Report: #536301

Complaint Review: REDC Auction

  • Submitted: Wed, December 09, 2009
  • Updated: Sat, August 28, 2010
  • Reported By: Doug — Bronx New York United States of America
  • REDC Auction

    United States of America

REDC Auction ARC Development Sham Auction, Internet

*UPDATE Employee: REDC Scam

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I had the highest bid in a REDC auction in Riverdale NY. After taking my deposit of approximately $80,000, they informed me that had 7 days to back out. Two weeks later, they said the seller had declined my "offer".

I am still waiting to get my money back.

This report was posted on Ripoff Report on 12/09/2009 12:12 AM and is a permanent record located here: 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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#1 UPDATE Employee


AUTHOR: Help - (USA)

I am confident your earnest money was returned.  At the time of your report, perhaps it had not been due to the timing.    The money is held in a trust account that a third party company has access to- REDC does not.  I'd be happy to look up your file if you will send me your complete name and the property address that you were interested in so that I can verify this.

There is a reason REDC has sold more than $6+ Billion of foreclosed properties since 2007.  Trust.
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