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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: DROP BIDS, Posted by Paul on November 24, 2009 at 9:32 AM In Reply to: Re: DROP BIDS, posted by Bob on November 23, 2009 at 11:33 PM : : : : : : : : Brillant. Now they want to give the homeowner that caused the problem an indirect incentive to make the home worth less so they can reacquire the property at a lowest possible price. Often lenders drop bids based heavily on the poor condition of the property due to deferred maintenance. : : : Bob : : The main concern voiced in the article was unreasonable, short notice on dropped bids. The AZ, state statute requires notification of a drop bid prior to 9AM. This has very little to do with less-responsble home owners but rather with trustees who aren't playing by the rules : : Paul, : I did not see the statue referenced in the article. Which statue or law are you or they refering to so that potential bidders could be educated. The article didn't quote a statute just made the statement: Arizona law requires opening bids on the foreclosure properties to be posted at 9 a.m. the day before the auctions. This is so all potential bidders, including the homeowner, have the information in time to research a property and line up money to bid. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : : : : : : : : : Brillant. Now they want to give the homeowner that caused the problem an indirect incentive to make the home worth less so they can reacquire the property at a lowest possible price. Often lenders drop bids based heavily on the poor condition of the property due to deferred maintenance. : : : : Bob : : : The main concern voiced in the article was unreasonable, short notice on dropped bids. The AZ, state statute requires notification of a drop bid prior to 9AM. This has very little to do with less-responsble home owners but rather with trustees who aren't playing by the rules : : : : Paul, : : I did not see the statue referenced in the article. Which statue or law are you or they refering to so that potential bidders could be educated. : The article didn't quote a statute just made the statement: : <i>Arizona law requires opening bids on the foreclosure properties to be posted at 9 a.m. the day before the auctions. This is so all potential bidders, including the homeowner, have the information in time to research a property and line up money to bid.</i> [ 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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