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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Need info in Kansas Posted by Les on March 21, 2002 at 5:20 AM Hey Ward, I first want to say this is a great site. I learn a lot from you. I have a few questions about sheriff sale in Kansas. 1) Can a attorney for the lender continue to bid on a property after their initial bid. Example, Suppose all cost for the attorney that bids totals $70,000 and I bid $70,001. Can the lender's attorney over bid me. (yes or No)? 2)Case Study: From the court records, a borrower defaulted on a $109,000 mortage loan, however when it came time for the sheriff sale the lender attorney only bidded $92,000. I estimated the market value to be $130,000. I have seen example like this happen a few times and I am wondering why they would bid below the amount of the unpaid balance. What are your thoughts? 3)Regarding the previous example, suppose they bid $92,000 an I overbid them. Can they continue to bid? I have search Kansas law, but found nothing that say lender's attorney can only bid for the amount due. 4)Finally, can lender's attorney included they fees in all associated cost towards forclosure? My attorney seems to think they can not include their fees in their bid. Follow Ups: Foreclosure auctions are open to any and all bidders. Ward-CA- 5:48 PM, 03/21/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hey Ward, I first want to say this is a great site. I learn a lot from you. I have a few questions about sheriff sale in Kansas. : 1) Can a attorney for the lender continue to bid on a property after their initial bid. Example, Suppose all cost for the attorney that bids totals $70,000 and I bid $70,001. Can the lender's attorney over bid me. (yes or No)? : 2)Case Study: From the court records, a borrower defaulted on a $109,000 mortage loan, however when it came time for the sheriff sale the lender attorney only bidded $92,000. I estimated the market value to be $130,000. I have seen example like this happen a few times and I am wondering why they would bid below the amount of the unpaid balance. What are your thoughts? : 3)Regarding the previous example, suppose they bid $92,000 an I overbid them. Can they continue to bid? I have search Kansas law, but found nothing that say lender's attorney can only bid for the amount due. : 4)Finally, can lender's attorney included they fees in all associated cost towards forclosure? My attorney seems to think they can not include their fees in their bid. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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