• Report: #1039487

Complaint Review: Auction.com

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  • Submitted: Sun, March 31, 2013
  • Updated: Mon, April 01, 2013

  • Reported By: Dave — Flagstaff Arizona
Auction.com
1 Mauchly Irvine, California United States of America

Auction.com Won auction, seller accepted, opened escrow, seller declined Irvine, California

*UPDATE Employee: Auction.com Policy

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Won the auction, wired earnest money, and opened escrow. After 3 attempts by Auction.com to get the right contract to me, I was told on  thursday 2/7, that buyer had accepted sale. Heard nothing on Friday 2/8.
Called Auction.com Monday 2/11 and was told that seller declined reason being it was an overcapped mortgage whatever that is. I talked to several people in the real estate and mortgage business they had no idea. One appraiser even told me he had just received a appraisal request from Nationwide for  the property.

The property was listed by the same realtor involved at the beginning with Nationwide on 3/26/13 approximately 1 1/2 months after it was pulled of the auction.It seems to me that this was all a ploy to come to some sort of asking price to remarket the property or some kind of insider trading.

Winning bid price-100000
Listing price-135000

This report was posted on Ripoff Report on 03/31/2013 12:44 PM and is a permanent record located here: http://www.ripoffreport.com/r/Auctioncom/Irvine-California-92618/Auctioncom-Won-auction-seller-accepted-opened-escrow-seller-declined-Irvine-Californ-1039487. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

Auction.com Policy

AUTHOR: Auction.com - ()

Hi Dave,

Thank you for your interest in Auction.com. In all cases, the seller is not Auction.com, but the owner of the asset. The seller reserves the right to pull an asset from auction at any time. I sincerely apologize for and
understand the frustration you've experienced.

Id like to further discuss your situation so we can come to a mutual resolution. If you could contact us
to provide additional information, such as the property address, we would be more than happy to research the issue you describe. Please contact me or my Customer Service Managers Yamir Gonzalez or Vicky Hernandez at 800-793-6107.

Sincerely,
Peter Chevalier
Director of Customer Service
"Read Auction.com Reviews Here"
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