BluegrassForeclosure.com

Lots of homes that were returned to banks at the Master Commissioner sale are starting to pop back up on the auction block.  This time though, it is not an absolute auction.  Here’s how it works.  Banks are starting to pool their inventories together to try and get things moving and off their books.  It’s a smart idea.  Put a lot of homes upon the auction block, promote the heck out of it, and then bring in as many investors as possible.

The advertisements promote that there are low starting bids.  But these are not absolute auctions, so the banks who own the properties can reject any bid that does not meet their ultimate price.  But we will try to keep an eye on these auctions and see how they are going.