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All Forum Posts by: Jacob Lemberg

Jacob Lemberg has started 1 posts and replied 1 times.

Post: Opening Bid way below amount owed

Jacob LembergPosted
  • Investor
  • Seattle, WA
  • Posts 1
  • Votes 0

hi everyone, I'm brand new here and have a question about a certain property. I hope this is allowed. The property in question has a $30,000 opening bid, but $127,000 is owed on the mortgage (which is probably about what it's worth). I know that there is also less than $10,000 in back taxes as well. Would the bank really start this low just to get it off their hands? Here is a link to the property I question. https://www.auction.com/washington/residential-auction-asset/1858576-17877-10220-foss-river-place-northeast-skykomish-wa-98288-e_3250