Special Servicing

1 Reply

Thank you to those in advance.

I recently placed a bid on a property in I was the highest bidder, however my offer did not meet the reserve that was set in place. This was the 3rd time it was placed in auction and each auction the highest bid kept going lower.

IT has been "under review" for 10 days. AN email Inquiry the response stated that this property has been submitted to a Special Servicer and will be updated once they receive a response.

My question is, if anyone has any experience with this type of auction, how long does this take?

@Ravi P. Same thing happened to me. Seems like they are trying to meet the reserve price. Any update on this on the property you were bidding on? Did you win? If so how high did you go from your first winning bid