Wavee.com Review – Is Wavee.com a Scam?

 

Auction.com Reviews – Is Auction.com a Scam?   

The Auction.com reviews show that this is another auction site that is dedicated to real estate auctions. After registration you can place bids online or at live auctions in person. The online auctions are billed as Flash auctions and seem to be a bit rare, the majority of the auctions are held live in real time and in person. While there are some deals to be had with this site, it seems to lack some of the big ticket items that you can find at a site like Auction Resource.

 

Publisher’s Description

 

Since its founding in 1990, Auction.com has become one of the world's leaders in maximized asset disposition strategies and asset management. Specializing in selling residential, commercial, luxury homes, multi-family and hospitality properties, land, as well as performing and non-performing notes and loan pools, Auction.com has sold more than $7 Billion of real estate assets for our clients, including over $3.4 Billion and 32,800 homes in 2008 alone-an industry record! Working directly with builders, developers and lenders, Auction.com conducts auctions throughout the United States and abroad, which range from live ballroom mega-auctions to local on-site auctions, as well as online only auctions through the use of our proprietary and best in class online auction platform. Auction.com has conducted over 730 auctions for our clients since 2007, including over 320 auctions in 2009.

 


Editor’s Review

 

The Auction.com reviews show that this auction site bills itself as the “global leader in real estate auctions” this is a pretty broad statement. The landing page informed me that there is “20 years of expertise”, I was not really sure who or what expertise was being referred to.

I decided to try the chat feature so I could get some of my questions answered because there was just too much information to filter through on the FAQ page. No one answered! I attempted a few times through out the day to get a response but I couldn’t so that was a bit of a black mark.

Registration

The registration is free so I guess there is nothing to lose if you decide that this site just isn’t for you. I decided that without having to register, I am not in the market for buying property sight unseen in another state, and if I want to attend a local foreclosure auction all I have to do is visit my county court house and take a look at the notices posted in the hallway.

Fees

Registration is free but  there is a 5% buyers premium assessed to any winning bid. This is a bit high considering that you are bidding on real estate that can run into the hundred thousands of dollars.

Process 

At some during the process you will have to provide bank statements to show that you have enough potential cash to cover the cost of the property that you are bidding on.  I guess this is an appropriate measure.

What Are Other People Saying?

I looked around for any reviews and could only find one at Top Ten Reviews  and this is what the reviewer had to say  “Auction.com has the right idea for a good online auction, but fails to execute. The site is missing quite a bit of user-friendly features and doesn’t offer any unique advantages for buyers or sellers.”.  I did not find the same. I found the site to be user friendly but simply did not jive with the basic idea of the site. 

Bottom Line

I got the feeling right from the start that this was simply a site that would provide me with information that I could easily get myself.  The reality is if you are in the market for purchasing  property and you can afford the $1000 deposit  that is returned if you do not win you might be able to find something that is worth while.  The site was easy to navigate, but the pickings were a bit slim and I could not find anything at all listed for my area!  I guess it is hit or miss if you are going to find anything in your area.

Overall, the Auction.com reviews show that this is a viable site and is not a scam although it does lack some of the big ticket items that you can find at a site like Auction Resource.

 

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