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More Insanity...

Posted by Lisa - CA on January 02, 2004 at 0:11 AM

Ward,

I observed a "Pro" win a bid the other day (Norwalk), but something seemed suspicious:

1) Min bid listed on Retran was $480K

2) Actual open bid was $456K (This was the foreclosing first)

3) 2nd was approx $320K

4) Winning bid was $520,300

-- Property address is 3482 Grayburn Rd. Pasadena, CA

Why didn't the 2nd just reinstate with so much at stake? Also, after a few sales the auctioneer stated the office needed to call him back for sales that were delayed. However, after about 20 mins he just left for the day. Please comment on what I think are some shady happenings. Thanks.


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