I am new... and have a question. A few days ago, there was a foreclosure duplex in an online auction, which also listed on realtor.com. It was fully occupied. Starting price was ~$39,000. I do not know what was the final price.. but a few DAYs later after the auction ended, the price of the duplex jumped to ~$117,000 on realtor.com. The comps were at 90k ~ 100k.
My question is... Is it what happens if the duplex is livable? If the duplex got an appraisal value of $110,000 AS IS, does the price usually go back to the appraisal value when the auction ends?
Thank you very much for your advice!
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