Court style foreclosure sales : Are there any restrictions on the plaintiff's...

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itsjunglepat

New member
...maximum bid? They started to do online foreclosure sales in my area and I'm tempted to bid. I noticed that some plaintiffs (banks/mortgage companies) hide their maximum bid and others don't. Is there a percentage limit to what they can bid or can they bid whatever the company will allow?
 
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SteveD

Member
Whatever they want - the companies holding the foreclosure are trying to protect their investment. By buying a foreclosed property, they can turn around and sell it later and hope to come out ahead as opposed to letting it go lower.
 
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