Buy Owner, a Florida-based company that helped for-sale-by-owners market their properties around the country has reportedly filed for liquidation.  It has turned over its assets to Michael Moecker & Associates, an auction firm that liquidates insolvent companies.

The auction firm said it will continue operating the Buy Owner.com website and provide services to consumers for the time being, in order to continue generating revenue to pay off creditors.

Buy Owner reportedly settled a class-action lawsuit last year that required it to pay refunds to many clients from 2002-08. The lawsuit alleged that Buy Owner hadn't allowed clients to cancel contracts, the story said.

The Deerfield Beach, Florida-based company does business in 10 markets, including Miami, Chicago, Dallas and Atlanta.

Buy Owner reportedly owes more than $3.9 million to its only secured creditor, and $1.2 million in back wages to executives.