Suspicious. I randomly selected 5 of the homes from that auction page and looked them up on zillow. They all turned up as “recently sold” within the past couple of months. I think this is yet another flipper scheme to run up some hype amongst dumb bunny buyers. This is pure speculation, but I’ll be it works like this:
1. Buy up some cheap homes, probably with the false-comp cash-back scheme discussed in another thread which makes zillow’s (and the assessor’s) sales history show falsely inflated prices.
2. Advertise some auction where the so-called starting bid is really low (lower than what it lists in the sales history).
3. Have an accomplice go to the auction and bid to make sure nobody really gets the place for a low price. Buyer dummies who show up at the auction might fall for these “planted bidders” and make bids of their own. Suckers!
4. The flippers make money from buyer dumb bunny.
Is there a way someone can look to see if any of these “foreclosure auction” homes are actually in foreclosure?
