Auction.com Reviews – Is Auction.com A Legit Website or a Scam?

Auction.com Reviews – Is Auction.com A Legit Website or a Scam?

Auction.com is a real estate auction site. There are not a lot of auctions that are held online for property because there are so many potential issues with buying real property through an auction that a lot of sites shy away from these type of transactions. While there appears to be deals to be had at this site, most people still prefer buying property from a source like Auctionresource.org so you may want to check them out also.


About Auction.com

Before you make any decisions about bidding on real property online be sure that you are going in with your eyes wide open. Winning an auction online for real property is a legally binding contract so do not bid on what you can not close the deal on or you risk losing your deposit.


Auction.com Reviews - Deposit

It stands to reason that when you are bidding on real estate a deposit will be required to weed the serious bidders our from the people that just want to take a shot at winning. You will have to make a deposit of at least $2500 which will be returned if you do not win.

If you do win your deposit will go toward the purchase price of the property.


Auction.com Reviews - Know the Rules

There are very complex rules that you should completely understand before you get started. Read everything. A lot of times we have picked up bad habits and do not actually read the terms of service we just check the box and move forward.

In this case you have to absolutely read the terms of service and the user policies.  It is for your own protection that you understand the terms of service and your legal commitments.


Register Then Watch

Take a back seat to the action for awhile and you will do better on this site. Take a look at how the auctions play out. Register than watch don't jump right in. You will do better to watch how other auctions are going.


The Property

The property on this site is all sold as is where is. This means there is no warranty. In most cases you can not enter the property you can do a drive by and see the outside but there is no viewing time. Keeping that in mind should give you an idea about the state of the property.

Many of the auctions that are listed are not held online especially the foreclosures and the tax lien properties. The majority of these types of properties are held in real time at a specified location.


Is It Worth It?

Asking whether what this site offers is enough to warrant the time to browse or register is a loaded type of question. It could work for an investor but for the average person looking to buy a home the answer  may be no. While you may find some worthwhile properties it is a crap shoot and gambling with  that kind of money could be tough for some people.

Click Here for the Top Rated Real Estate Auction Websites

Overall, the Auction.com reviews show this to be a legit site and not a scam, however most people still prefer using a service like Auctionresource.org for finding good deals on real estate.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

auction.com reviews