Dear M&D.

Thank you for your concerns. All winning bids are subject to the seller’s approval, which they have up to 15 business days to review. Before the seller will review the offer, the Earnest Money Deposit needs to be submitted into escrow. In all cases, the seller is not Auction.com, but the actual financial institution that holds the loan and has foreclosed on the asset. Once the auction ends, the highest bid is submitted to the seller for review, if the winning bid is not accepted by the seller, the asset may go up for auction again, but we do not have access to the reserve amount, as the seller decides both the opening bid and the reserve amount. Auction.com is open 7 days a week, but it is possible that the Escrow Company was closed for an unknown reason when you contacted them regarding the refund of your Earnest Money Deposit.

If I may be of further assistance, please do not hesitate to contact me at [email protected].

Sincerely,
Peter Chevalier

Because a seller chose another qualified buyer there are many reason why they or any Real Estate office will choose one buyer over anotherr - it is the sellers choice not auction.com