Altisource Ocwen,Altisource,REO Homes,Altisource Homes, GoHoming Foreclosure Premium Title Breech of Contract, Fraud bidding process, Wants to get all your earnest deposit money Internet, Atlanta, Internet
Beware: the above mentioned are all the same place. I was looking for a house in Modesto, California. And saw this house that I like. It required me to put my offer online, so I went to gohome.com. I found out that it was a bidding process. When I entered a price, it automatically increased another $1000. After several try, I was out bidded. However, next day I got an email stating that the house was back on the market and I could make an offer on the same site (I'm a little anxious). So I made an offer for lower than the asking price on MLS. It came back said there was another offer higher than me (same as asking). So I give it another try and add $100. My offer is accepted. I suspected the bidding bidding process is a fraud. But I was happy to get the house.
I was given a offer contract (not the standard CAR form) and signed without thinking too much. I send in my deposit and signed all the forms.
One week before closing, title company informed me that there is a problem with title, so they are working on it. And would give let me know asap. I contacted Premium Title but didn't get a clear picture as what is wrong. When the closing day arrived, there is still no resolution to the problem. Seller extended the contract but still could not resolve the issue by the extended closing day.
During this period, the property got vandalized. All the appliances, fixtures are either removed or damaged. After I contacted the Seller, instead of trying to remedy the situation, Seller's response was this is "AS IS" sales, and anything inside are "Personal Properties". And even asked me to report to police!!
I put in 'Cancellation of Contract' and demanded my deposit back. Seller sent me a 'Cancellation of Contract 'stating buyer refuse to close' and wants to retain all my deposit.
Lesson learnt from this is that I signed the contract without paying too much detail. The Purchase and Sales contract (not the standard CAR) from the Seller is ONE sided. Anything Seller cannot perform, it is not Seller's fault.
I will go on and fight for my deposit!! This type of business is consumer's nightmare!