Auction.com acceptance process

5 Replies

How often do Banks refuse to ratify contracts after a successful auction.com bid?  

Bid was won this week, signed their paper and submitted  earnest money.  They gave me 24 hours, now they say the bank needs ~10 days to review my offer. 

I'll be frustrated if they reject my offer after I already agreed to their terms.  

Usually after they send you the contract, you're okay. of course assuming no title issues.

It aint over til its over I recently won an auction on Hubzu signed everything but if you read the disclaimer is that it is not a contract until the seller signs.They can still accept back up bids ,take higher offers or relist it 

Good feedback.  I'll keep my fingers crossed and report back when I get a response.  

Tkx

I'm still waiting for ratified contract.  Auction.com says they have up to 14 days. 

Went by the house today and found a sign stating that the place was found vacant and to call immediately if occupied.  I'm scared they will reject my offer if determined vacant.  

Hard not to bite the fingernails with these deals. 

I received acceptance today!  Now I just have to clear title insurance and figure out how to insure a house with no appraisal or inspection.  

So far I have to say auction.com has been professional and responsive. 

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