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redc Complaints & Reviews

redcDENIAL OF BUYER REPRESENTATION

BUYER HAD AN AGENT. AGENT SHOWED HIM A HOME ON REDC AUTION SERVICES. BUYER GOES ON LINE MAKES BID & WITH ADVICE FROM HIS AGENT WINS BID. BUYER RECEIVES CONTRACT ELECTRONICALLY COMPLETED WITH HIS SIGNATURE OBTAINED FROM HIS DEPOSIT CHECK WITH NO OPTION TO NAME HIS AGENT. VIRTUALLY BUYER IS NOT REPRESENTED BY AGENCY. CONTRACT IS EXTREMELY ONE SIDED IN FAVOR OF SELLER. BUYER ASKS HIS AGENT FOR ADVICE AND HELP AS NO ONE TO TURN TO. AGENT DOES HELP OUT BUT IS NOT PAID A COMMISSON FOR HIS WORK. BUYER COMPLETES STRESSFUL SALE SUCCESSFULLY PAYING LATE FEES BECAUSE OF LOAN COMPLICATIONS AND DELAYS OF NO FAULT OF BUYER. BUYER HAS TO PUT UP MORE MONEY IN ORDER TO CLOSE THE DEAL-FHA LOAN BUT ALMOST 20% MONEY REQUIRED. BUYER GOT A DEAL, AGENT GOT BURNED. ADVICE-DON'T GO INTO ESCROW AS HIGH % OF BUYERS LOSE THEIR DEPOSITS AND DON'T CLOSE ESCROW.

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    redcscam

    i will make it short starting bid its not even close what they want so for example this house that i like the original price 165000 sold for 130000 the fha would not give the loan becouse the house is trash next offer was 110000 did not go thru ok go to the auction 5000 to show them to get in 5% comision you dont know but they have bidders that work for them to bring the price close to what they want ok you win this could happen you go back and is the price they want so they accept but theres another 10% comision they dont tell you on top of the rest plus they have 3 weeks to back out and they have your money to invest for 3 weeks plus if the hoiuse you pay more than 80000 thousand your getting the worst deal of your life becouse you have to put 50000 to 60000 on the house my advise dont pay more than 90 a square foot it will take years to recover they market its a mess take this in account low salary high inflation more people with no job if people have a hard time paying there bill you think they will pay more for a house just a thought...

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      3 Responses
      • El
        elvisperez Dec 14, 2010

        REDC is a scam for real i won a bid in miami for a condo at 105, 000 thousand and right there they aproved me .ask me to put the 5% down to sucure the house 5, 500 cash for me is a lot of money i'm a bartender married and a 2yr old son.everything look ok. A Lady thet didn't know how to fill all the papers help me, well i help her. They even got me a aproved by there lenders PROSPECT LENDERS didn't explain nothing yes you are aproved...just wait until closing date...i wait ..wait...wait. And sorry you don't pass there aproval soo sing this e-mail to release the 5, 500 down so we could take your money.They even sold the house to somebody else before the closing date...now i have to get more money to get a lawyer to try to get my money back. PLEASE DON'T GO TO THIS AUTION IS ALWAYS A WAY TO GET THE POORS PEOPLE MONEY. ANY QUESTION [email protected]

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      • Ty
        TyJr Sep 28, 2010
        This comment was posted by
        a verified customer
        Verified customer

        REDC is a scam... they make you think it will get approved but 50% of the time it doesn't. These are the same guys who used to do those 'vacation lots' contract for deed in the early 2000s - they care about one thing, getting your money.

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      • Me
        Megan M Jul 28, 2010

        There’s a reason REDC has sold $6+ billion of foreclosed properties since 2007. Trust.

        http://www.auction.com/REDC-Scam.php

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