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This auction site is complete scam.This is not an absolute auction and the seller has the right to refuse the high bid.

If you bid online, expect your bid to go right to the highest amount. My high bid was $52k and surprise surprise, I won the high bid at exactly $52k... Isn't it odd that it ended at my high bid? I was okay with that because that was what I was willing to pay, but I find it hard to believe that all bidding stopped at exactly my high bid.

The next problem was the fact that the title was not clear prior to the sale. I was told to look at the contract...The seller had up to 90 days to clear the title with no penalties. If I wasn't ready to close in 30, I was to have stiff penalties. After waiting several weeks, the title was cleared, and a week later they are threatening me that I will be charged fees if I'm not ready to close...

What a joke. Their contract is ridiculously weighted in their favor. I should have asked a lot more questions before making the bid.

Stay away from this company...Again..It's not an absolute auction, so it's really not an auction at all..It's a marketing ploy.

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Anonymous
#1099094

You are completely right.Great analysis.

The Law will always allow the Wealthy to create business to run as they wish like this one.

Complain to BBB a d the Attorney General office plus the Real Estate Board.Pour the complaints into these agencies non-stop at some point they will have to do something about this mess.

Alb0bo
Los Angeles, California, United States #667242

Rip Off

I won Bid, offer was accepted, got loan, I paid for 3,000 worth in appraisal, Fema insurance, survey. I gave notice to landlord, was packed ready to move and They canceled last minute. They breached the contract and put the house back on the market at a higher price.

Fine print protects seller and screws buyer. In contract - you are not allowed to sue, seller has a right to back out. As a buyer you give up all your rights on there BS contract. No protection at all for the buyer.

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