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2.5 77 Reviews

Auction.com Complaints Summary

23 Resolved
36 Unresolved
Our verdict: Engaging with Auction.com, which has a below-average resolution rate, demands caution. Thoroughly assess their service reviews and explore how they handle unresolved complaints. If you encounter issues, document your experiences meticulously and be persistent in seeking resolutions.
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Auction.com reviews & complaints 77

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12:00 am EDT

Auction.com Mixed Experiences with Auction.com

As someone deeply involved in real estate investments, I understand the importance of transparency and professionalism in the industry. Looking at the reviews for Auction.com, it's clear that customers have had mixed experiences. While some have praised the platform for providing good deals and a smooth process, others have expressed frustration with unprofessional behavior and lack of respect towards buyers. It's essential to approach Auction.com with caution, ensuring you do thorough research and understand the potential risks involved. Remember, real estate investments require careful consideration and due diligence to avoid any unpleasant surprises. Stay informed, stay vigilant, and make decisions that align with your investment goals.

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6:36 am EDT
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Auction.com Best real estate deal in industry for me since 2007

You like the deal.? Well you need to put some thought into it. Auction. Com is legit company, posting property for bank, owner, investor who can ALWAYS change their mind. Your job is to find property, if possible look at it and bid.Sign contact and follow the process and HOPE for the best. You need to know that sometimes your point of contact is man in Chicago and you are buying in Texas. Different law, marketing etc... Auction.com will answer EVERYTHING and discuss what they can see but AGAIN it's up to the bank to SAY last word. Please use it I did in 2007 and was THE BEST DEAL EVER.

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5:26 am EDT
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Auction.com Amazing experience, everything as promised

We closed on our first auction.com property earlier today and the process from start to finish was very smooth. Fortunately, we chose to ignore the majority of negative reviews as it was clear that almost all of them had clearly not read through the auction.com rules or fine print.

We went into our transaction with open eyes and were not disappointed. The customer service team was amazing. Answered every phone call and returned every email. I had every question answered before I even placed a bid and after we won.

We would absolutely use the site again and be sure to due our due diligence.

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Is Auction.com legit?

Our verdict: Complaints Board's thorough examination reveals Auction.com as a legitimate entity with notable strengths. Despite a 38% resolution rate on customer complaints, which invites a closer look, Auction.com stands out for its commitment to quality and security. Clients considering Auction.com should delve into its customer service record to gauge compatibility with their expectations.

Auction.com earns 96% level of Trustworthiness

Perfect Trust Endorsement: Auction.com achives 96% ligitmacy per Complaints Board. Highly recommended, yet always stay vigilant.

We found clear and detailed contact information for Auction.com. The company provides a physical address, 3 phone numbers, and 2 emails, as well as 2 social media accounts. This demonstrates a commitment to customer service and transparency, which is a positive sign for building trust with customers.

Auction.com has received 9 positive reviews on our site. This is a good sign and indicates a safe and reliable experience for customers who choose to work with the company.

The age of Auction.com's domain suggests that they have had sufficient time to establish a reputation as a reliable source of information and services. This can provide reassurance to potential customers seeking quality products or services.

Auction.com has a valid SSL certificate, which indicates that the website is secure and trustworthy. Look for the padlock icon in the browser and the "https" prefix in the URL to confirm that the website is using SSL.

We looked up Auction.com and found that the website is receiving a high amount of traffic. This could be a sign of a popular and trustworthy website, but it is still important to exercise caution and verify the legitimacy of the site before sharing any personal or financial information

However ComplaintsBoard has detected that:

  • Despite a high level of trust, our investigation found issues with Auction.com's service, including poor customer service, lack of accountability, and responsibility to resolve complaints. Customers may face long wait times for responses, receive generic or unhelpful answers or no response at all. Only 38% of 18 complaints were resolved.
  • There was some difficulty in evaluating or examining the information or data present on the auction.com. This could be due to technical issues, limited access, or website may be temporarily down for maintenance or experiencing technical difficulties.
  • Auction.com protects their ownership data, a common and legal practice. However, from our perspective, this lack of transparency can impede trust and accountability, which are essential for establishing a credible and respected business entity.
  • We conducted a search on social media and found several negative reviews related to Auction.com. These reviews may indicate issues with the company's products, services, or customer support. It is important to thoroughly research the company and its offerings before making any purchases to avoid any potential risks.
  1. Pros
    1. Wide property selection
    2. User-friendly online platform
    3. Transparent bidding process
    4. Detailed property information
    5. Support for buyers & sellers
  1. Cons
    1. Limited Property Types: Focus mainly on distressed assets.
    2. Buyer's Premium: Additional fees can inflate purchase costs.
    3. Intense Competition: High demand for properties can drive up prices.
    4. As-Is Sales: Limited recourse for buyers if issues arise post-sale.
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Auction.com They made my life!

A year after winning my house on here, I'm sitting here, so comfy, nicest house in town, dream home, and can't believe the horrible reviews and saying its a scam. I'm thankful for these people every single day. Bad reviews must just not have won or didn't get what they expected, which is not auction.com problem. These are foreclosed houses. Never in my dreams would I be able to afford this house, now can add another kid, so much room, if I had a lot of money I would buy so many off of here and fix them up if needed. ***% NOT A SCAM in any way shape or form! Would do it again in a heartbeat!

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Auction.com Appreciate her advice

She was candid and gave me a lot of helpful advice & info. You know what would help? A facebook support group where people could ask questions, share horror stories & share good experiences. A place where people could learn from others mistakes & get words of wisdom by seasoned pros. If I had people to chat with about all that I would feel a lot more comfortable bidding for the first time. You'd probably get a lot more people to do this. And, I think it's a lot better for neighborhoods when someone who's going to occupy the property wins the auction rather than professional investors wanting rental properties. On Facebook I'm Tsura Nuri

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Auction.com Professional, easy to work with, and a good deal

We bought a foreclosure home through Auction.com recently. The entire process went smoothly. Our transaction closed in 36 days. I was impressed with how professional our contact was with Auction.com, and also with the title company they chose.

Only advise is to be careful about what property you bid on, and decide beforehand what you are willing to pay. Some of the foreclosure banks may be easier to deal with than others. Auction.com doesn't own the homes; they are selling them on behalf of a bank or lender. Ours foreclosure was owned by Bank of America. Everything went smoothly, but took a little longer than buying a cash purchase from a private party.

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Auction.com Great experience!

I was super nervous after reading all the bad reviews on here, but my experience was great. I think the people complaining have no clue how the auction process works. Auction.com is just the middle person, all these house are bank owned. You have to do your due diligence. The process is as good as you make it. We had a few issues with paperwork,(zip code was wrong), and I did have to make multiple phone calls to get it fixed but everyone was super nice, and communication was prompt. Some people might be angry that multiple phone calls where needed to fix the problem, but I bought this house for ten's of thousands under value, so I don't mind doing a little extra leg work. I wouldn't hesitate to buy another property through auction.com!

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Auction.com Was glad I took a chance!

I won my bid Nov. 5th 2015. I was not so cconfident in the beginning. I read some bad reviews. So here is my opinion.
Don't be afraid to not go after what you want as a buyer. Bid with confidence. Yes. There is a price the seller will need met. With my property the reserve was reasonable. Even with the buyers premium I still got a fabulous deal. My closing cost ended up barely over 200. And it took 32 days to close and I have the keys. A small two day extension that cost me no fees.
Looking at my closing fees. It was the seller who ended up with the shaft. Out of the ***. 00 I paid. He ended up with under 4000. 00. He was not happy. And delayed closing by a hour. But I was very happy.
Auction.com did a excellent job throughout this process. Every agent I spoke to or worked with was professional and I never spent a minute hanging. They have this down to a art. And I felt looked after. Even though my property was a small one. I was treated like it was a high end property start to finish. The closing company made sure the title was clear and taxes were paid.
My advice: I paid for the entire property and not just the minimum in the beginning. That made everything move faster. And they saved me a lot of money. It actually made the 2500. 00 worth it.
I wouldn't bat a eyelash at doing this again.

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Auction.com Very vague with information. Steals money from buyers

Bidding process: I chose to bid on a house located in Detroit Michigan on Bramell street. This is the second time that this website has listed this house for auction. The first time it was up for bid, did not register to bid on this particular house. The second time, I did. What a friggin mistake from the start. First, the website does not update it's search page information. When you search for a home in any location, they give you a list of homes for sale in the area of choice and it's surrounding areas. When you are scrolling through the resulted list, they had the starting bid on the side as details. That's the problem. The search results led me to believe that the offer was still, the entire next day (03/18/2020), starting at $1,000. So, they did not update the bid information, I went ahead to register for this particular auction house, I was charged $50 for the auction registration, and a $2500 hold, which the hold would be charged if I do not participate in the bid or if I cancel. Okay, no problem. I get it, to ensure bidders are playing to win and not to waste time, you hold the funds, no problem, right? Wrong. Literally, after I agreed to the terms and conditions of the registration to bid on this house on particular that the search page had still priced at $1,000, literally the price was not $1,000. The price was actually $10,000 and I was required to bid in $2500 increments. Once again, the search results stated that the house, which had been for auction starting 03/17/2020 at $1,000 was still $1,000 on 03/18/2020. It was not until they held the $2550, that I was now introduced to the actual bidding price and the number of bidders on the house. I was forced to bid! Why? Because you can not cancel a bid, nor can you not bid at all, because if you choose either action (to not bid or choose to cancel) theyll pocket the $2550 for non compliance. Scam! Scam because their search page is misleading. The numbers are erroneous and outdated. The least they could do is update the bidding price on the landing page. I shouldnt have to have my money stolen in order for me to find out the true results of an auction. Thats their biggest looohole in their terms and conditions in which I am able to file a civil suit against this company due to their negligence and incompetence to update their search page results to the actual updated bidding price. You mislead people and take their money before they can even find out the truth. If a house that a client is searching for had a starting bid of $1000 yesterday and has now increased to $15k today, the search results should also update the bid to say $15k. It should not still show as a $1k house, tricking bidders into registering and throwing away money for properties that haven't been updated as far as its new bidding price. I am calling my lawyer today. This is egregious and unethical. I guess if the site cant profit from real estate transactions, they profit from misleading information that could cost bidders their hard earned money.! Stay the $#*! Away! Below I have attached 3 pics. The first two is of the search results page and the bidding price (which has not been updated on the results page for purposes unknown to me). As you can see, they elude to buyers that the bid is still at $1000 (basically makes it seem as if no one has bid on it yet to get you to register so they can remove the $2550 from your account and to begin the process of keeping your money for a lie that they told you in order to get you to bid. You have to bid or else they'll keep the $2550 for non participation fee. So basically, they $#*! you all the way around.) The third pic is of how much the property is really bidding for. The fourth pic is of the bidding increments that are NOT reported on the search page, which is how they trick buyers into registering to bid. You don't have information about the price increments and bidders UNTIL YOUVE REGISTERED AND THEYVE STOLEN THE $2550 FROM YOUR CARD ALREADY). Beware. Be very aware! You're better off buying from your hometowns landbank. REMEMBER, I ONLY BID ON THE HOUSE BECAUSE I WAS UNDER THE IMPRESSION THAT NO ONE HAD BID ON THE HOUSE YET (SINCE 03/17/2020) AND THE HOUSE WAS STILL AT $1,000. (WHICH IT WAS ACTUALLY $10,000 AFTER REGISTRATION).

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Auction.com Not A Scam, But Unethical, possibly illegal selling practice

Okay, so like many I stumbled across Auction.com and wondered if this was a scam when they asked for $2500. 00 for a bidding deposit. This is not a scan. HOWEVER, I encountered countless times of poor customer service, fees, unethical practice and misleading information.

Here is my story:

Mid-West Bank Foreclosure Under 40K

I was caught up in their computer bidding system and did not win the bid. I couldn't believe the bid went that high, but realized their computer was just bidding $2500 over what I entered. They even did a $5 over bid at the very end to "play the game." They kept adding 1 or 3 minutes to the "countdown" to keep me engaged. They made it seem like several investors were on the line and everyone wanted this hot poperty. Ha. I was called a week later and told I was the highest "real" bidder and I could make an offer. I made an offer and it was accepted by the bank who actually owned the property. (The reserve was way higher than value). I did call the actual bank and they told me I had to go through Auction.com... So that answers one question for you. I'll later explain how other properties hit the market on places like Realtor. Com months after being on Auction.com

I'm sure you looked through all of their Property Disclosure reports. They have all of these fancy reports I reviewed 10 times. I looked through everything on their Auction.com deck. I walked around the property, but could not get inside. Not until I actually paid the $2500. 00 and signed a purchase agreement did I get a report I had never seen. This report was filled out by the company who went in and secured the property. This was a hand written, fill in the blank type report that contained very important information like the roof leaked, holes in the walls, appliances gone, floors needed replaced etc... Information I assumed could possibly be wrong, but hoped for the best. They hid this information until I sent the signed purchase agreement. When I called I was transferred to a "hard sales" person who told me if I don't like it, then just bail out. So here I am... $2500 out of my account and I now find out all of these issues that will cost me 5-7K in repairs.

I had a decision to make... do I continue or jeopardize my $2500. 00. I moved forward, but was not happy and still not happy with them keeping important information from me until locking into the deal. Information they had months prior. If I would have seen that report prior to making an offer I would have came down about 5-7K in my offer.

So, it is my fault? Yes. Is it unethical, wrong, misleading and possibly illegal to hide known property information to a seller. Yes. They tell you as-is and have information to keep their side "legal." But is hiding information until the $2500. 00 clears illegal? They could have put that report on their website for me to see prior to making an offer.

During the process I was continuously moved down the assembly line. I would work with a team member for a few days and on to the next. I had 48 hours to submit information and then would wait days to hear back from the team. Basically, Auction.com is the middleman in a assemly line property transaction.

Fees: This part is still a mystery. No realtor, appraisal, inspector etc... Nothing. I asked about the fees at the beginning of the process and was told they could be $300 to $1500. I asked why would it be $1500... no realtor, no appraisal etc... I assumed it would be on the low end because I did my own title search and didn't request any additional work. I was wrong. So wrong.

They hit me with $1700+ on fees and told me I had no choice but to pay or lose my $2500. Their "closing" was $900... I was called on the "closing" day with the wrong lock box code numbers and eventually got the right numbers. I paid $200 for a title "search" I already did. I was forced to pay this when I had already completed this on my own. $200 for a title "exam." $175 for a title "curative," $75 for a "deep prep." $60 for a title "udpate." $25 "courier fee." $25 for a "wire fee". You pay your bank $25 for a wire transaction and then Auction.com charges you another $25 to accept your money. I'm not making this stuff up... I'm reading this from my closing document. There were about 8 fees that totaled the $1700+ and about $100 were actually legit fees like Deed prep and county filing fees. Once again, I was told I had to pay these fees or lose my $2500. I told them I wanted to choose my own closing Agency. I was told I had to pay $700 in closing whether I use my own or theirs. So basically you are going to pay the fees one way or another or lose your down payment.

Like I said, If I knew this info at the beginning I would have adjusted my offer. I was surprised by about 7K in repairs, fees etc. that they KNEW and shared after I signed deal.

Would I recommend Auction.com? NO.

If this information isn't enough to stay away, here are some tips:

Do not pay above or near the "reserve". I've seen several properties on Auction.com not meet the reserve and ended up on Realtor.com 10K less a month later. One real example was a property on Auction.com with a reservce of $34,500. This was on there for about three months going to "auction" every other week. I just saw the same property on Realtor.com for $25,000.

Expect Fees and new info after signing. Just plan on paying $1500+ in "closing" costs. And you might find out surprising info about the house after you sign and pay $2500.

Understand that Auction.com will make money through their "closing" fees. They will also charge the bank or home owner 5%. (*These numbers are on a under 40K house) So if you bid a property more expensive I imagine the fees are even more.

The closing docs. Showed Auction.com raking in $3-4K on the deal. They had the bank pay for all of their fancy reports and were basically the assembly line for the process.

In short, I overpaid around 7K for the property because they didn't disclose known information until after I signed the purchse agreement. I had to make a decision to lose my down payment or continue. I moved forward and obviously still upset about the process. They are like the cable company of real estate. Too good to be true.
Buy your properties at your local Sherriff sale, craigslist or even Realtor.com. You are going to pay the same fees and "closing" with Auction.com as you would using the standard method.

It was convenient I didn't have to meet anyone in person or go to a bank, but, I paid for it.

My final thought... Not A Scam, But Unethical, possibly illegal selling practice.

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Auction.com Auction.com Scam: Lost Condo to Investor/Friend Despite Being Top Bidder

I tried to buy a condo that was listed with a local broker for $138,060. We were told we had to buy it through realtor.com, even though it was fresh on the market. Not the realtor's fault by any means. We offered over the list to the realtor, but she told us that it was out of her control. We signed up with realtor.com and offered $135k due to the 5% commission fee to the auction. The bid did not meet the reserve price, and it went offline. We emailed the auction and told them we would be willing to negotiate, but there was no response. We then emailed the broker with an offer of $142,500. She called us back and informed us that it was still out of her control and that she was very sorry. It was going back on auction.com again soon. So back we went and got registered. We started bidding on November 1st in the morning auction to end at 1 pm. We bid 9 times, and the reserve came off at $132,500. We were the highest bidder. Great! I told my wife, so excited! Still not ours, honey. This was around 11 am, two hours to go. I told her people could bid at the last minute, but that's okay. The clock resets and gives you two more minutes to counter-bid as I've seen before on this site. No problem, I thought. We were the top bidder until 2 seconds left, then it happened. The screen told us we were outbid, and the condo vanished from the site. No chance to counter. What the f***! Sold to someone else just that fast. I called customer service, and they told us that their monitor showed extended time, and it was my fault! A total lie and the biggest scam I have ever seen. I talked to a manager, and he said I didn't refresh my screen. Also a lie. It showed we were the top bid, and the clock was working as it should! Shortly after, our realtor called and asked what happened because she was watching the auction and confirmed the exact same thing! Wow! She felt so bad, but again she could do nothing. Found out later that night that the bank that owned the condo lowered the price from $138k to $129k right before it went on auction.com for the second time! Even though we offered $142,500 before it went back on the site, then sold it for approximately $10k less at auction.com. Sounds like there's a snake in the woodpile! We believe that a friend or investors stole our house from us! We will not let this rest. We will fight this until all avenues are exhausted! Attorneys, social media, local news teams, and the bank itself. This should be illegal. This can't go on; we must fight! PS. I should have read the reviews before, like I normally do. But we wanted the condo so much I wasn't thinking straight. Will keep posted if anything changes. Thanks to all.

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Auction.com Auction.com: Separating Fact from Fiction in the Reviews

I ain't never used auction.com before, but I'm thinking about it. I done read through a bunch of these negative reviews and I gotta say, some of them are straight up fake. Let me break it down for y'all.

First things first, you gotta understand that auction.com is all about getting the highest price for the seller. They ain't tryna get you no sweet deal, so don't get it twisted. If you go in with the wrong mindset, you're gonna have a bad time.

Now, let's talk about them fake complaints. People be whining about how they don't show the reserve price. But think about it, if they did, then everyone would just bid the reserve right off the bat. That ain't gonna help the seller get the highest price. And eBay been doing the same thing for years, so why y'all acting brand new?

Another thing people be crying about is how the site bids against you. But they tell you that right upfront on the auction page. If you're bidding big bucks without knowing how it works, then you're just being dumb. It's a way to manage the reserve price not being published. You may not like it, but it makes sense.

And don't even get me started on people complaining about time being added to the auction. That's just how it goes with online auctions. The goal is to maximize the sale price, not get you a bargain. They add time to keep the bidding going higher. If you don't understand that, then you don't understand auctions.

Now, let's talk about them real complaints. Poor customer service and rude agents. That could be true, 'cause no organization is perfect. But also think about it this way. The winning bidder is already frustrated 'cause they can't get the deal done. They call customer service and the agent can't do nothing 'cause they ain't got no control over the bank or reo company. Everyone's gonna be mad in that situation.

So there you have it. Don't believe everything you read on the internet, y'all. Auction.com ain't perfect, but it ain't all bad either. Just go in with the right mindset and you might come out with a good deal.

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Auction.com Auction.com Review: Worst Real Estate Transaction Ever - 7 Months of Aggravation and Scams

I won an auction on Auction.com back in December and was required to sign a contract and provide funds within a few hours. Since it was a cash purchase, we were supposed to close within three weeks. However, after signing the contract and expediting the funds, I was informed that someone would contact me with further instructions and the closing date. Unfortunately, a week went by and I still hadn't heard from anyone, so I decided to contact them again. I was told to wait until a closing agent contacted me, but another week or two went by with no contact. At that point, I became impatient and complained to a representative at Auction.com. I eventually spoke to a supervisor who informed me of the closing agent assigned to my case.

I've purchased several properties before, so I'm not new to this, but this was my first and most likely my last purchase from Auction.com. I've signed four extension forms since then, and it's now been four months since I won the auction. I finally have a closing date of April 6th, and I will update the final outcome.

Wow! I finally closed on this property, and it has been the worst real estate transaction ever. It dragged out for seven months! I finally hired my own title company to get things moving faster, but I had to agree to pay the final water bill since the bank couldn't seem to get a final water reading for closing. I went to closing on July 24th, 2015, and literally one minute prior to closing, the attorney's office working for Auction.com faxed over revisions for the HUD-1, which required me to pay their $1200.00 fee. This fee was outrageous, considering I didn't hire them, Auction.com did. Then they said I agreed to pay these fees in the original contract I signed with Auction.com.

Throughout the entire seven months, I continued to check on the property since it was vacant. However, Bank of America had hired a company by the name of Safeguard to maintain the property. The front door had a lockbox similar to the ones the realtors use with a code and keys inside. After closing, no one gave me the code to the box, so I called Safeguard, who informed me to break the box off the door. To my surprise, when I arrived at the property, the door was open, and people were actually living in my house! I confronted them, and they informed me that someone claiming to be the owner rented them the house.

To make a long story short, the person at my house had been scammed by someone who broke into the property and claimed to be the owner. This is one reason why I didn't want the closing to drag out so long. During that seven-month period, someone else broke in and stole the copper pipes and the water meter. I finally got the people out of the property and am now awaiting the deed. Hopefully, this won't take another seven months.

I do not recommend using Auction.com to purchase real estate. The only good thing I could say that came from this was that I got a great property at a great price. But the aggravation was not worth it. I could go to the bank and ask for their REO listings and still get great deals.

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Auction.com Auction.com Review: Be Cautious Before Bidding on a Property

Auction.com is a platform that allows banks to sell properties online. As a licensed Real Estate Broker/Qualifying Broker/Owner with 27 years of experience, I have some concerns about the platform. I recently won a bid on a property (6 Willow Rd, Edgewood NM) that I had knowledge of as I had listed it for sale years ago. However, when I went to preview the property prior to the final bidding, I became very suspicious. The home had been totally rehabbed although the pictures in the Inspection Report show the property in its trashed condition when taken back from the borrowers.

I won the bid on Friday, but before I could return the purchase agreements on Monday, I received a phone call stating US Bank removed the property so the purchase had been cancelled. It is my opinion that Auction.com is an online platform for banks to dump unsellable properties to inexperienced folks allowing Auction.com to collect all sorts of junk fees in the process whether the deal closes or not!

Here are some important points you need to know before bidding on a property on Auction.com. Firstly, you are only given 24 hours/1 business day to sign all docs and deposit earnest money after you have won the bid. If you don't meet this deadline, they will keep the $2,500 credit card deposit (required to be a valid bidder) as a penalty. Secondly, proof of funds is required before they would forward the purchase agreement even though it is advertised this info needs to be included when you return the signed documents.

Thirdly, don't bid on a property until you have done your own due diligence. The Title info under the property listing was not current. As a Realtor, I am able to do a title search through a local title company and found the legal document "Assignment of Defendant's Rights of Redemption" e-recorded against this property more than a month after the date of the title info posted on this site. More than likely, clear and marketable title would not have be obtainable & my transaction would have been cancelled.

Fourthly, title is transferred via a Quit Claim Deed or a Special Warranty Deed with Title Insurance for which you must purchase. If you agree to a Quit Claim Deed, you are accepting Title with all clouds/liens. I believe this is their preferred method passing the title problems to the buyer.

Fifthly, most documents to purchase the property are written by and for Auction.com. There are many ways for Auction.com to keep most if not all of your Earnest Money deposit (which is 5% of the purchase price). The documents state the earnest money is nonrefundable! (only refundable if title insurance cannot be offered due to clouds on the title). Plus, the Title Company/Closer can keep deduct from your Earnest Money for any fees they incur whether the deal closes or not!

Lastly, the Title Company listed for this deal was in Florida. I called to confirm they were legit, spoke with a lady and requested the Title Closer/Escrow Officer call me back and she never did. That was a red flag. Before signing these documents, I requested a change to my purchase agreement stating a local NM Title Company. Next thing, my transaction had been cancelled.

As a Realtor, I could see all of the caveats tied to this purchase. I went with their Title Company as I figured it would get the bid accepted. When I requested to change Title Companies to one in my local market, the property was no longer for sale. I did not give Auction.com any money as I was leery of all aspects of their processes. In conclusion, be cautious when using Auction.com and do your own due diligence before bidding on a property.

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Auction.com Auction.com Review: Proceed with Extreme Caution - Unethical and Morally Wrong Bidding Practices

I gotta tell ya, I had a pretty bad experience with Auction.com. I put in a fair market offer on a short sale, and the seller accepted it. I went through over two months of the process with the bank, and everything seemed to be on track. But then, the bank brought in Auction.com to verify that my offer was "fair market". They wanted to hold an online auction, like eBay, and use my offer as the reserve price. I was pretty ticked off about this for a few reasons.

First of all, the house was in the rural northeast, not California where the bank is based. The market doesn't support auction-based selling in that area, and it should have been done the old-fashioned way, with a realtor. Second, the seller had already accepted my offer, so the bank shouldn't have been entertaining any other offers, let alone an auction. And third, how can an online auction even be trusted?

So, I had to register for the auction, but if I bid even $1000 over my current offer, I would have to pay a 5% commission on the total sale price. That was a substantial amount, so I couldn't bid any higher. The seller agent had to have an open house, even though the house was technically "under contract" and not even listed. Only a few people showed up, and the auction started very low. The bid increment was $50k, and after the first day, several bids came in, but they were nowhere near mine. The next day, more bids came in, and the bid amount was sitting at $5000 less than my offer. It looked like my offer would stand, but then, mysteriously, a bid of $5k more came in to tie my offer. This reset the clock to 2 minutes, and the bid increment was lowered to $5k, but it still said "reserve not met". As the clock ticked down to 1 second, another bid came in for $5k, putting it above my offer, but it still said "reserve not met". The bid increment dropped to $250, and this continued for almost 2 hours, and then the listing just disappeared.

I smelled a rat big time! The next day, I called and posed as a bidder rather than the offer holder. I explained the bidding war at the end and how the listing just disappeared. The rep looked it up and said the reserve had not been met and the house had not sold. So, I had the seller agent contact all the people who registered for the open house to see if they bid, and guess what? Only one bid! They bid once, and it was a very low ball bid! This means that Auction.com was doing the bidding itself in an attempt to get us to bid and pay them a 5% commission! They have total control of the bidding and the "perceived" reserve amount! As a buyer, you're not only bidding against other buyers but against the site as well! And even if you win, the seller can decline your winning offer! The whole thing is, in my opinion, ethically and morally WRONG!

So, my advice to you is to proceed with extreme caution if you're thinking about using Auction.com. I don't trust them, and I don't think you should either. These kinds of auctions should be illegal!

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Auction.com Mastering Online Real Estate Bidding: My Experience with Auction.com

I gotta say, auction.com has been a real game changer for me and my real estate business. But let me tell you, it wasn't always smooth sailing. When I first started using their platform, I was scared out of my mind. I mean, who wants to risk losing their hard earned cash on a property they might not even be able to sell? But I knew that if I wanted to succeed in this tight inventory market, I had to master the art of online bidding.

And let me tell you, it wasn't easy. There were so many hidden mines that could wipe me out if I wasn't careful. But after spending a lot of time studying their technology platform and developing systems, processes, and checklists, I was able to win several bids and document my actual, hands-on experience.

One of the biggest things I learned was that you have to know your numbers. You need to have a clear exit strategy and know your bid sweet spot range before you even think about bidding. For me, that meant using a formula that took into account the After Repair Value less (profit, holding, marketing, repair, and contingency costs). And let me tell you, having a checklist with over 80 items on it really helped me stay on top of unexpected repair costs.

But it's not just about knowing your numbers. You also need to know the different property types and occupancy and status types before you bid. Trust me, bidding on a property without knowing these things can be a costly mistake.

And once you win the bid, there are still a lot of unexpected requirements you need to follow to secure the bid and protect your deposit. But with the right training and strategies, you can mitigate your risk and create a win-win situation for you and the foreclosed owner.

That's why I highly recommend checking out our free webinar at https://7figure.easywebinar.live/registration. We share all of our strategies, secrets, and recommendations to help you succeed in online real estate investing. Trust me, it's worth it.

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Auction.com My Frustrating Experience with Auction.com: Buyer Beware

I gotta say, I had an experience with Auction.com that left me feeling pretty frustrated. Don't get me wrong, if everything goes smoothly, you can end up with a great property or deed in your name. But if something goes wrong, you're pretty much on your own. In my case, the closing company that Auction.com handed me off to (Ginali Associates) had me close on a home that wasn't even available anymore. I found out the day after I wired them $80K and signed all the closing documents. Talk about a letdown.

To be fair, my beef is more with Ginali than with Auction.com. But the fact that Auction.com chose Ginali as my closing company makes me feel like they're kind of responsible too. After all, I didn't choose Ginali myself - Auction.com did. And when things started to go south, Auction.com didn't really step up to help me out. I know they're just the facilitator, but still. It's frustrating.

My main contact at Auction.com was a woman named Cindy Allen, who's supposed to be a "closing specialist." But it was really hard to get ahold of her, especially when I had questions or concerns leading up to the closing. She only seemed to contact me when I hadn't signed off on a doc-u-sign electronic signature document. And when I did finally talk to her, she didn't seem all that interested in helping me out. She just wanted me to sign the document that would release Auction.com from any legal action.

Long story short, it took me 7 weeks to get my $84K (including the EMD) back. And that was only after I contacted the seller myself and worked directly with them. I wasted 4 of those weeks trying to work with Ginali Associates, who eventually stopped following up with me on the status of my refund. It was a real headache.

So, if you're thinking about using Auction.com to buy a property, I'd recommend doing your research and reading through reviews like this one. And be prepared for the possibility that things might not go smoothly. If that happens, Auction.com probably won't be much help. I know I won't be using them again. And neither will my two friends who watched my situation unfold.

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Auction.com Misleading Bidding Information on Auction.com: My Unpleasant Experience

I recently had an experience with Auction.com and I have to say, it was not a pleasant one. I decided to bid on a house in Detroit, Michigan on Bramell Street. This was the second time the house had been listed for auction on the website, and the first time I had not registered to bid. This time, however, I did register, and it was a mistake from the very beginning.

The website's search page information was not updated, which led to a lot of confusion. When you search for a home in any location, the website provides a list of homes for sale in the area and its surrounding areas. As I was scrolling through the list, I saw that the starting bid for the house I was interested in was $1,000. However, this was not the case. The actual starting bid was $10,000, and bids had to be made in increments of $2,500.

I had already registered for the auction and was charged $50 for the registration and a $2,500 hold, which would be charged if I did not participate in the bid or if I canceled. I understand the need for a hold to ensure bidders are serious, but the misleading information on the search page was unacceptable.

It was not until they held the $2,550 that I was introduced to the actual bidding price and the number of bidders on the house. I was forced to bid because if I chose not to bid or canceled, they would keep the $2,550 for non-compliance. This felt like a scam to me because the search page was misleading, and the numbers were erroneous and outdated.

The least they could do is update the bidding price on the landing page. I should not have to have my money stolen in order for me to find out the true results of an auction. This is their biggest loophole in their terms and conditions, and I am considering filing a civil suit against this company due to their negligence and incompetence to update their search page results to the actual updated bidding price.

If a house that a client is searching for had a starting bid of $1,000 yesterday and has now increased to $15,000 today, the search results should also update the bid to say $15,000. It should not still show as a $1,000 house, tricking bidders into registering and throwing away money for properties that haven't been updated as far as its new bidding price.

I am extremely disappointed with my experience with Auction.com, and I would advise others to stay away. The website's misleading information could cost bidders their hard-earned money. You're better off buying from your hometown's landbank.

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Auction.com Auction.com Review: Unethical Practices, Hidden Fees, and Poor Customer Service

So, like a lot of people, I found Auction.com and was skeptical when they asked for a $2500 bidding deposit. But let me tell you, it's not a scam. However, I did have a lot of issues with their customer service, fees, and unethical practices.

Let me tell you about my experience. I found a Midwest bank foreclosure for under 40K and got caught up in their computer bidding system. I didn't win the bid, but I was called a week later and told I was the highest "real" bidder and could make an offer. I made an offer and it was accepted by the bank who actually owned the property. However, the reserve was way higher than the value. I did call the actual bank and they told me I had to go through Auction.com. So, that answers one question for you. But, here's the thing, I later found out that other properties hit the market on places like Realtor.com months after being on Auction.com.

Now, I'm sure you looked through all of their Property Disclosure reports. They have all of these fancy reports that I reviewed 10 times. I looked through everything on their Auction.com deck. I walked around the property, but could not get inside. Not until I actually paid the $2500 and signed a purchase agreement did I get a report I had never seen. This report was filled out by the company who went in and secured the property. This was a handwritten, fill-in-the-blank type report that contained very important information like the roof leaked, holes in the walls, appliances gone, floors needed replacing, etc. Information I assumed could possibly be wrong, but hoped for the best. They hid this information until I sent the signed purchase agreement. When I called, I was transferred to a "hard sales" person who told me if I don't like it, then just bail out. So, here I am, $2500 out of my account and I now find out all of these issues that will cost me 5-7K in repairs.

I had a decision to make. Do I continue or jeopardize my $2500? I moved forward, but was not happy and still not happy with them keeping important information from me until locking into the deal. Information they had months prior. If I would have seen that report prior to making an offer, I would have come down about 5-7K in my offer.

So, is it my fault? Yes. Is it unethical, wrong, misleading, and possibly illegal to hide known property information from a seller? Yes. They tell you as-is and have information to keep their side "legal." But is hiding information until the $2500 clears illegal? They could have put that report on their website for me to see prior to making an offer.

During the process, I was continuously moved down the assembly line. I would work with a team member for a few days and then on to the next. I had 48 hours to submit information and then would wait days to hear back from the team. Basically, Auction.com is the middleman in an assembly line property transaction.

Now, let's talk about fees. This part is still a mystery. No realtor, appraisal, inspector, etc. Nothing. I asked about the fees at the beginning of the process and was told they could be $300 to $1500. I asked why would it be $1500... no realtor, no appraisal, etc. I assumed it would be on the low end because I did my own title search and didn't request any additional work. I was wrong. So wrong.

They hit me with $1700+ on fees and told me I had no choice but to pay or lose my $2500. Their "closing" was $900... I was called on the "closing" day with the wrong lockbox code numbers and eventually got the right numbers. I paid $200 for a title "search" I already did. I was forced to pay this when I had already completed this on my own. $200 for a title "exam." $175 for a title "curative," $75 for a "deep prep." $60 for a title "update." $25 "courier fee." $25 for a "wire fee." You pay your bank $25 for a wire transaction and then Auction.com charges you another $25 to accept your money. I'm not making this stuff up... I'm reading this from my closing document. There were about 8 fees that totaled the $1700+ and about $100 were actually legit fees like Deed prep and county filing fees. Once again, I was told I had to pay these fees or lose my $2500. I told them I wanted to choose my own closing Agency. I was told I had to pay $700 in closing whether I use my own or theirs. So basically, you are going to pay the fees one way or another or lose your down payment.

If I knew this info at the beginning, I would have adjusted my offer. I was surprised by about 7K in repairs, fees, etc. that they KNEW and shared after I signed the purchase agreement.

Would I recommend Auction.com? NO.

If this information isn't enough to stay away, here are some tips:

Do not pay above or near the "reserve." I've seen several properties on Auction.com not meet the reserve and ended up on Realtor.com 10K less a month later. One real example was a property on Auction.com with a reserve of $34,500. This was on there for about three months going to "auction" every other week. I just saw the same property on Realtor.com for $25,000.

Expect fees and new info after signing. Just plan on paying $1500+ in "closing" costs. And you might find out surprising info about the house after you sign and pay $2500.

Understand that Auction.com will make money through their "closing" fees. They will also charge the bank or homeowner 5%. (*These numbers are on an under 40K house) So if you bid a property more expensive, I imagine the fees are even more.

The closing docs showed Auction.com raking in $3-4K on the deal. They had the bank pay for all of their fancy reports and were basically the assembly line for the process.

In short, I overpaid around 7K for the property because they didn't disclose known information until after I signed the purchase agreement. I had to make a decision to lose my down payment or continue. I moved forward and obviously still upset about the process. They are like the cable company of real estate. Too good to be true.

Buy your properties at your local Sheriff sale, Craigslist, or even Realtor.com. You are going to pay the same fees and "closing" with Auction.com as you would using the standard method.

My final thought... Not a scam, but unethical, possibly illegal selling practice.

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Auction.com Auction.com Review: Shill Bidding and Dishonesty Disguised as an Auction

So, I went to auction.com to bid on a property that was being sold by Freddie Mac. I had some trouble with the real estate agent representing Freddie Mac, who wouldn't even take my bid because he felt it was too low. I called Freddie Mac to get a better understanding of their selling agency policies, but they used double speak and shifting to not actually say something that would give them responsibility. Nevertheless, I felt like the listing on auction.com was legitimate.

When the agent emailed me to let me know it was going to auction, everything felt at least normally legitimate. I was already a little annoyed because I feel like banks aren't awesome and the use of an auction site was to get the highest price while shifting all the undesirable contract terms and costs to the buyer. But, I set my top price lower to accommodate for this and registered for the site without even thinking about whether it was safe or scammy.

I placed the first bid, having read that they would proxy bid to try to bring it up to reserve. I was already annoyed with this, but it felt close enough to business as usual that I just decided to stick to my number and if it wasn't out of reserve to not worry about trying to buy it.

After I registered, I placed a proxy bid at the lowest price and then watched it carefully wondering what it would actually sell for and if there was a reserve (not initially disclosed until the auction started). Sure enough, there was a reserve, but the reserve amount was not disclosed. Frustrating, but business as usual for one-sided power transactions. I got the first bid in at 6 am. At about 10 am, I was notified someone outbid me. I looked and saw the reserve was not met and just assumed it was the counter-bidding process. I ignored it because initially the bid increments were set way too high at $10,000 and with a counter bid that meant it was already out of my top price. Then the bid increment was dropped to $5,000. I assumed this was the bank realizing it messed up, as the property was basically ignored except for my opening bid and their counter bid. I watched it a bit more closely because something was starting to nag at me and because I realized that any smart buyer would not buy this property above a certain amount. Then I saw another bid, and for a second, thinking there was another bidder in the mix, thought about going up just $5,000. But that nagging feeling got to me again.

I realized that as long as the property was under reserve, in the pattern happening on this property, that the last bid was likely a counter bid. Which meant that auction.com had counter bid twice in a row. And also meant I was the only one in the auction.

At first, I was accepting of the counter-bidding thing, pre-auction, just grumbling about how if there was a reserve price with a desire to counter bid like that, they should just start the auction at the reserve price. But during the auction, it really became clear to me that when the seller is bidding to boost the price to the reserve, it's not an auction. It's a negotiation. The site should not use this feature and even pretend to be an auction. It's absolutely shill bidding, and even when disclosed, it's dishonest and lacking integrity. It's absolutely the bank's (and auction.com by being the intermediary that sets part of the terms) desire to maximize all the best things while shifting all the worst things about property transfer, but disguising it as an auction.

It's not worth the extra premium, the disenfranchising terms, that loss of protection of the inspection and title work as part of the contract, if the seller through the auction.com designed process, bids against the buyers.

I did a search then and came across this site and honestly my heart sank. This was a joint venture buy and it's the other guy's credit card and phone number on the account, I have to inform him of the risk that his credit card number might get stolen and he might get spammy calls from an auction site that's only supposed to deal with me, to try to bring up his bid. All because I legitimately thought this was a legitimate avenue based on working with a realtor and Freddie Mac.

I've only been to two other (live) auctions that were like this and I can tell you nobody wants to work with those banks or auctioneers again. The difference is, that if the second one gets caught, they'll get their license yanked/the first bank ended up shooting themselves in the foot, but auction.com is allowed to run this scammy unethical shill bidding process and be legitimized by also ethically-compromised mortgagers. Worse, the computer clearly kept bidding against itself, the reserve was never overcome, and at the end of the auction, the listing completely disappeared, without any trace in the dashboard, history, or on the site. Other auctions in the region that concluded are still listed but marked over. This one is just gone, no trace. I'm guessing by the other reviews it's because it didn't sell and it will be back on the auction site again until the house falls down (totally happens in this region, banks insisting on a certain price, dropping it only to still be too high given the deterioration, and then the city tearing it down). Update: Yup, a day after I wrote this review it appeared again as an auction, with the same opening bid, lower bidding increments, and no hint that it was already failed auctioned once. They're going to dragnet for a sucker for this house paying too much, and it's going to be sad.

I'm giving two stars rather than one because, while the whole process was uncomfortable and misleading, even where they were upfront, they haven't actually screwed me yet.

I'd like to say I can't believe Freddie Mac would use this site, but the truth is, it and other mortgagers are probably just as home-sale-judgment-and-integrity impaired as the site, they've just had a much longer history to get themselves seen as legitimate in the way they operate business.

I wish I would have looked at these reviews and taken a pass. Now I need to worry about whether they will screw or annoy my business partner, potentially damaging our relationship, because I'm the one who suggested we bid on this site.

The name of the site is misleading because this is not a true auction, not as long as the seller can counter bid. That's really negotiating while trying to trick buyers into thinking they are attending an auction with the rules and benefits of an auction and actually bidding. Call it negotiate.com or something else. Not really an auction site. Just another avenue for skeevy mortgagers.

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Auction.com Customer Reviews Overview

Auction.com is a popular online real estate marketplace that offers a wide range of properties for sale through online auctions. The platform has received numerous positive reviews from satisfied customers who have successfully bought or sold properties through the site.

One of the most commonly cited positive aspects of Auction.com is the ease and convenience of the platform. Users can easily browse through a large selection of properties and participate in auctions from the comfort of their own homes. The site is also user-friendly and easy to navigate, making it simple for even first-time users to find what they're looking for.

Another major benefit of Auction.com is the transparency and fairness of the auction process. The site provides detailed information about each property, including photos, property reports, and other relevant data, allowing buyers to make informed decisions. Additionally, the auction process is designed to be fair and transparent, with all bids and offers being displayed publicly for all participants to see.

Many users also appreciate the customer support provided by Auction.com. The site offers a range of resources and tools to help buyers and sellers navigate the auction process, and customer service representatives are available to answer questions and provide assistance as needed.

Overall, Auction.com is a highly regarded online real estate marketplace that offers a convenient and transparent way to buy and sell properties. With a wide selection of properties, user-friendly interface, and excellent customer support, it's no wonder that so many users have had positive experiences with the site.

Auction.com In-depth Review

In summary, Auction.com is a platform where people can find and bid on properties. It is good for people who want to buy properties for less money than usual. But, it is important to know how to use the site and understand the rules. Now, let me talk about different parts of Auction.com.

Website Usability and Design

  1. Navigation and Layout: Website is easy to use. Finding things is simple because menus are clear.
  2. Mobile Responsiveness: Site works well on phone too. You can look at auctions and bid from your mobile.
  3. Search Functionality: You can search for properties by location, type, and price. It is very helpful.

Auction Inventory and Selection

  1. Variety of Properties: Many different properties to choose from. You can find houses, apartments, and more.
  2. Geographic Coverage: Auction.com has properties in many places in the United States.
  3. Types of Auctions: They have foreclosure, REO, and other types of auctions.

Registration Process

  1. Ease of Account Creation: Making an account is easy and fast.
  2. Verification Requirements: They ask for some information to make sure you are a real person.
  3. Access to Auction Information: After you sign up, you can see all the auction details.

Bidding Process

  1. Clarity of Auction Rules: Rules are explained well, but you should read them carefully.
  2. Bidding Interface: Bidding is easy with their system. It is clear how to make a bid.
  3. Real-time Updates and Notifications: They tell you right away if someone else makes a higher bid.

Property Information and Listings Accuracy

  1. Detail of Property Descriptions: Descriptions give a lot of information about the properties.
  2. Quality of Photos and Virtual Tours: Photos and tours help you see what the property looks like.
  3. Accuracy of Property Valuations: Sometimes the prices are right, but you should check with other sources too.

Pricing and Fees

  1. Buyer's Premium and Other Fees: They add extra fees to the final price, so you should know this before you bid.
  2. Transparency of Total Costs: They could make it clearer about all the costs you will pay.
  3. Comparison with Traditional Real Estate Costs: Usually, you can save money compared to buying a property the normal way.

Customer Support and Resources

  1. Availability and Responsiveness: Customer service is there to help, but sometimes they take time to answer.
  2. Educational Resources for Buyers: They have guides and articles that teach you about buying at auctions.
  3. Dispute Resolution and Support Services: If there is a problem, they have a process to fix it.

Closing Process

  1. Efficiency of Transaction Completion: Closing the deal can be quick if everything is in order.
  2. Assistance with Paperwork: They give some help with the paperwork you need to do.
  3. Communication of Closing Steps: They tell you what you need to do next to finish buying the property.

User Reviews and Testimonials

  1. Customer Satisfaction Levels: Some people are very happy, but others have had problems.
  2. Success Stories and Case Studies: There are stories of people who got good deals on properties.
  3. Complaints and Resolutions: When people complain, Auction.com tries to solve the issues.

Security and Trustworthiness

  1. Data Protection and Privacy Policy: They say they keep your information safe.
  2. Accreditation and Industry Compliance: They follow the rules of the real estate industry.
  3. Reputation within the Real Estate Industry: Many people know Auction.com, and it is a big name in the market.

Payment and Financing Options

  1. Accepted Payment Methods: They take different ways of paying, like wire transfer and cashier's checks.
  2. Financing Assistance or Partnerships: They can connect you with companies that help with loans.
  3. Escrow Services: They use escrow to keep the money safe until the deal is done.

Post-Auction Services

  1. Property Management Resources: They give information on how to take care of your new property.
  2. Recommendations for Renovation or Repair Services: They can suggest companies to fix or improve the property.
  3. Resale Support and Advice: They give advice if you want to sell the property later.

Innovation and Market Presence

  1. Use of Technology in Auctions: They use new technology to make auctions better and easier.
  2. Market Trends and Positioning: They know the market well and use this knowledge to stay ahead.
  3. Expansion and Growth Initiatives: They are always trying to grow and get into new markets.

Social Responsibility and Ethical Practices

  1. Community Involvement and Impact: They do things to help the communities where they work.
  2. Environmental Considerations: They think about the environment in their business.
  3. Ethical Auction Practices: They try to be fair and honest in their auctions.

Overall Experience and Satisfaction

  1. Summary of Pros and Cons: Auction.com can save you money, but you need to understand the process. Sometimes customer service is slow.
  2. Recommendations for Specific Buyer Types: Good for people who know about real estate and auctions. Not so good for beginners.
  3. Final Verdict and Rating: Auction.com is a useful site if you want to buy property for less. But you must be careful and do your homework. I give it 4 out of 5 stars.
How to file a complaint about Auction.com?

Here is a comprehensive guide on how to file a complaint against Auction.com on ComplaintsBoard.com:

1. Log in or Create an Account:
- If you already have a ComplaintsBoard.com account, log in. If not, create a new account to proceed with filing your complaint.

2. Navigating to the Complaint Form:
- Locate and click on the 'File a Complaint' button on the ComplaintsBoard.com website. You can find this button at the top right corner of the website.

3. Writing the Title:
- Summarize the main issue you have with Auction.com in the 'Complaint Title' section. Be concise but descriptive.

4. Detailing the Experience:
- Provide detailed information about your experience with Auction.com. Include key areas such as transactions, the nature of the issue, steps taken to resolve it, personal impact, and the company's response.

5. Attaching Supporting Documents:
- Attach any relevant supporting documents to strengthen your complaint. Avoid including sensitive personal data in these documents.

6. Filling Optional Fields:
- Use the 'Claimed Loss' field to state any financial losses incurred and the 'Desired Outcome' field to specify the resolution you are seeking.

7. Review Before Submission:
- Review your complaint for clarity, accuracy, and completeness before submitting it. Ensure all necessary details are included.

8. Submission Process:
- Click the 'Submit' button to submit your complaint to ComplaintsBoard.com for review and posting.

9. Post-Submission Actions:
- Regularly check for any responses or updates related to your complaint on ComplaintsBoard.com. Stay informed about the progress of your complaint.

Follow these steps carefully to effectively file a complaint against Auction.com on ComplaintsBoard.com. Your detailed complaint can help address your concerns and potentially lead to a resolution.

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