Probate Auction Bidding Advice

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Does anyone have any rules of thumb on what percentage of appraised value to stay under when bidding sight unseen on probate properties? Thanks!

Comments(2)

  • Lufos29th August, 2004

    Do not bid sight unseen. Like marrying a girl on the advice of her teacher. I really check them out and I always try to participate in any commissions and I try to be the bidder that brings the property to auction. At least you have a chance to make a dolllar.

    Sometimes a good deal. My experience of recent date is like everywhere there is an auction the prices are too high.

    I have a client dealing with the successful bidder of a probate. After he checked it out he knows he is too high. Sooo, he will take a little loss just to recapture his capital. Now that is fun. We intend to play him with paper.

    Cheers Lucius

  • AKRobinson30th August, 2004

    Unfortunately, they don't allow inspections here. Thanks for the advice!

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