Admirable-Common-176 t1_jedutkl wrote on March 31, 2023 at 8:42 AM

Foreclosed homes are generally sold at auction where investors and unethically the banks will bid up the prices. Also, transaction occurs once auction is completed. It is possible they could be sold by a “wholesaler” who bought at auction and added a couple grand for profit. Lots of ways this could go down these days especially after the last bubble/crash.

RMN1999_V2 t1_jef2wj1 wrote on March 31, 2023 at 3:29 PM

To add a little to this post. The lien holders typically bid the price to whatever they are into the property for. This allows them to be made whole if someone buys it. It has to be a really crappy property for this not to happen.