1) They make you give them $2500 deposit to bid.
2) They never release the "reserve not met".
3) They never accept the highest bidders offer.
4) You never have a contract until you accept their counter offer, which is much higher than your "highest bid".
5) They have silent non-real bidders that are there only to drive the price up. They even tell you that they will do this. FRAUD.
The bottom line is they have no real auction, it's only a way for the banks to get the highest bidder to start negotiating after the auction.
They hold all the cards and you are left with wasting your time or overpaying for a foreclosed house.
Why pay over retail because they will never sell it for the starting prices or even the highest bidders prices. That's what I believe and have seen over and over again.
Bottom Line: No, I would not recommend this to a friend
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