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Bid4Assets has conducted tax sales via online auction for more than half of the counties in Washington. In October, 2010, Bid4Assets hosted one of the largest online real estate auctions in the history of the United States in which over 13,000 properties located in Wayne County, Michigan, were auctioned due to unpaid real estate taxes. [11]
The property was sold at auction by Joe R. Pyle Complete Auction & Realty in 2015 and purchased by investor Ashby Berkley who also restored the former Pence Springs Hotel in Summers County, West Virginia. Berkley established a non-profit organization called the Sweet Springs Resort Park Foundation and has been restoring the property and ...
The Kettering Tower owner defaulted on the mortgage and the property was sold to Bank of America for $10.8 million at a Montgomery County Sheriff's Auction in 2011. [7] In 2012, Albert Macanian of Dunkirk Realty, paid only $6.4 million for the property. [8]
The Grand Estates Auction lawsuit was dismissed in 2014. [39] Since 2014, Concierge Auctions has been accused of artificially inflating the price of homes allegedly by using fake bidders. [6] In 2017, two real estate investors sued the company in a California federal court for allegedly keeping a deposit on a home in the country of Fiji. [7]
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Kohan purchased the Burnsville Center's debt at auction for $18 million in October 2020. [44] The Outlets of Little Rock were purchased for $10 million in January 2021. [45] Central Mall Lawton was sold to Lawton, Oklahoma for $14.6 million in January 2021. [46] Prizm Outlets was purchased by Kohan at auction for $1.525 million in January 2021 ...
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When the remaining mortgage balance is higher than the actual home value, the foreclosing party is unlikely to attract auction bids at this price level. A house that has gone through a foreclosure auction and failed to attract any acceptable bids may remain the property of the owner of the mortgage. That inventory is called REO (real estate ...