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Updated about 11 years ago,
Auction.com again!
So I think I get it now. Auction.com does nothing except put an offer into the sellers hands. Even if you win the bid and meet the reserve, all you have done is basically presented an offer. It's up to the seller to decide if they want to accept the bid even if it says you won. I also read that the seller can take the property off the market DURING BIDDING!.... Then they are also allowed to bid on the property for the seller. The reason they do that is to make sure that you are forced to bid at the price that guarantees Auction.com will make their 5% commission. I have seen the same home go on the MLS and back to auction.com several times and every time Windmere properties is the winner and the seller.
I'm trying to find one success story and it's been tough. Has anyone had any success with this company?