ANYONE EVER USE ...... AUCTION.COM (checkout this deal plz)

[Nicholas Moffett]

If you have ever used auction.com please post up your horror / success story here ! 

And I would appreciate ANY feedback you guys can give me on this property I am looking to purchase.  Comps are all around 50-60 
*It is currently up for sale on auction.com 


1726 Tumbleweed Drive

Holiday FL

AE Flood Zone

Bidding starts at $15K - Runs 3/9 – 3/12 on auction.com

Debtor is currently occupying the property

[Michael Hicks]

Originally posted by @Jake Thomas:

@Nicholas Moffett 

They charge 5% or $2,500 whichever is greater. My property costs $15k so I was charged $2,500 on top and that is also the required escrow amount ($2,500). 

This is correct.  I have placed the highest bid (won the auction) before but of course it says subject to bank approval.  They called and asked for my highest and best which I told them I was sticking with my bid.  After a week and a half they called and informed me the bid was rejected.  The property has been back through the process about 6 times.  I gave what I felt like was a fair offer based on condition.  I went to one of their live auctions in Chattanooga and they started the bids out low but bid against you until the price was to their reserve...which was too high 95% of the time.  I believe there was one property sold of the 15 available on the particular day I went.