Need Advice: Stalking Horse Bidder in Foreclosure
We are looking for advice on being the "stalking horse bidder" (first timer) on a mobile park that is being foreclosed. Does anyone have experience with this, and what should be the general strategy? Some issues we are pondering: How much to set the initial bid? Specific terms to ask for in the purchase agreement. How much for the breakup fee...etc.
Any advice is appreciated!