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Review 11/13/2010
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Bid $28,500 on a home 11/10/2010 and received an e-mail back I was outbid. I received a call on 11/14/2010 telling me I was the winning bidder at $28,500. A few weeks ago I was also the winning bidder for another property and signed close to 30 pages in contracts and wired them $13,500. My realtor got a call a few days later stating they would not sell at that price. It was listed with FNMA for around $34,000. The above property is listed on their website currently for $58,900 and I bid $28,500 through realty bid a few weeks ago and was told the reserve was over $50,000. Looks like auction.com wants to sign you up, have you wire money, and then tell you the reserve was not met--this was in my case. This does not seem to follow the golden rule, treat others as you would like to be treated!
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