Re: Attending real estate auctions (trip report)
In in the early 90's I worked for a company that was a special servicer for the FDIC. I can remmeber a number of properties that we tried to market and were unable to sell. We put these "problem" properties into a huge auction and most sold for significantly above what we were trying to get through normal marketing channels. Moral of the story: auctions are great if you are the seller but generally a bad idea if you are a buyer.
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