Auction.com is not an auction of foreclosed properties. Auction.com simply is the middle man to the lender with the goal to help the lender receive as much money as they can for any given property. Which presents a multitude of problems for buyers.
Most if not all depending on your location, Auction.com homes do not have access to inspect prior to bidding. This should be unacceptable to all buyers.
Shill bidding happens constantly. It's not an auction.
Auction.com does not provide lien information, title search or allow for a title search after an "accepted bid". You buy it, you pay for liens.
If you "win" you don't really own the property. Your bid gets presented to the lender then they decide if they'll sell it. Or if they'll relist it, change the reserve, change the terms or a multitude of other changes, which by the way if you disagree with and decide to back out, Auction.com keeps your deposit they required for you to bid!
Auction.com phone staff are mostly unprofessional and could care less about the bidders financial well being or outcome.
A real auction is, bidders review a piece of real estate inside and outside. Potential bidders get lien info and all other financial pertinent documents provided then decide if and how much to bid. If they're the highest bidder, they win and closing is scheduled with the lender. This is not how Auction.com operates. It's a 100% crapshoot for buyers from start to finish. Why anyone would commit their money to this Auction.com system is beyond my comprehension.
Bottom Line: No, I would not recommend this to a friend
30 people found it helpfulLink to this Review
We’d appreciate a chance to speak with you regarding your experience. Please call 800-793-6107 Mon – Fri 7am to 7pm CST. Or email us with your contact information at firstname.lastname@example.org.