REDC is a Real-estate auction company out of California mainly used for Foreclosed properties throughout the US. All auctions have a reserve. You register, and have to put a deposit down using credit card before bidding on a property. If you are the highest bidder, and reserve isn't met or exceeded... They will call you after auctions ends and tell you won the piece of property, congratulations! If you question them that how can that be so if reserve isn't met. 90% of the time the bank takes the offer, they will tell you. They explain that an email will be sent to you with instructions within 24hrs. They send you a contract to sign electronically, and where to wire your earnest money. You have 24 hrs from the time you receive this email to return contract & earnest money or they tell you you will be charged punitive damages. Beware... READ THE TERMS AND CONDITIONS first!!! If the reserve is not met or exceeded you don not have to do what they tell you... First of all most banks don't take less then 80% of asking price. The seller has 15 business days to respond to the offer excluding holidays and weekends. They tell you they will contact you ASAP when they hear something. They do not. So your moneys will be tied up for at least 3 weeks. So if you see another piece of property, your locked in. They will pressure you and only remember the facts if reserve isn't met you don't have to sign contract or send earnest money. They always make you think that doesn't matter and you have won the property...That isn't so. This is only my experience with the above company, and what took place in regards to their tactics. Use your own judgement, but beware...