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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] how much do owners get at the auction? Posted by Greg - CA on April 24, 2002 at 8:47 PM Ward, What can the owner expect back (overbid) from the auction these days? (San Diego). I'm talking about an owner with substantial equity.Say for example there's a $200K house, and he only owes $100K. From what I've heard it will get bid up to 80% which means the owner would get the extra $60K. But I've also heard that there is great risk that the bidders will form an alliance so that that the bidding stops at just over the initial bid. The reason I ask is this: When I negotiate with such an owner, I'd like to be able to tell him what to expect. I'm concerned that if he can actually get 80% of value just by letting it go to sale, he might not want to take my offer for less. Greg Follow Ups: Depends on market, type of property, # of postponements, etc. Ward-CA- 6:37 AM, 04/25/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, : What can the owner expect back (overbid) from the auction these days? (San Diego). I'm talking about an owner with substantial equity.Say for example there's a $200K house, and he only owes $100K. : From what I've heard it will get bid up to 80% which means the owner would get the extra $60K. : But I've also heard that there is great risk that the bidders will form an alliance so that that the bidding stops at just over the initial bid. : The reason I ask is this: When I negotiate with such an owner, I'd like to be able to tell him what to expect. I'm concerned that if he can actually get 80% of value just by letting it go to sale, he might not want to take my offer for less. : Greg 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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