Posted by chet on January 28, 2005 at 21:27:47:
These vary state to state.
At a sale here, when you sign in w/ the auctioneer, they’s supposed to verify the amount of $ you have.
The auction always starts at the opening bid.
It’s a public auction, almost anyone can bid.
good luck.
Sheriif sale where city is foreclosing-Urgent - Posted by Tim Jensen
Posted by Tim Jensen on January 28, 2005 at 17:19:36:
Hi ALL,
I am attending a sale next week the city is foreclosing on a $800 lien and there is 5k owed on the 1st mort. The place is worth 75k.
My question:
Does the city have the right to bid over the opening bid?
If they start bidding aboce their opening bid can I request that they show proof of fund? You need 100% at time of sale.
Thanks,
Tim
A little trick… - Posted by Ben (NJ)
Posted by Ben (NJ) on January 29, 2005 at 17:00:15:
prior to a tax sale I attended the city announced they were interested in several properties and would be bidding. Since everything they do has to be done by resolution I checked the minutes of the last council meeting and there it was “by council vote the city is only permitted to bid to x amount and no further” LOL.
It’s worth a try.