A properly advertised and marketed auction will produce 100% of the Present Cash Market Value 100% of the time.
Some auction companies like the one described above obviously did not properly produce or advertise the auction.
Foreclosure auctions are handled by bankers, lawyers and loan servicing companies who have zero motivation to actually sell the property.
As long as there are 2 to 5 *REAL* bidders who have the proper deposit and are ready to close on schedule the property will bring exactly what it is worth on auction day.
Wow cause the auction company I talked to said I should get close to FMV.....
A properly advertised and marketed auction will produce 100% of the Present Cash Market Value 100% of the time.
Some auction companies like the one described above obviously did not properly produce or advertise the auction.
Foreclosure auctions are handled by bankers, lawyers and loan servicing companies who have zero motivation to actually sell the property.
As long as there are 2 to 5 *REAL* bidders who have the proper deposit and are ready to close on schedule the property will bring exactly what it is worth on auction day.