company that help my escrow was only reputable part, got it back quickly. What a waste of time and effort. You wont win or get anything from this Auction. SCam

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

They disclose the bi bidding in several places so if you don't know about it your not paying enough attention to the website. I don't like it but at least they inform about it. The way they do business is not good for the buyer but they don't work for the buyer. I make a low offer on their listing and forget about it. If the auction was absolute or they would disclose the reserve price I would invest more time completing due diligence and my offer would be higher. It's just not worth it to go through all that with all the games they play. I don't understand why the minimums are often higher than market, especially with the unknown risks you are taking. I recently bought an identical unit they had listed, but in perfect shape and nicely furnished for $4,000 less than their minimum on a unit in poor shape with no furnishings and all the other extra expenses they charge and risky unknown issues that a buyer would possibly have to deal with after the purchase. WHO WOULD BUY THAT?

These guys are professional con artists... highly trained at what they do. They played this game so long and they know the psychology behind people after they give their earnest money. They called me back and said "you were not the winning bidder (reserve not met) but auction.com has the authority to negotiate because bids were close to the reserve. As the 2nd place, we're giving you the chance to take it". We took it and gave them $xxk but 2 weeks later they came back and said "oops, seller didn't agree, do you have money you can offer or we will cancel the contract". The bid specialist and their boss play the "good cop / bad cop" roles and these guys have gone through much training to maximize profits by playing the game using psychological techniques.

I am remodeling my new Home, I purchased on auction.com! I won the auction for 2500+ a $2000 buyers premium, I read some reviews and I was scared for all the bad reviews on this page so I contact my lawyer he said it was a legit company! He said that the only problem with auction.com is that you never know if the house owes any Taxes, water billsI I paid my lawyer and extra $500 but he make sure my house had clean title and if there were any violations to the property, once he was done with the investigation he said to proceed that everything was fine I signed a contract, and send a wire payment then Sellers bank called me a month after too to do the closing it just takes patience but I'm very happy with my new home.

The site says you will get a $2,500 credit card hold in order to register. This is a lie. Just 20 minutes after attempting to register, which the site said "failed", my credit card company locked my card and when I called they confirmed it was NOT just a hold, it was an attempt to charge. Now I have to wait a week for a new credit card. Jerks.

After successfully bidding the highest amount on a house ( At least 14th time on website to bid) I was instructed to jump thru hoops like a circus dog to download 80 docs and wire funds of over 7,000.00. Did it and met all requirements, told by rep from auction.com mortgage company would contact us as to the status. Well bid was declined, its been over 4 days now and my 7,000.00 earnest money not yet returned. And the price I offered was a fair price and it took wells fargo over 2 weeks to let me know the status of my offer. This was a waste of time for all parties involved. Banks should but the reserve out for public knowledge and save alot of time and BS

This is the worse company I deal with. Please keep out of them and save Time, money and headache.
I won a bid on Porter Tx. They take 2 months to do the closing. Diferent peoples take your file and no one know what to do. They sent me 2 extensions after the first closing date expire.
After all this c... p I told them I don't want to continue, theirs answer was " if you don't cooperate by sign the extensions you gonna lost your E. Money ($12.000)
I never, eeeeeeeeever deal with this crap company again. They should not be on business.

Found out auction.com listed a home for Freddymac. Home is in totally horrific state and was destroyed by squatters. Mortgage company obtained home back from county foreclosure. What really gets me is auction.com through a shady broker than cannot be reached wants to run the home on auction, found phony excuse not to let anyone in to see true interior condition of the home before bidding... lead paint. On auction.com phony old pictures of when the home was in perfect condition have been posted. I think this is shady, unjust and irresponsible behavior and possibly a crime. They should be reported, sued and charged for misleading consumers about conditions of home auctioned on their site. They claim owners sent them incorrect pictures as an excuse while they have access to the home and are quite aware of the situation. Smh.