Auction Terminology
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.