Hudson & Marshall auctions REOs in Atlanta « HousingWire

North Texas auction house Hudson & Marshall hosted property sales for more than 250 real estate-owned homes in Atlanta over the weekend, 95% of which received bids.

Principal David Webb said that auctions are becoming a more viable way to purchase a home because of the amount and quality of the inventory hitting the market.

"The downturn in the housing market has made buyers more educated and savvy about the homebuying process," Webb said. "With the high levels of foreclosures flooding the market, consumers have realized that foreclosures don’t necessarily mean rundown property anymore. They can be purchased at a reduced price and in move-in ready condition."


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hudson and marshall
Posted: 2009-03-30 by w.h.d.
contract abuse
Complaint Rating:
Company information:
openings by wyn
Michigan
United States

they extend contracts to winning bidders after the stated period on contract, show favoritism to some buyers by extending these contracts without payment.
Comments United States Real Estate
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2009-07-01 by Frustrated Buyer2 0 Votes
I completely agree. Dealing with the unprofessional representatives from this "auction firm" has been the most frustrating experience I have had in making any major purchase. The terms stated on the Hudson and Marshal website completely contradict the terms and statements made by their representatives. For example. The property being auctioned states the auction ending July 14th however the date counter states it ending early August of the same year, 14 days later. The representative states that it is not an auction, they are actually a marketing and negotiation firm for the bank... There are some serious legal discrepancies in their format and Wells Fargo should be notified of these activities.
2009-12-01 by hudson and marshall are crooks 0 Votes
My experience with this company seems to be consistent with the comments. They are auctioning a property in Ohio as an "online auction." The kicker is, the picture provided by Hudson and Marshall.com is a completely different home. Of course the real home is in much worse condition than the one pictured. I notified them of the error and they did nothing to change it. I personally was one of the bidders and now Im quite upset that this joke of a company is just raising the bids with errant information. Next stop, the Attorney General!
306 days ago by sick of crooks 0 Votes
yeah winning bidder my butt we bid at auction and mysteriously had a single competitive bidder run us up to the max on our lsr..then after filling out contract waisting about 5 hrs with this "bidding" process we got to find out they declined our bid with no counter...the "negotiator" told me he felt i should offer another "5 or ten thousand" i think it is a sham and boy they need some real people negotiating if that is negotiation!! i also would like to see them produce a list of accepted offers to compare to the "auction " itself and see if they really award anything at auction price.
212 days ago by bobwinners 0 Votes
A number of these "Auction" companies are really just trying to drum up interest in properties that have languished on the market for too long. They accept 'bids' which are really just offers to purchase. You can be sure of this by the actually contract you are asked to sign. In almost all cases, the 'highest bid' is actually just the highest offer and can be rejected by the lending institution holding the mortgage.
They can end up holding your 'earnest' money for 14 days or longer before notifying you that your 'offer' has been rejected.

Unless an Auction is listed as "Absolute", it is likely that you are being asked to make an offer. You could do the same thing through the real estate company that holds the listing, though properties are often removed from the local MLS in the weeks before the auction occurs.

For more information: http://www.realtor.org/auction/auctions/types
192 days ago by lexus42 0 Votes
We went to the auction and we had a lone bidder against us. My husband stopped bidding. We were out bidding our offer on the home through our realtor. We had a offer on the home prior to auction. they went to auction anyway to see if they can get more money for the home. after the auction, few days later we recieved a call stating. The auction winner fell through and what is your best offer on this home. My husband said the original offer, let it ride. It was accepted. My problem is.. After all is said and done and excited about getting this home. Why did I have to pay the auction house fees for the home. I am thinking about getting an attorney to look into this. We were unaware of this, signed for the house but kept questioning this...
125 days ago by GA Realtor 0 Votes
They came back to you because they were hired to take over the listing however your previous agent should have gone back to the previous listing agent and objected, legally thye are owed the RE commission, they auction company was just trying to involve them selves with you to justify their commission. Not Fair they should be sued for forcing you to pay when you were prior to their involvement, a jury will side with you, take it to court. The seller should have to pay them if they earned any commission, you didnt hire them as your buyer agent the seller was who hired them and you should not have to pay more.
125 days ago by GA Realtor 0 Votes
Also check to see if they are liscensed in your state, if it is not an auction and they are accepting offers with thier sign as the real estate agent maybe they not legally selling in your state. Most states require you have a liscence within that state to sell, and to be selling under a broker with the same state. Very few states allow you as an agent to sell ricipically only in adjoining states, has anyone looked into the validity of them even selling in all these locations? Have they gone to every state and got a liscence, and then are they selling under a broker within that state, , , something is very fishy here.
69 days ago by Lee Frye 0 Votes
Thanks guys! I've read all the complaints and I think i'm going to go into anothe direction. I have other friends that were interested but after they hear these complaints, I'm sure they will follow.