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Auction.com / REDC / Horrible customer service/hinkey preactices

MI, United States Review updated:

Bid on a piece of property, won the bid, but did not meet the reserve! Totally excited!! Within 48 hours, money was wired and all their 800 million pages of paperwork was printed and signed (on our dime!). After they had all the documents and our money, they called to tell us that we did not get it. Really? If I did not win the bid, then why was I told I did? If I did not win the bid, why did they need my money? Round and round with a bunch of people that new nothing. My husband said they were reading off a flow chart...seriously!!! Finally get ahold of someone who I think knows something and his concern was if I wanted to make another bid? Sure, can you tell me the reserve so we can cut out the crap. His answer was no. So was mine. I called the following day to see about my refund and see how long it would take. They were closed...on a Tuesday! What reputable company that does business with the public is closed on a Tuesday. In the end, we recieved our deposit back...thank God. I would never do business with either one of these companies. Scam is to say the least. Lots of hinkey practices and paperwork. Save yourself time and money...lowball a listing before auction!

Ma
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Comments

  • Au
      9th of Apr, 2012

    Dear M&D.

    Thank you for your concerns. All winning bids are subject to the seller’s approval, which they have up to 15 business days to review. Before the seller will review the offer, the Earnest Money Deposit needs to be submitted into escrow. In all cases, the seller is not Auction.com, but the actual financial institution that holds the loan and has foreclosed on the asset. Once the auction ends, the highest bid is submitted to the seller for review, if the winning bid is not accepted by the seller, the asset may go up for auction again, but we do not have access to the reserve amount, as the seller decides both the opening bid and the reserve amount. Auction.com is open 7 days a week, but it is possible that the Escrow Company was closed for an unknown reason when you contacted them regarding the refund of your Earnest Money Deposit.

    If I may be of further assistance, please do not hesitate to contact me at [protected]@auction.com.

    Sincerely,
    Peter Chevalier

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  • Pe
      8th of Aug, 2012

    We apologize for any inconvenience this may have caused you. Several of our properties are auctioned off as Cash Only transactions. This is determined by the seller of the property after their review of many factors in relation to the property. I do hope you will give Auction.com another shot and if you have any concerns or questions about any asset we have on our site, please feel free to contact our Customer Support Team at 800-793-6107. Peter Chevalier, Director of Customer Service

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