Florida Home Loans News

‘I smelled a rat’ bidder says of a Tampa Bay foreclosure auction. Others did too

/ What NOT to do when the auction winner doesn’t pay. Aug 27. A nonprofit was stiffed by a winning auction bidder. The nonprofit took fast action, announcing his name on their website.. I won an item from my alma mater’s online auction and the auction director says she put my winning.

The auction did seem a bit suspicious to me.it seemed like I was the only bidder (besides what seemed like straw bids from the auction house). Also, as the time between my bids became longer (I was reaching my pre-determined limit), the bid increment dropped from $7500 to $2500.

‘I smelled a rat’ bidder says of a tampa bay foreclosure auction. Others did too ‘It’s a disturbing trend.’ The rate of foreclosure starts in South Florida has spiked ; FDLE agents raid office of St. Petersburg attorney mark stopa; florida bar wants emergency suspension of foreclosure lawyer Mark Stopa

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Go to your local auction and see what others bid on, and how much each type of property go for in your area. There should be a general "auction price" for each type at your auction, and it should be 50% to 75% of the real market price, less back taxes and repairs.

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States in which the property is sold by court order, usually following acceleration of the balance by the lender. The real estate is sold by public auction to the highest bidder. Illinois is a judicial foreclosure state. In Illinois, 31 days after judgement, the mortgagor must vacate or be subject to eviction.

Red-faced public officials moved quickly to get the Kevlar vests removed from the B.C. Auction site after they were put for sale Wednesday. Obviously selling the vests to the highest anonymous bidder.

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‘I smelled a rat’ bidder says of a Tampa Bay foreclosure auction. Others did too

Can I bid on a bank-owned home at AUCTION.COM? Is it much safer than a trustee auction? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.