I've heard of places doing this but yet I don't see how or why they would do this. Esp when some people only owe 5k-10k.
If this is true, I personally can't see selling a 100k house for 5k.
2007-08-24 08:48:30 · 3 answers · asked by Allen C 2 in Business & Finance ➔ Taxes ➔ United States
yes
but does it happen often
no
why ?
because foreclosures are public record
so at the auction people WILL show up to bid on a property cheap
and they will drive up the price
eventually at a pretty decent but still below current market value, price
just like eBay.. too bad there is no bid sniping in real life
2007-08-24 14:40:43 · answer #1 · answered by Anonymous · 0⤊ 1⤋
The houses as auction usually go for much more than the taxes due, unless they are falling down.
2007-08-24 14:37:50 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
The towns will try and auction off the house for as much as they can get for it.
2007-08-24 09:26:19 · answer #3 · answered by Anonymous · 3⤊ 0⤋