Tax Liens & Mortgage Notes
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated almost 8 years ago on . Most recent reply

RE investor legally robs bank!
I heard this story and was wondering if anyone had actually experienced anything like this?
A guy goes to a judicial foreclosure auction and manages to pick up a house worth hundreds of thousands for $1K.
The lawyer representing the bank was supposed to show up and make a full credit bid but he got stuck in the court restroom.
The law firm and/or the bank are screaming at the county constable to do something but the law was followed and they are out of luck.
I don't know how the story ends but I imagine that either;
a) the bank made him an offer to good to refuse wrapped in a thinly veiled threat of legal action
b) they got a temporary restraining order and then buried him in lawsuits
c) being the easy going fair minded people that they are, they cut their losses and moved on
Most Popular Reply

- Real Estate Professional
- West Palm Beach, FL
- 13,508
- Votes |
- 23,418
- Posts
@Robert Steele It's not a "powerful bank" thing, it's a law thing......unjust enrichment, or something like that. We are judicial here, the judges show no favoritism for banks, just for the law.