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HLS
ParticipantThe opening bid was $50k…it may as well have been 1c.
There is still a reserve price that needs to be met, although it isn’t disclosed.
Participantit’s so early and yet such a huge drop… is this what they call a “total collapse”?
Not at all..
It’s a single example of how the auction process works.In many industries, auctions are held to liquidate inventory. A retail buyer OR wholesale buyer are dealing on the same level, i.e. they both have the opportunity to buy at the same price and terms.
There is a purpose for auctions. IF you agree and abide by terms of sale, it is a possible opportunity.
It’s not exactly true to say that is all the auction lot is worth. It is accurate to say that is all it was worth that day to the highest bidder that was present who was able to meet the terms of sale.
It is possible to buy things at auction and resell to another buyer quickly at a profit who didn’t attend the sale or who couldn’t meet the terms.
A duplicate lot on another day will not necessarily sell for the same price. An auction is not always a bargain. Many people overpay at them also.
There are always people who didn’t attend the auction, but will say “I would have paid more than that”
Participantit’s so early and yet such a huge drop… is this what they call a “total collapse”?
Not at all..
It’s a single example of how the auction process works.In many industries, auctions are held to liquidate inventory. A retail buyer OR wholesale buyer are dealing on the same level, i.e. they both have the opportunity to buy at the same price and terms.
There is a purpose for auctions. IF you agree and abide by terms of sale, it is a possible opportunity.
It’s not exactly true to say that is all the auction lot is worth. It is accurate to say that is all it was worth that day to the highest bidder that was present who was able to meet the terms of sale.
It is possible to buy things at auction and resell to another buyer quickly at a profit who didn’t attend the sale or who couldn’t meet the terms.
A duplicate lot on another day will not necessarily sell for the same price. An auction is not always a bargain. Many people overpay at them also.
There are always people who didn’t attend the auction, but will say “I would have paid more than that”
Participantit’s so early and yet such a huge drop… is this what they call a “total collapse”?
Not at all..
It’s a single example of how the auction process works.In many industries, auctions are held to liquidate inventory. A retail buyer OR wholesale buyer are dealing on the same level, i.e. they both have the opportunity to buy at the same price and terms.
There is a purpose for auctions. IF you agree and abide by terms of sale, it is a possible opportunity.
It’s not exactly true to say that is all the auction lot is worth. It is accurate to say that is all it was worth that day to the highest bidder that was present who was able to meet the terms of sale.
It is possible to buy things at auction and resell to another buyer quickly at a profit who didn’t attend the sale or who couldn’t meet the terms.
A duplicate lot on another day will not necessarily sell for the same price. An auction is not always a bargain. Many people overpay at them also.
There are always people who didn’t attend the auction, but will say “I would have paid more than that”
Participantit’s so early and yet such a huge drop… is this what they call a “total collapse”?
Not at all..
It’s a single example of how the auction process works.In many industries, auctions are held to liquidate inventory. A retail buyer OR wholesale buyer are dealing on the same level, i.e. they both have the opportunity to buy at the same price and terms.
There is a purpose for auctions. IF you agree and abide by terms of sale, it is a possible opportunity.
It’s not exactly true to say that is all the auction lot is worth. It is accurate to say that is all it was worth that day to the highest bidder that was present who was able to meet the terms of sale.
It is possible to buy things at auction and resell to another buyer quickly at a profit who didn’t attend the sale or who couldn’t meet the terms.
A duplicate lot on another day will not necessarily sell for the same price. An auction is not always a bargain. Many people overpay at them also.
There are always people who didn’t attend the auction, but will say “I would have paid more than that”
Participantit’s so early and yet such a huge drop… is this what they call a “total collapse”?
Not at all..
It’s a single example of how the auction process works.In many industries, auctions are held to liquidate inventory. A retail buyer OR wholesale buyer are dealing on the same level, i.e. they both have the opportunity to buy at the same price and terms.
There is a purpose for auctions. IF you agree and abide by terms of sale, it is a possible opportunity.
It’s not exactly true to say that is all the auction lot is worth. It is accurate to say that is all it was worth that day to the highest bidder that was present who was able to meet the terms of sale.
It is possible to buy things at auction and resell to another buyer quickly at a profit who didn’t attend the sale or who couldn’t meet the terms.
A duplicate lot on another day will not necessarily sell for the same price. An auction is not always a bargain. Many people overpay at them also.
There are always people who didn’t attend the auction, but will say “I would have paid more than that”
ParticipantZILLOW is not intended to be an accurate current appraisal/value of ANY property.
It means absolutely nothing to anybody, except an owner in denial about the market, thinking that it must be right.
In most cases it’s stupid high.
The value range IS usually accurate.ParticipantZILLOW is not intended to be an accurate current appraisal/value of ANY property.
It means absolutely nothing to anybody, except an owner in denial about the market, thinking that it must be right.
In most cases it’s stupid high.
The value range IS usually accurate.ParticipantZILLOW is not intended to be an accurate current appraisal/value of ANY property.
It means absolutely nothing to anybody, except an owner in denial about the market, thinking that it must be right.
In most cases it’s stupid high.
The value range IS usually accurate.ParticipantZILLOW is not intended to be an accurate current appraisal/value of ANY property.
It means absolutely nothing to anybody, except an owner in denial about the market, thinking that it must be right.
In most cases it’s stupid high.
The value range IS usually accurate.ParticipantZILLOW is not intended to be an accurate current appraisal/value of ANY property.
It means absolutely nothing to anybody, except an owner in denial about the market, thinking that it must be right.
In most cases it’s stupid high.
The value range IS usually accurate.ParticipantUsual disclaimer:
All auctions are subject to court or seller approval. Over 90% of all sales are approved, most within 7 business days. Buyers are not allowed possession until filing of the deed, at which time the property should be re-keyed. “Showing” requests from Buyers after the auction may not be able to be accommodated.
There will be plenty more like this.. There is currently a 2900 sq ft home in Menifee for $310K built in 2005
Lender foreclosed at $465K…None of this should be surprising. These homes are not cheap, they are only cheaper than they were in 2005-06.
New comps will be established, scaring lenders from loaning on the next one at higher levels…ParticipantUsual disclaimer:
All auctions are subject to court or seller approval. Over 90% of all sales are approved, most within 7 business days. Buyers are not allowed possession until filing of the deed, at which time the property should be re-keyed. “Showing” requests from Buyers after the auction may not be able to be accommodated.
There will be plenty more like this.. There is currently a 2900 sq ft home in Menifee for $310K built in 2005
Lender foreclosed at $465K…None of this should be surprising. These homes are not cheap, they are only cheaper than they were in 2005-06.
New comps will be established, scaring lenders from loaning on the next one at higher levels…ParticipantUsual disclaimer:
All auctions are subject to court or seller approval. Over 90% of all sales are approved, most within 7 business days. Buyers are not allowed possession until filing of the deed, at which time the property should be re-keyed. “Showing” requests from Buyers after the auction may not be able to be accommodated.
There will be plenty more like this.. There is currently a 2900 sq ft home in Menifee for $310K built in 2005
Lender foreclosed at $465K…None of this should be surprising. These homes are not cheap, they are only cheaper than they were in 2005-06.
New comps will be established, scaring lenders from loaning on the next one at higher levels… -
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