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  • Report:  #536301

Complaint Review: REDC Auction

REDC Auction ARC Development Sham Auction, Internet

  • Reported By:
    Doug — Bronx New York United States of America
  • Submitted:
    Wed, December 09, 2009
  • Updated:
    Sat, August 28, 2010
*UPDATE Employee: REDC Scam

I had the highest bid in a REDC auction in Riverdale NY. After taking my deposit of approximately $80,000, they informed me that had 7 days to back out. Two weeks later, they said the seller had declined my "offer".


I am still waiting to get my money back.

1 Updates & Rebuttals

Auction.com Help

Irvine,
California,
USA

REDC Scam

#2UPDATE Employee

Wed, July 28, 2010

I am confident your earnest money was returned.  At the time of your report, perhaps it had not been due to the timing.    The money is held in a trust account that a third party company has access to- REDC does not.  I'd be happy to look up your file if you will send me your complete name and the property address that you were interested in so that I can verify this.  help@auction.com

There is a reason REDC has sold more than $6+ Billion of foreclosed properties since 2007.  Trust.

http://auction.com/REDC-Scam.php

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