Ten-X

[redacted]
 
It was a pleasure speaking with you over the phone.  I'm very sorry to hear that this experience has resulted in your decision to cancel, but I understand the reasons behind this.  As a company we will work to improve our communication to our customers to...

provide a better buying experience.   
As discussed over the phone, we will issue your cancellation after receiving your written request, and the escrow deposit of $500 will be returned to you.
 
Thank you for your business with Auction.com

Mr. [redacted]
Thank you for the opportunity to respond to the  complaint filed by Ms. [redacted] and Mr. [redacted] regarding Auction.com (the “Company”).  The Company serves as an online...

auctioneer of residential REO properties.  REO is a term used to classify real estate property owned by a financial institution but which is not directly related to its business and is the result of a foreclosure sale.  The Company serves as an online platform for these institutional sellers to market and sell their REO assets.  The bank or lender, or their local listing agent, provides all property-related information for the transaction.  All auctions for the REO program are online auctions in which bidders place bids online.   Due to the fact that each asset on the platform is unique and at different stages of the foreclosure lifecycle, it is strongly recommended that all bidders conduct their due diligence to ensure they are fully informed on the type of asset they are bidding on. As stated in the Auction Participation Terms located at: https://www.ten-x.com/company/legal/participation-terms/, The Company may remove any property from an event or reject any or all offers.  The reason for the removal  could be several reasons, such as but not limited to: the seller removed the property from the auction, legal action was taken to cancel the foreclosure, or the defaulting owner redeemed their property prior to the expiration of the redemption period.  It is at the discretion of the seller, not the Company,  to remove or sell a particular asset.

Hello [redacted],
 
We are in direct communication with the seller to see if they will be allowed to continue with the purchase.  It will depend on the extent of the fire damage.  If the fire damage is not major, and still qualifies under HUD, then they will continue with...

the purchase.  However, if the fire damage is major, HUD will not allow the seller to continue with the sell.  As soon as I hear back from the seller, I will let you know. 
Thank you for your patience while we work diligently to make this sell happen for you.

They use a closing co that is out of state. This company over charges and lies to your face.
Further they use shilling techniques to drive up bid.
Even if you win bid they will not always honor the contract.
Further the contract they use is a one way contract.

Mr. [redacted].  Per your conversation with Auction.com’s Compliance Manager, the company’s request for a W-9 was an error in this situation.  We have retracted that request and reimbursed you for the wire charge of $40 that you incurred.

Ms. [redacted],
My name is [redacted] and I am in charge of Customer Service for Auction.com. I can personally assure you that the intent of all auctions conducted by Auction.com is to provide an auction format to facilitate the sale of the properties listed on Auction.com. I am happy to...

speak to your concern directly.
As in the traditional auction format and other popular online auction formats, all properties on the Auction.com platform have a reserve, or minimum price, for which the property will sell. The reserve is set by the Seller as disclosed in the Terms & Conditions (HTTP://CDN.MLHDOCS.COM/DOCUMENTS/GLOBALTERMSCONDITIONS/TERMSANDCONDITIONS_64809...⇄ ,Section 3: Bidding & Buying).  During the auction, Auction.com does indicate if the reserve on a property has been met. This information is displayed in all locations where a bid can be placed using the verbiage “Reserve Met” or “Reserve Not Met.”
In your specific example, you were the high bidder on the property with $100, but your bid of $100 was below the property’s set reserve.  As such, at the auction’s end there was no winning bidder (as a winning bid must exceed the reserve).  No confirmation email was sent to you because the auction had not achieved a winning bid.
If you would like to discuss any aspect of your experience with Auction.com in further detail, please do not hesitate to contact me at 949-672-3640. I am available Monday-Friday from 8AM-5PM PST.
Sincerely,
[redacted]

[redacted],After reviewing your file, I noticed that your assigned closing specialist has received your requests and has submitted them to the seller for approval.  Your file shows daily communication between you, the seller, and your closing specialist.  Unfortunately, we can only submit your requests to the seller, but the seller ultimately has to approve them.  Your file is scheduled tomorrow per the seller's terms, which is under 30 days.  Your original concern was for this file to close quickly, and this file is scheduled to close within our 30 day target for a cash transaction.  Thank you for your business with [redacted]

Closing department agents were rude and provided no service other than telling me to check my email and my junk email for updates. Over a month after auction close(25 February) and I received a signed contract(on 28 March) from the seller with a 20 March date....only after elevating complaint to the closing department supervisors.
$7500 in escrow for over a month and I still have no closing date.

Thank you [redacted],
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Here is our response after looking into the complaint, please let me know if anything else is needed as well. Thank you for your help, I really appreciate it.
 
 
 
Mr. [redacted]-
 
I’m very sorry to hear about your experience with auction.com.  I did review the last transaction that you had and I understand your frustration, as it is a frustration that we at auction.com are dealing with.  Our goal is to provide you the best experience possible and to ensure that we are working to provide you a service, as well we are in the business of selling properties.  Unfortunately the seller of all the assets will get information in late in the process, which then gets relayed to us.  If we get that information, as it sounds we have in your case, we try to refund your funds on site so that they don’t get tied up with the bank.  Sometimes the banks will take some time to reissue checks and have them mailed out to you.  The seller of these asset has every intention of selling that asset and both they and Auction.com want to make sure that we sell it to you, and that the transaction will go through without any problems.
 
The sellers returning funds is not a usual practice, but last month we did see a large influx with weather situations in [redacted] and a lot of banks pulled back to validate the homes condition.  We hope that this doesn’t preset this month and indications are that it will not. 
 
I hope that we can work together and find and sell properties to you at our auctions.  If you have any further questions please don’t hesitate to give me a call.  I will be at the Houston auction this month as well if you would like to talk in person.
 
Thank you,
 
Customer Service Team
Auction.com
[redacted]