Lindsay K.

The house that I wanted was a repo. Bank had 10 offers so they decided to put it to auction. Move on to auction.com, we bid and "win." Next thing that happens is I get a call to fill in blanks (name, address, broker name, etc), then you need to sign contract within 2 hours, send money via wire within 24 hours, submit paperwork within 24 as well. Then my 115,000 winning bid jumped to 120,750. I ask what that's for, they say buyer's premium. I ask what that is, they say it's their fee. I have to pay them $5750? For why?! Move on to contract that only we can see, it's 52 pages. Have a friend look over it, it is very fishy. Basically inspection done before signing, must sign before utilities get turned on, utilities must be on for inspection, and not to inspect before bank officially accepts our bid (which they have 15 days to do so). I wasn't about to lose 6 grand over this if something was wrong with the house. I was told by auction.com's Lindsay Wyatt that she isn't a lawyer and can't interpret the contract, I said well that's my friend and my's interpretation. She said we aren't lawyers either. I said I know! She said we couldn't inspect the house because it was occupied. I told her that i viewed it 3 weeks ago and nobody lives there. She said she could only go off her paperwork. I said it was wrong, she didn't believe me. Then she says oh wait, you are right, DUH I'M RIGHT! Then she couldn't answer my questions and to call the bank's realtor. The realtor was also frustrated and he hadn't even been privy to the contract. He said he'd call the bank and get back to me, which he didn't do. Lindsay then emailed me saying they rejected my offer. I said the bank? She said yes. Then she needed me to email her a cancelation email saying why. I emailed "But the bank cancelled? Why do I havery to send a letter?" I never got a reply. Then 4 days later she called, very rude, you must email with cancelation today, I said I was gonna go through with the sale until the bank wouldn't let us inspect the property properly. She said that likely the bank wants to know we are serious buyers. Why would I pay for an inspection if I wasn't serious!? She then said she made a note of it but I needed to email with the reason by end of business day. I said I would try to do so. When she wasn't making any money, she was very rude.

Buyer beware!