All Forum Posts by: Chris Laino

Hi,

I participated in an online auction recently for tax liens. This was my first time doing this so I played things as safe as possible (bidding only the max possible of 18%, in nice areas of the town on properties that were not in foreclosure or pre-foreclosure). I was only bidding on liens that were $350 and under. Unfortunately, I did not win any of the liens, and when I saw the winning bid, all of them were premiums (ranging from $300 on a $130 lien to $1,100 on a $350 lien). I was wondering what the benefit of bidding a premium is since the property owner does not have to reimburse the premium of the lien. 

Thanks! 

Hi,

I am new to investing and I was interested in potentially buying foreclosed properties (REO- not at an auction)and reselling them. I was curious how much under the asking price the bank would be willing to accept. For example a house that was listed at $500,000 but has been on the market for 100+ days? Any help would be greatly appreciated!

-Chris