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Foreclosures
HomeForumsForeclosuresStarting bid price in a Trustee Sale auction
Lang Le's profile image
Lang Le's profile image
Lang Le
  • from Grovetown, Georgia
  • Member since Nov 8, 2014
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Lang Le's profile image
Lang Le's profile image
Lang Le
  • from Grovetown, Georgia
  • Member since Nov 8, 2014
Connect
Lang Le
  • Grovetown, GA
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13
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Foreclosures

Starting bid price in a Trustee Sale auction

Lang Le
  • Grovetown, GA
Posted Nov 9 2014, 17:11

Who establish the starting bid price  (minimum bid)  in a Trustee Sale auction ? Is this price relate to the mortgage balance ? 

I see a case where the mortgage balance is 350K and the starting bid price is 200K. What happen if someone win the bid at 201K? Will the bank accept to loose almost 150K ?

Thanks

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