Complaint Review: Decaro Luxury Auction - Easton Maryland
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- Author Confirmed
- Decaro Luxury Auction Easton, Maryland USA
- Phone: 8003323767
- Web: decaroauctions.com
- Category: Real Estate Services
Decaro Luxury Auction Caution when selling your home via Auction! Easton Maryland
*Author of original report: Misleading and Inaccurate
*REBUTTAL Owner of company: The Truth of the Matter
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DeCaro Luxury Auction presented itself as a knowledgeable and capable partner in selling my second home via auction.
They assured us that they understand the marketplace and home values, and have a system that is successful 95% of the time; admittedly an incredible track record.
After requiring us to send them $50,000 for the marketing of our property, the service, attention and overall knowledge was poor and lacking.
We later learned that such a large amount of money would never be required for a home of our size, and that often the Auction company themselves pay for the marketing.
They would still, upon any sale, earn a 10% fee to sell the home, paid by the buyer, when sold at auction.
They clearly had no knowledge of the marketplace nor home values as they were not even able to secure enough people to attend an auction and could not even secure but one lowball offer only many weeks later.
The communication through the process was virtually non-existent unless initiated by us; it was challenging every step of the way.
Upon receipt of the offer after the failed auction, they explained to us that we would now be responsible for the 10% fee to them (and not the buyer) in addition to the $50,000 we have already spent on the marketing for the property. This amounts to a nearly 17% commission to be paid to them upon the sale of the property!
This is excessive to say the least.
I have been taken advantage of by both the excessive marketing fee, inept service and knowledge, poor customer service, and excessive and unethical commissions to be paid post-auction upon a traditional sale.
Others should be aware of the details and process and expenses associated with this process, and most importantly, with this company.
This report was posted on Ripoff Report on 12/07/2015 12:38 PM and is a permanent record located here: https://www.ripoffreport.com/reports/decaro-luxury-auction/easton-maryland/decaro-luxury-auction-caution-when-selling-your-home-via-auction-easton-maryland-1272577. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#2 Author of original report
Misleading and Inaccurate
AUTHOR: - ()
SUBMITTED: Wednesday, December 14, 2016
It is certainly surprising that "experts with nearly 40 years experience" would be able to be coerced by the owners/investors, who despite DeCaro's claims below were not two attorneys.All property history was clearly disclosed when we retained DeCaro. They assured us an auction was the best way to go to sell the property, even with the property history. They even informed us that they knew the property and local market well, as a member of their team grew up on this small coastal island with a population of under 800 people.It is correct that they advised us to cancel the auction - three minutes before the scheduled auction time. This was only after they failed to secure enough verified buyers to attend. At no time during the process did they give us any indication that we would not be able to have a successful auction. In fact, the day prior, they felt confident that they would be able to secure a 7 figure sale price, at or above the appraised value. One would think with 40 years experience, they would have known they were not receiving enough traction and interest for the property to not have been surprised when they were unable to bring even one interested and verified buyer to attend our auction.Despite their response, which took more than a year, there is little truth in DeCaro's rebuttal and one should be hesitant and cautious before retaining them.
#1 REBUTTAL Owner of company
The Truth of the Matter
AUTHOR: Daniel DeCaro - (USA)
SUBMITTED: Sunday, November 27, 2016
This review was written by two Baltimore real estate attorneys that owned this rental property and attempted to coerce our company into accepting a lower commission on an above-market-value offer we acquired for their investment property. These owners/investors wanted us to take a loss on money spent marketing their property in addition to the lower than agreed upon commission. They failed to disclose the damage ​​history of the property that occurred years earlier. Upon our full knowledge of the situation, we advised them to cancel the auction and entertain one of three offers obtained on their behalf during our listing period. As legal professionals, they knew full well the parameters of a legal listing agreement/ contract, and how it governs everyone’s actions. Our nearly 40 years of success with no legal ramifications speaks for itself. Our rebuttal is to ensure that anyone reading this report understands there is a lot more to the story.
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