REDC (Real Estate Disposition Corporation) had huge country-wide real estate auctions
in early 2008. I am one of the victim and had been misled by their on-line informations
“Agent Visual Inspection Disclosure”. From the disclosure, it should be a very nice
house. I was so shocked when I went to see the house that I won. It’s a 7 years old, 2700 SqFt house, in fact, it’s like an incomplete house, there was no floor covering, no wall (baseboard) in living room and family room etc. The garage door was damaged and open. That’s why I was able to enter the house. But the “Agent Visual Inspection Disclosure” didn’t mentioned anything of these problems. I talked to REDC, they said they knew the
problem, but they don’t want to fix anything. So, I cancelled the deal, and couldn’t get my deposit 3% of house price back. It’s a big fraud. What is the purpose of “Agent Visual Inspection Disclosure”? Is it allowed to have this kind of huge discrepancy? If they don’t put the disclosure on the internet, I believe I won’t be misled to bid that house. I took many pictures of that horrible house as all evidences and also kept all the emails with REDC. I
think Caifornia Real Estate Board should do something on this kind of fraud. Please don’t be fooled by www.ushouseauction.com