US Home Auction

Their auctions are a complete farce! They blatantly lie. 90% of the auctioned properties are not sold. There is a secret 'reserve price', so the opening bid they advertise does not matter at all. The seller has the auctioneer bid on the sellers own property. The auctioneer is on it too. So if you are bidding, you are bidding against the seller. It's a no win situation. They advertise "every property must be sold". Complete lies.

Throw in the 5% fee and this is a complete ripoff.

The property I was bidding on had a $29k opening bid advertised, but the seller's secret Reserve Price was $200,000. What a scam! I bid $55k, the aauctioneer immediately bid $65k, representing the seller. He even points out to the crowd like the bid is coming from the crowd, but it's not. A ccomplete scam. Watch out.

Comment On This

I have bought 5 homes from this auctin. i have never had an issue with them. of course they raise the bids on some homes the bank does want to dump the property but not taking a huge hit against it. one of mine was valued @ $180K bout it for $90k two others valued around $120K bought one for $75K and the other for $90K. dont expect to by a $200K home for $75K thats more than likely not going to happen. however i have seen a home worth $1.3 million in my area sell at this auction for $600K so you never know.