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Updated about 9 years ago on . Most recent reply

Account Closed
  • Investor
  • Philadelphia, PA
0
Votes |
17
Posts

auction dot com HOA feel and need some urgent help

Account Closed
  • Investor
  • Philadelphia, PA
Posted

If someone bids on a property at auction dot com, wins it (Reserve met) , gets cold feet, and backs-out (they have 24 hr period in which buyer needs to send out earnest money/ proof of funds and and close it within 30 days) .. This was user's first ever time on action dot com bidding. So far, Back-out is approved by action dot com (contract person forwarded request to supervison and sent following email.).... They have also removed hold from my Credit card... Is buyer off the hook at that point ? Or Action dot com and/or seller can come back with law suit or judgement ? The property has been listed now again on auction dot com

Also, Who's responsible for HOA fees if buyer purchase the prop ?

Email from action dot com---

"I want you to relax and know that this email serves as confirmation that you have cancelled the purchase transaction for the above reference property. You are no longer financially responsible for this transaction."

Most Popular Reply

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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,509
Votes |
23,418
Posts
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

It's over, they are not coming after you.  At the very worst, they could have kept your $2500 credit card charge, but that's it.  Please let it go.

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