This is a wannabe auctioneer with no clue about the auction method of selling. Looks like a realtor scam to try to get sellers to commit to another list and continuously reduce method of selling trying to make it look like an auction when it is nothing more than a contingent sale with multiple offers. It will not take long for them to be found out for what they are. How apropos their website name and the connotations of the mob - criminal, extortion, etc. Sellers will figure them out soon.
@estateauctions this is called a Round Robin Auction you dumbass. The winning bidder did get a fully executed contract with the seller. Because it was for less than what was owed on the mortgage, it did have to be approved by the lender. This will all fully disclosed prior to anyone bidding.
This is NOT an AUCTION! It is a contingent sale with multiple offers. The hammer NEVER fell & this property was NOT struck off as SOLD! She even says about taking offers to the bank for approval. A legitimate Auction does NOT have contingencies. The auctioneer calls for bids with the price increasing and when the auctioneer declares SOLD the contract is consummated, it is a done deal. This is an example of a realtor wanting to disguise a private treaty sale calling it an auction when it is not.
This is a wannabe auctioneer with no clue about the auction method of selling. Looks like a realtor scam to try to get sellers to commit to another list and continuously reduce method of selling trying to make it look like an auction when it is nothing more than a contingent sale with multiple offers. It will not take long for them to be found out for what they are. How apropos their website name and the connotations of the mob - criminal, extortion, etc. Sellers will figure them out soon.
estateauctions 1 month ago
@estateauctions this is called a Round Robin Auction you dumbass. The winning bidder did get a fully executed contract with the seller. Because it was for less than what was owed on the mortgage, it did have to be approved by the lender. This will all fully disclosed prior to anyone bidding.
propertymob 1 month ago
This is NOT an AUCTION! It is a contingent sale with multiple offers. The hammer NEVER fell & this property was NOT struck off as SOLD! She even says about taking offers to the bank for approval. A legitimate Auction does NOT have contingencies. The auctioneer calls for bids with the price increasing and when the auctioneer declares SOLD the contract is consummated, it is a done deal. This is an example of a realtor wanting to disguise a private treaty sale calling it an auction when it is not.
EstateAuctioneer 1 month ago