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Carlton Taylor
  • Easton, PA
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Auction Terminology

Carlton Taylor
  • Easton, PA
Posted Jan 9 2015, 12:10

I'm in Northampton County, PA. I've been to a few Sheriff's Sales here and I am trying to get a handle on whats being said. Majority of the properties being auctioned are bank foreclosures. The banks reps will always say something like "$1 plus costs max bid $65k." If costs are $4500 does that mean their opening bid is $4501 or are they stating that there is no point in anybody else bidding unless its over $65k? I'm new be gentle.

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