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Property Auction Scams - If you think you've been conned please read this!
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A few punters on Homes Under The Hammer claim they never viewed the property they purchased.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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If the auctioneer was really colluding with the buyer then that would be a clear scam.I fail to see how you were 'scammed'.
Imaging if your estate agent did not pass on any offers that had been made on your house, and then used the lack of offers to persuade you to drop the price, and used a shill buyer with whom he had a partnership to buy the property from you on the EA's behalf. This would be blatantly illegal.poppy100 -
oh absolutely poppy - but nothing in the OP shows that they were colluding, and as it was an open auction anyone with an interest could have bid against the person who won the property - no one else was interested.0
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ive always been told something is only worth what somebody is willing to pay, yes maybe thay didnt act as honest as youd like, but to them its just buisness. but nobody else was bidding so if they hadnt bought it nobody would of and you would still be stuck with it
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