Auction Review

Thursday, March 27th

2025 Foreclosure Listing Service Reviews

Auction

• No cost to use the website
• Largest auction-based selection of foreclosure and bank-owned properties
• Over 13,000 properties listed at any given time
• Properties offered in all 50 states
• Over 510,000 properties sold, at a value of more than $62 billion
• "A” rated by the BBB
• In business since 2007

When you spot auction-based foreclosures online, chances are good that they're actually hosted on the Auction platform. In operation since 2007, this listing service is hired by banks and foreclosure firms to market distressed properties. Auction covers all 50 states and has sold over half a million properties, to the tune of $62 billion in sales. You'll find over 13,000 foreclosure listings at any given time here.

Auctions only, of course

Because Auction's foreclosure properties are all, well, auctions, you will naturally find fewer options than you'll see on listing platforms with a wider range of property types. But, that doesn't mean you'll be left with nothing. In our target area of Nashville, there were 11 foreclosure listings at the time of our review, and in Phoenix, we found nearly 200. The site defaults to "nearby results within 50 miles”, but you can toggle that to the distance that meets your investment goals or home-buying interests.

Pay attention to all of the details

There's a ton of at-a-glance information when you're browsing listings here. The property addresses are fully disclosed from the get-go, along with the number of beds/baths, square footage, opening bid and estimated resale value (if available), whether it's bank-owned or a traditional foreclosure, and the dates of the auction. We particularly like that it displays whether it's an in-person or an online auction, so that non-local buyers don't waste time getting excited about properties that would require a trip just to bid.

Getting possession of the property is on you

Once you've found foreclosure listings that interest you, you'll get even more detailed info when you click. Auction is really upfront with specifics like buyer's premiums, whether or not a sale is cash only, whether or not bidders will have interior access prior to the auction, and so on. You'll also know if you'll have to register with Auction (no cost) or go to a governmental website in order to bid on the foreclosed property. One heads-up that's really appreciated is that Auction lets you know if the residence is currently occupied, and adds this important bit of info: "the buyer will be responsible for obtaining possession after closing.” Not many foreclosure listing sites spell it out that you could need to pursue eviction through the legal system in order to secure the property you're bidding on.

Responsive to complaints

The Better Business Bureau gives Auction an "A” rating for appropriate responses to the 30+ complaints filed with the BBB in the last three years. Most of the gripes come from either homeowners who were angry that their pre-foreclosure or foreclosure properties were shown in a database like this one, or from investors/buyers who had snags in their purchase process. We were glad to see meticulous, timely, and professional responses from Auction's representatives, usually with the explanation that such purchases are caveat emptor and the listings come from the foreclosure firms and banks that hire Auction to market the properties.

Huge drop in reputation

However, the feedback we've found in other places has resulted in a huge drop in our ranking of Auction. First, we found multiple instances of buyers being outbid…by Auction itself. The platform states at the bottom of the site that Auction can counter bid on behalf of the seller until the reserve is met. Next, there were more than a few complaints about issues that weren't disclosed that should have been, even using older (and better) photos to cover up the current condition of the home. Investors describe homes that wound up requiring tens of thousands of dollars (or more) in repairs for water damage, biohazards (like human waste), or from the home's previous use as a "meth and fentanyl lab” (their words, not ours). Finally, many people point out that the opening bid is just to get you interested; it's the undisclosed reserve price that really matters, and it's almost always significantly higher than the initial bid amount.

Too risky to earn our recommendation

We really wanted to like Auction. It's got a long history, lots of foreclosure listings, and is often the source of auction-based properties you'll see on competitor sites on our list. However, despite a good grade from the BBB, Auction's overall reputation leaves us concerned at best. We definitely don't recommend this platform to anyone trying to buy a home for themselves, and even seasoned investors may face some challenges in getting the information they need to make an informed decision here.