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Realtytrac Complaint - Fraudulent claims - Real Estate Search

Real Estate Search - Complaint
Review by seriousbuyer on 2010-01-12
IRVINE, CALIFORNIA -- I recently signed up on realtytrac and my credit card is being charged monthly. My wife and I are expecting a child April 7, 2010 and we expected to use Realtytrac.com for the very purpose of finding that perfect home. Realtytrac claims to have all updated pre-foreclosures, shortsales, and bank owned properties at your fingertips. To the contrary! 90% of all properties on Realtytrac.com are outdated by 3-8 months. Those great bankowned foreclosure deals you think you will get have been sold 8 months ago. This is the most agregious example of fraudulent advertising on the web. I don't know how Realtytrac is still operating. I've called and cannot even get an educated response to my questions. I've been hung up on three times. Attorney is the next step.

Serious Buyer
Comments:
Posted by LadyScot on 2010-01-12:
My MIL was a realtor, and constantly updated her MLS listings. However, you should be aware that a house does not sell in one day. Bids are placed and then it can take time for bid acceptance, paperwork loan approval etc. That is why closings take 2-3 weeks. Thus a house is not taken off the market until a loan has come through. It is listed as in process or something.I can't remember.

I just checked her MLS (I have her password since I did most of her typing and it still works) against the homes available (you don't need to pay or have a password to search) on realtracs.com. I found several I would love to have, and all were available to purchase.


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