Overbidding on Auction.com (Middletown Connecticut)

[James McGovern]

I have been following a property that I believe a good price for is around $85K. Here is the link to the listing on auction.com 

26 Delwood Ave, Middletown, CT, 06457, USA (auction.com)

I spent time researching this property over the Weekend and identified the following issues

1) The current occupants have filed for bankruptcy which makes eviction virtually impossible.

2) The property is on the Town's Blight list and will require a near immediate cleanup after transfer of title as the fines continue to grow

3) The roof has a major leak and none of the mechanicals in the house are in working order.

4) The occupants have indicated they have no where to go and will be destructive if forced to leave.

Why would anyone bid$155K on this property? 

[Chad U.]

Actually Auction.com shill bids it up each time a 3rd party bids to get it up to the seller's reserve price.  It's not the seller counter bidding.