Real Estate Disposition Corp. San Diego Auction

[Troubled Loner]

I visited their website to see if there were reserves on the properties, or if banks were allowed to bid up prices (this was present in the last auction we saw a few months ago). I did not find anything that addressed this, do any of you know if this auction will have unknown reserves and/or if banks are bidding up prices?

If not, I view the auction as a way to kind of see where the market is right now.

[NotCranky]

TL
“visited their website to see if there were reserves on the properties, or if banks were allowed to bid up prices”

I didn’t find anything with regard to reserves. I don’t see what could stop the trustee from bidding it up. What I don’t like if there are reserves, are the very low starting bid prices. I think if there are min reserve requirements starting bid should be at the min reserve level.

[NotCranky]

TL
“visited their website to see if there were reserves on the properties, or if banks were allowed to bid up prices”

I didn’t find anything with regard to reserves. I don’t see what could stop the trustee from bidding it up. What I don’t like if there are reserves, are the very low starting bid prices. I think if there are min reserve requirements starting bid should be at the min reserve level.

[NotCranky]

TL
“visited their website to see if there were reserves on the properties, or if banks were allowed to bid up prices”

I didn’t find anything with regard to reserves. I don’t see what could stop the trustee from bidding it up. What I don’t like if there are reserves, are the very low starting bid prices. I think if there are min reserve requirements starting bid should be at the min reserve level.

[an]

They do have reserve, but you don’t know what it is. Based on the research I did on the last time I went to the auction, they do have someone working for the bank there bidding against you up to the reserve. So not only do you not know what the reserve is, but you also don’t know if the person you’re bidding against is really another buyer or the lender themselves.

[an]

They do have reserve, but you don’t know what it is. Based on the research I did on the last time I went to the auction, they do have someone working for the bank there bidding against you up to the reserve. So not only do you not know what the reserve is, but you also don’t know if the person you’re bidding against is really another buyer or the lender themselves.

[an]

They do have reserve, but you don’t know what it is. Based on the research I did on the last time I went to the auction, they do have someone working for the bank there bidding against you up to the reserve. So not only do you not know what the reserve is, but you also don’t know if the person you’re bidding against is really another buyer or the lender themselves.

[4plexowner]

There are no laws against planting shills at an auction

Auctioneers don’t even need shills though, they can take bids ‘off the wall’ which means they accept an imaginary bid from someone who doesn’t exist – this is done when a naive bidder clearly demonstrates willingness to pay more for the item being auctioned

The practice is also called ‘rolling’ in some circles – the auctioneer ‘rolls’ past a price as though someone had bid that amount

caveat emptor

[4plexowner]

There are no laws against planting shills at an auction

Auctioneers don’t even need shills though, they can take bids ‘off the wall’ which means they accept an imaginary bid from someone who doesn’t exist – this is done when a naive bidder clearly demonstrates willingness to pay more for the item being auctioned

The practice is also called ‘rolling’ in some circles – the auctioneer ‘rolls’ past a price as though someone had bid that amount

caveat emptor

[4plexowner]

There are no laws against planting shills at an auction

Auctioneers don’t even need shills though, they can take bids ‘off the wall’ which means they accept an imaginary bid from someone who doesn’t exist – this is done when a naive bidder clearly demonstrates willingness to pay more for the item being auctioned

The practice is also called ‘rolling’ in some circles – the auctioneer ‘rolls’ past a price as though someone had bid that amount

caveat emptor

[Author]

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