starting bids lower than owed?

3 Replies

I noticed that most listings have a starting bid that is less than what is owed.

Is this just a sales tactic, or in a single-bidder scenario (unrealistic) would the property actually be let go for such a low price?

Thank you.

im assuming your speaking of the Sheriff/Trustee sale properties? if so the opening bids are either estimated, or given by the banks legal counsel. and yes they may be lower than what is owed, I have purchased for $1 over opening bid at the court house, not sure how the process works through, but Im buying one that is REO through them right now.

Property Management Software
Manage Your Rentals Better For Free. Save Time & Money.
Easily Collect Rent, Screen Tenants, Sign Leases, List Properties, Manage Work Orders, & Much More!
100% Free Try It Now