I bid on one house and won it, then another. In both cases the deals were very good. All the stories of closings getting extended are true. These are mostly repos and take time. Expect a 60 - 90 day close. I lost one where I was the high bidder but under the reserve. It took 30 days but they rejected it (the bank). Remember these are repos and can be hard to get to closing, but if you get one you likely will get it at a very good price. These houses are also for sale locally so a realtor can come in and buy a house for her local client as well. The people working at auction.com are not as knowledgeable as they used to be. It is also an impersonal assembly line process so don't expect great service, to be remembered from previous calls or to get really good answers. But, they are not a scam and if you are trying to make some money you can do well. Not 2009 well, but well.