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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] overbid increments Posted by Jesus Houston on May 28, 2003 at 10:47 PM Hello Ward First of all, thanks for this great resource! I am new to this so I have a question: There is a Chapter 7 property for sale by the court and one offer has already been made at $450,000. The court says that the minimum overbid is $455,000 and that I need to bring $13,500 (33.3% of the original offer?) as a deposit. The bidding will go in $2000 increments (for which I need individual cashier's checks). My question is, are the $2000 increments for my offer, or a percentage (33.3%) of my offer? For example, if I want to bid $457,000, would I bring $13,000 and $2000?? thanks in advance Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Hello Ward : First of all, thanks for this great resource! : I am new to this so I have a question: : There is a Chapter 7 property for sale by the court and one offer has already : been made at $450,000. The court says that the minimum overbid is $455,000 : and that I need to bring $13,500 (33.3% of the original offer?) as a deposit. : The bidding will go in $2000 increments (for which I need individual cashier's : checks). : My question is, are the $2000 increments for my offer, or a percentage (33.3%) : of my offer? : For example, if I want to bid $457,000, would I bring $13,000 and $2000?? : thanks in advance 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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