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Updated about 5 years ago, 09/13/2019
Hudson and Marshall auctions
Beware, buying off of Hudson and Marshall. I bid on a property (October 12, 2018) and was high bidder. It show reserve was meet. I got the call that I was the winning bidder got the email stating Congratulation, the seller has approved your offer!
2 days later get a call and now not going to sell it to me. I think it is fraud to call you and to send you tell you got the property and then call you back after spending money with title search and get all your paperwork together. Beware of them!!
Les
Said, they pull it. But the email they sent me told me, Congratulations, the seller has approved your offer!
Wandering how many more they do like this. Maybe it is to get more people running through their website.
@Les Lazarus This has nothing to do with H&M and everything to do with the sale being legally cancelled. Whether it was a BK filing, a payment bringing the loan current, or a sale... it doesn’t matter if the website said you were the high bidder and your bid exceeded the reserve because the property was no longer available. The "auctioneer" could not sell it.
This happens all the time with courthouse auctions... after the fact. High bidder finds out the deal is dead, deposit gets refunded, everybody moves on.
- Tom Gimer
No this is different than a courthouse sale. H&M should get permission to sell the properties they put up for auctions. Not only that I receive an email from H&M telling me that the the seller has approved my offer. This was not a foreclosure sale, there was not any recording at register deed office of anything against the TD. I go to lots of foreclosure sales and very active in courthouse sales and they do get some rescinded due to bankruptcy or property owner paying up the last minute. They are putting properties on their site to funnel people to their site. If this was a topical foreclosure sale it would had been publish in a local paper and also recorded at register deed office in that county. So since it was not a foreclosure sale they should had got perrisom to do the sale ahead of time.
@Les Lazarus H&M handles both REO auctions and foreclosures. To me "they pulled it" means the foreclosure sale was cancelled.
If that is not the case, hire an attorney and enforce the terms of the sale.
- Tom Gimer
NO this was not a foreclosure sale like I said in order to do a foreclosure sale you must run an add in the local paper for 3 weeks and record what deed you are foreclosing on there was nothing recorded with or against this Deed of Trust!
I buy many many foreclosures weekly so I know when there is a foreclosure sale and when there is not and this was not a foreclosure sale now what kind of sale this was I don't know and that my friend is the question!!
@Les Lazarus That's not entirely accurate. But the only way you're going to get any real help here is to post a link to the sale or the property.
- Tom Gimer
Originally posted by @Tom Gimer:
@Les Lazarus H&M handles both REO auctions and foreclosures. To me "they pulled it" means the foreclosure sale was cancelled.
If that is not the case, hire an attorney and enforce the terms of the sale.
Tom, why wouldn't the auction know in a timely manner that the property they have up for sale is no longer available? I'm wondering why they wouldn't pull it immediately so that someone doesn't end up in this situation?