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CALL FOR CLASS ACTION. CONTACT ME IF YOU HAVE HAD SIMILAR EXPERIENCE.
There are several fishy and unscrupulous aspects of this company, but the worst one is that the contract of adhesion that you are forced to sign to purchase the property is unfair and one-sided. Under the law it is called illusory, because it requires the buyer to perform, but the seller can simply choose NOT perform (ie., not sell the property you the bargained for property) any time it wants. I am not talking about the 15 day period after you sign the contract, during which they require a deposit and consider whether to accept your bid. (For me, during this time, they came back and asked me to raise my price or lose the deal, even though I had been high bidder). No, I am taking about after we both sign the agreement. I approved title, endured weeks of delays after the so-called closing date, signed all closing documents and funded all of my purchase price, and now they are saying perhaps they will not do the deal with me after all. The agreement I was forced to sign, and the agreement you all signed too, lets auction.com simply decide at any time that they can cancel the agreement and just give your deposit back. That is grossly unfair and not allowed by law.
It may not make sense for each of us to sue this big company on our own. But if we get enough people together with similar experiences, perhaps we can retain a class action attorney (their agreement says we waive that right, but the 9th Circuit has disallowed such waivers in the past).
Everyone who has similar complaint contact me ASAP.
[protected]@gmail.com
The auction.com employees and the sellers themselves bid up the prices until the reserve is reached. The buyer has no idea that someone is manipulating the price and is often led to believe that someone else is willing to pay those prices! In fact you may be bidding against yourself !
Those interested in bidding, remember to add 5-7% to your purchase price if you are calculating rate of return.
Dear hatailor,
Thank you for posting your concerns. As provided in our terms and conditions, except where prohibited by law, during a live bidding event (online or otherwise) the Auctioneer may open bidding on any Property by placing a bid on behalf of the Seller and may further bid on behalf of the Seller, up to the amount of the Reserve Price, by placing successive or consecutive bids for a Property, or by placing bids in response to other bidders. Also, the total purchase price will include a buyer’s premium equal to the greater of five percent (5%) of the winning bid amount or $2, 500. We look forward to you trying Auction.com again and if you do have any questions, you may contact Customer Service at [protected].
Sincerely
Peter Chevalier - Director of Customer Service
Last one was clearly a fake comment
I completely agree. Auction.com forced me to submit my $70, 000 deposit and sign their 1 sided contract and after over a month from the end of the auction, I still haven't seen the contract signed by the seller. Furthermore they have failed to provide disclosures as required by CA law.
Auction.com has misled several of my clients, telling them one thing by phone, and then changing their story more than just once. We have yet to see seller signed contracts and in PA the state law says that only written agreements are legally binding. Therefore when they won't return that signed agreement back to you they are not letting the buyer start their 10-15 days for inspections and most moretgage companies and title/escrow companies want that signed agreement before they can start processing a loan or title for the home. It is impossible to keep to a closing date with these practices. Also, they refuse to provide sellers disclosures which are required by PA state law. They are also refusing to acknowledge that PA is a buyer choose state for title companies - the BUYER gets to choose. You can not force a buyer to use their company - that is ILLEGAL. I am going to have to advise my clients to try to avoid their properties online until their auction site policies change and they start following our state LAW. Unless the buyers are willing to wait a long time for their closing and risk their deposits.
Dear Mullson,
We’re sorry to hear you and your clients haven’t had an excellent experience with Auction.com. It is unclear in your case but it sounds like you are an agent working with clients who bought assets on Auction.com. Our company and our affiliates comply with the licensing laws in all of the states in which business is conducted and maintains brokerage licenses. We also post all available disclosure documents online for each specific property. And we always allow the buyer to select their title company. I'd be happy to discuss this further and come to a mutual resolution. Please give me a call at [protected].
Sincerely,
Peter Chevalier
Director of Customer Service Auction.com
We were the high bidder and got their one sided contract. We signed it and sent it in. We also wired them $27, 000 earnest money. Two weeks later they accepted the offer and THEN we received a list of code violations that the City had issued that are going to cost an additional $100, 000 to fix. They are saying that they had told us about it. I suppose we have to fight to get our earnest money back.
They are CROOKS. We will contact the office of the Comptroller and the Currency to report them.
Agree that soon they will find themselves in a class action lawsuit. Contracts are on sided and have conflicting instructions. Purchased a condo REO through online auction. Not only are you required to pay the 5% bidder fee, you have to pay escrow fees and just discovered that the bank did not pay back HOA dues or taxes up to the close of escrow, that is your expense. Where I asked the escrow company and they said on page 51 of the 122 page contract, yet in the escrow instructions it says they will be pro rated to close. Conflicting paperwork! 2nd property was tenants occupied. Bid, won, paid 5% bidder fee and now have discovered that the security deposit will not be transferred, nor will the rent be pro rated rent to closing, but at least on this one HOA and taxes were pro rated up to the closing date. Wondering if it is legal in California to keep a tenants security deposit? Wondering if you sign two conflicting statements which take precedent? So done buying properties with AUCTION.COM online. At least at Auction.Com trustee sale there is no funny business (except for low opening bids that have a reserve and no one knows until you are at auction and are bidding)
Dear Neil Scott and Bidder2013,
Thank you both for reaching out with your concerns about our process and policies. We strive to make the transactions in our marketplace transparent and to clearly outline the specific financial and legal details about the assets we have listed. I’d like the opportunity to discuss this with each of you further, and to help answer any additional questions you may have. Please contact me or my Customer Service Supervisors Yamir Gonzalez or Vicky Hernandez at [protected].
Sincerely,
Peter Chevalier
Director of Customer Service
It is complete b.s. that you comply with all laws. My buyer was told if they didn't sign a blank lead based paint disclosure, their bid would be canceled.
Good initiative leichnitz!
If I had anything on them I´d join you, cant stand this kind of dishonesty. Don’t care if they have put some line in their “terms and conditions” Wrong is just wrong no matter how you package it.. dishonest, immoral theif's are what they are. They will rip you off any way they can! No better than the banks!
Good initiative leichnitz!
If I had anything I can prove on them I´d join you, cant stand this kind of dishonesty. Don’t care if they have put some line in their “terms and conditions” Wrong is just wrong no matter how you package it.. dishonest, immoral theif's are what they are. They will rip you off any way they can! No better than the banks!
A friend of mine use to work for Auction.com, he told me some of the things that goes on there.. in the end he quit his job there, cant stand them! He also told me that there where things going on that he is afraid to talk about out of fear of being sued! They made (forced) him signs some papers before quitting.. I'm sure there is others out there, I hope you find a whistle blower!
Hope you make it!
//Doris
I´ve seen them brake the law (see my complaint Auction.com — Illegal)
Its seem to be their standard!
Auctions.com is like all big corps, you follow the law when it suits you and don't when you can make a profit on it!
Dear JoBow and Weezyt,
I appreciate you both reaching out with your concerns and am sorry to hear about your experiences. At Auction.com, we pride ourselves on delivering nothing less than a positive experience for our users and brokers alike. Please contact me or my Customer Service Supervisors Vicky Hernandez or Yamir Gonazles at [protected] so we answer any questions you may have regarding our process and policies.
Sincerely,
Peter Chevalier
Director of Customer Service
Congratulations with your ability to cut and paste scammer
Dear noHome, Thank you for reaching out and expressing your concerns. I’d like to be able to set up a call with you to better understand your experience using our platform. I’m going to reach out to you directly through your ComplaintsBoard profile to see what I can do to help come to a resolution.
Sincerely,
Peter Chevalier
Director of Customer Service
Dear DorisBell,
Thank you for expressing your concerns. It is unclear exactly what information your friend relayed, but I’d like the opportunity to discuss this with you further over a call. I’d be more than happy to answer any questions you have regarding our process and policies. Please contact me or my Customer Service Supervisors Vicky Hernandez or Yamir Gonazles at [protected].
Sincerely,
Peter Chevalier
Director of Customer Service
I agree - if anyone launching a class action, count me in. I bid for a property won it. I suspected that at some point, I may be bidding against myself. Unlike Williams Auction where they have live webcast. After I won - I was sent a PA that detailed the property code violation. The property building permit was revoked there fore basically I just bought an illegal property. There must be some kind of disclosure law that prevent this kind of stuff from happening. Where is consumer protection when you need them? It is sad that in order to get anyone to do an honest business, someone has to bring on a lawsuit.
Here is the link to the Federal Trade Commission about Illegal and Un-Fair Trade Practices
http://www.federalreserve.gov/boarddocs/supmanual/cch/ftca.pdf
Deceptive Acts or Practices: An act or practice is deceptive where
* A representation, omission, or practice misleads or is likely to mislead the consumer
* A consumer’s interpretation of the representation, omission, or practice is considered reasonable under the circumstances; and
*The misleading representation, omission, or practice is material.
Hi Yudha,
I appreciate you reaching out with your concerns and am sorry your experience with our platform has been anything less than positive. At Auction.com, we provide a platform on which both sellers and buyers get true market value for their assets in a way that is more transparent, easier and faster than traditional methods. We make any disclosure documents provided to us by the seller available on our website for each asset listed. Like any real estate transaction, we strongly encourage all our buyers to do their due diligence on the property before they bid and fully understand the responsibilities and nuances of purchasing that asset. Please contact me or my Customer Service Supervisors Vicky Hernandez or Yamir Gonazles at [protected] so we can discuss the specifics of your situation in greater depth and work to come a resolution.
Sincerely,
Peter Chevalier
Director of Customer Service
Hi Peter,
I have evidence from emails that indicated that auction.com somehow allowed and facilitated that I bid againts myself. According to UCC § 2-328. Sale by Auction (4) "If the auctioneer knowingly receives a bid on the seller's behalf or the seller makes or procures such a bid, and notice has not been given that liberty for such bidding is reserved, the buyer may at the buyer's option avoid the sale or take the goods at the price of the last good faith bid prior to the completion of the sale. This subsection shall not apply to any bid at an auction required by law." I am allowed to avoid the sale or you must accept the bid at the price of the last good faith. I made a couple phone calls and your agents said that you have no record of the bid. I am sure that I will be able to work with a lawyer to subpoena the phone record.
Anyone else experiencing one sided contract and felt that auction.com is not playing fair, please post your info. Once I finalised all the data collection, we can possibly start a class action.
Dear Yudha,
I’m not sure who you spoke with, but I’d be happy to set up a call with you to get some more specific details about your experience and review the e-mails and work to find a resolution. Auction.com is not out of compliance with any legal rules and regulations. As with any real estate transaction, each situation is unique and we strongly encourage our platform users to review all contracts thoroughly and do their due diligence in advance of making any bidding or purchasing decisions. Please reach out to me or my Customer Service Supervisors Yamir Gonzalez or Vicky Hernandez at [protected].
Sincerely,
Peter Chevalier
Director of Customer Service
we won a bit last November...waiting and waiting...a long 9 month...e...we have an approval and signed the contract...made a lot of phone calls but cant get any info..every month we have to sign a some kind of paper for giving them more time to clean up a title...have no idea what to do...don't want them cancel my transection...we lost time ..money...I am in stress
Thank you for voicing your concerns, I always appreciate getting feedback from our users. I apologize you’ve encountered some frustrating setbacks on our platform. I’d like to set up a call with you to discuss the specifics of your situation and see what I can do to help make your experience on our platform a successful one. Please contact me or my Customer Service Supervisors Yamir Gonzalez or Vicky Hernandez at [protected].
We have been trying to purchase a short sale in CA since January of 2013. Now the company holding the mortgage has put it on Auction.com to see what the property value is. There is no mention on Auction.com or any of the advertising site (Zillow, Trulia, etc.) that this home is also a probate. If someone "wins" the auction, they are going to be angry to learn that they can be outbid in probate court by someone who did not pay auction.com 5%. Seems like incomplete disclosure to me.
Dear 1Pecheco,
Thank you for letting us know about that there is a probate property listed on our platform. We generally try to exclude probate properties from our platform and if we do list them, we disclose it as being a probate property. We’d like to update the details of the particular property you mentioned but our internal policy doesn’t allow us to discuss particulars in a public forum. Could you message us the particular property you mentioned to us via our Facebook page? (https://www.facebook.com/Auctioncom) If you’d prefer to call, please call our customer service line and ask for me (Peter), or my customer service managers, Yamir Gonzalez or Vicky Hernandez at [protected].
Thank you,
Peter Chevalier
Director of Customer Service
Just became a winning bidder on auction.com. The comments on this site really make me nervous. I already had a bad feeling after being pressured to sign the contract within 2 hours of winning. I'm also really concerned that they will not let me inspect the property, even though it is vacant. I'm beginning to think there is something wrong with this picture.
I agree.
I am very careful for the practice of Auction.com after research online.
California law about trustee's sale only permitted by trustees. Auction.com is not a trustee. So sale of trustee is illegal on Auction.com
There are a lot of legal procedures for trustee's sale. You can not simply put a property on auction online. I called Auction.com to question a status of property on auction.com.
Don't buy a property on Auction.com