Auction.comReviews 434

I won an action. I went over the reserve. 2 months after winning I finally get word that the seller rejected by winning bid because it was too low. I was told that the mortgage insurance company thought my bid was low. This property was on auction.com for a year and I was the first person to meet the reserve. What a waste of time.

This website is so full of crap. The first time I ever got on it I looked for properties at my home area where it promptly told me that four of my neighbor's houses were up for sale. I spoke to the owners. None of those properties were up for sale. And just today I got an email for a property that is supposed to be going up for auction however when I went to the local sheriff's department website there is no option upcoming and I couldn't find the auction anywhere online through any other source. This means that again, this website is lying about the properties that are actually for sale. It lies probably more than it tells the truth. That's a really messed up thing to do to someone looking to buy a house and it's especially unnerving when your own house winds up online listed for sale. Terrible website and absolutely dishonest. Do not believe what they say about auctions or properties

Shady Auction site! Bidding against Customers
They're always bidding against me to drive the price up!

DIRTY!

I recently purchased a vacant bank foreclosure on Auction.com and got a very good deal and had a quick, easy and enjoyable experience from bidding to closing. If you do your research and know what to expect it's hassle free and actually is much easier than dealing with non responsive brokers or fussy sellers. Tips: Don't place proxy bids, the site will just bid it up to the reserve, as is disclosed. Don't fight the form contracts, yes they are silly one-sided but you are getting a good deal or otherwise move on. Supply all the required info immediately after you win. Yes you have to pay a 2500$ deposit to bid to keep the fakers out of the bidding. Got it back in a day. Do use a buyers broker as you are paying for the agents anyway and Most importantly do opt to use your own title
Company for the closing.

I sat and watched them counterbid themselves 3 times in a row in order to drive up the price on 2 different houses. THAT is just a dishonest practice.

I had registered for an auction that started on Feb 21,2022 and supposed to end on Feb 23,2022. I was waiting for the 22nd afternoon to place my bid when suddenly the auction was canceled. Then they supposed to start the auction today, according to their website. When I went to register, the property said "pending" and there was no option for auction. This website is rigged! They probably found someone to buy it and left all of us, interested buyers, with no fair chances of bidding... what a waste of time. False advertisement should be illegal and there should be a sanction for companies that don't stand by customers and proved wrong information. DO NOT USE THIS WEBSITE... THEY ARE NOT SERIOUS... FALSE INFORMATION AND NO ONE TO TALK TO THAT CAN GIVE YOU A REAL ANSWER!

What a joke. Auctions that end early because the seller and buyer have any agreement outside of the auction. It looks like deals are just a way to launder money by posting as a legitimate sale only to have the deals close within a minute of the auction starting. Lol.

Their agreement they make you sign to participate in the remote bidding option they offer states that they are not liable for anything, even in the case of gross negligence or intentional fraud on their employees part.
Would not have believed that if I had not read it for myself. Imagine sending them hundreds of thousands of dollars and knowing that. I have e-mailed them multiple times to get an explanation on that and they won't respond. Low integrity company in my opinion. They also bend every legal rule they can at live auctions, including fake bids in an effort to make more money.

Our first lienholder required the use of Auction.com when we went through the short sale process. They won't allow the sellers' agent to conduct negotiations and instead "do it" themselves. Their idea of negotiating is telling the second lienholder they must accept X amount or 'we' (sellers I presume) will sue them. Many, many months later the second lienholder approves the offer. Settlement is scheduled. A week before settlement was to occur, the first lienholder now denies the sale because after all this time the appraisal had expired. Of course, the house appraised higher. The buyer wouldn't increase his offer so we were back to square one.

The 'negotiator' at Auction.com would only ever want to communicate over the phone. She never had anything to say - just kept repeating herself, giving the same non-info in various ways. She told me the second lienholder had to accept the first's offer. Okay... then why aren't they? She gets the second lien rep on a three-way call and tells him that that company is terrible. That certainly didn't light a fire under anyone to get the deal done.

Since it fell through, we relisted publicly. First lienholder sent it to Auction.com who advised the realtor to list it with certain language. She ignored the directive because we already had an offer in hand that was over the asking price. Luckily, no one bid, and Auction.com was no longer involved.

Not surprisingly, the realtor's negotiator got results much, much more quickly than the people at Auction.com. We are finally rid of the house we tried so hard to keep (but couldn't sustain because of non-paying renters), no thanks to Auction.com.

Won a home on auction.com. The address is ******* YALAHA RD
Yalaha, Florida *******.

Got the contract and it's not bank owned as they advertise, the seller is an LLC private investor. I decided to dig a little deeper and they seem to bid on their own homes which is considered shill bidding which is illegal in all states. An example in section 817.41 talks about it shall be unlawful for any person to advertise in any way or by any medium whatsoever, any sale as "wholesale sale" in our case its "Bank owned" which is the "whole sale" equivalent in the real estate market, or terms of similar purport designed and intended for obtaining money or property under false pretenses. This law is also simular to California law.

When I emailed the ceo of the company he didn't respond he sent his dogs to reply to me of which were unprofessional, he then blocked me and suspended my auction.com account because I was questioning their multiple misleading practices.

So here is a summary of auction.com
1. They shill bid which means they bid on their own properties

2. Non of their homes are owned by banks or foreclosure, most are private investor looking to make quick buck. The home we purchased had foundation problems and termites, the seller and agent and broker knew about it but still relisted it. Ther were multiple bids prior to me winning the auction and I see its impossible to have been real bidders cause if they were they would have reached out to the 2nd highest bidder instead they relksted the property without notifying bidders it has foundation and termites as required by law.
3.

Contact your attorney General and file an sec report asap if you been neglected by this company. This is unacceptable.

They list a property as a Banked owned foreclosure once you are the high bidder and you have won the property, and they have collected the earnest money They will change it to Privet Seller, and when you ask them why was it changed they say it was a typeerror, They want to keep the earnest money, this is Not over By any Means I will Not Allow Them to Get away with This type of Bossiness Practices

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.

I went into contract on a property at the beginning of December 2020. It is February 17,2021 and we still haven't closed. This is a cash deal. It should be easy. I was just told that the closing has been pushed to March 15,2021 because the seller (the bank) needs to sign an addendum. Since when does a signature delay closing one month. And what bank doesn't want a fast closing? I am lucky if I can get someone on the phone. And the person that takes the car never has the answer to any of my questions. They have been holding my deposit for three months and providing no information. Unprofessional and unethical. Beware and do your homework.

I was pressured into a quick arm twisting decision from offer acceptance to fully executed contract, that's roughly half way trough the process. I wanted to take title but was in process on LLC doc's from division of state, I was treatened if I didnt perform under my personal name, I would forfeit my deposit / earnest money deposit. I can't believe just how terrible its been getting midway through the deal from staff all the way up to supervisor / managing staff. I gave them 1 star because that was the lowest grade I could give SMH in total disgust.

Won a auction, someone from auction.com called and told me I won the auction, I specifically asked if the seller accepted the bid, he told me they did and I have to wire the earnest money within 3 hours or I would loose the property, so we jumped through all their hoops, a few days later I received a email saying the bid was refused, so now we are out the time and money because they lied to us, Hopefully I will get the earnest money back, they will not reimburse any wire fees, they said it's a cost of business, THEY ARE A RIP OFF ARTIST, STAY AWAY OR THEY WILL RIP YOU OFF!