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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Ability to discount 2nd in this hot market Posted by Jan Caldwell on July 02, 2003 at 10:21 PM Ward, I am tracking a foreclosure property where the 1st is a $250K lien, the 2nd a $30K and a property tax lien of $6K. The property when fixed up will sell from $470K to $500K. I have noticed from attending auctions that the properties sell for considerably more than opening bid (Today: opening bid $30K - winning bid $120K; opening bid $50K, winning bid $134K). What chance is there that I could get a discount on the 2nd (which is currently $30K)? What strategy do I use to propose a discount to the second? Thank you! Follow Ups: Jr. Bene buyout Q&A Ward-CA- 9:27 AM, 07/03/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, : I am tracking a foreclosure property where the 1st is a $250K lien, the 2nd a $30K and a property tax lien of $6K. The property when fixed up will sell from $470K to $500K. I have noticed from attending auctions that the properties sell for considerably more than opening bid (Today: opening bid $30K - winning bid $120K; opening bid $50K, winning bid $134K). What chance is there that I could get a discount on the 2nd (which is currently $30K)? What strategy do I use to propose a discount to the second? : Thank you! 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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