Auction.com most common scams
Please help
I need an attorney to fight this.
I am a buyer on a shortsale property that was transfered from BOA to NationStar/Auction.com.
I was told by Auction.com that since I wrote an offer on this property I should wait until Auction is finalized.
Once they know the final bid they will offer it to me and if I was not interested they will sell it to the bidder.
Yeasteday the property gone through online auction with auction.com and I watched it and the final bid was 200K
My offer was 180K
I contacted Auction.com to let them know that I will buy the property with 200K price and the customer service told me that I lost my chance of purchasing this property since I did not bid on it. I was tols to wait and now I am told I should have bid on it.
The shortsale department is closed today.
Replies to This Discussion
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Permalink Reply by Smitty on
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I don't like this one bit. NOR do I understand how a homeowner who STILL owns a property and has a contract with a buyer can be forced to used auction.com - Can someone PLEASE explain this? It's this tortious interference? This buyer has a HUGE lawsuit from what I can see. This is pure tort.
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Brian, although I understand your argument, most traditional short sales have a buyer, seller and contract, which is submitted to the bank. In that situation if another buyer comes along and tries to force their offer forward they can be sued for interference. It's not to say that the lender can't look at other offers, but the first offer has to be off the table for the lender to look at the next.
It's my understanding that auction.com gathers a ton of offers even though one has already been executed.
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