Don’t put too many eggs in this basket since it’s my cynical observation that the majority of short sales take forever and then fall through.

Simply say this is what you will pay and then if they balk tell them if they don't get another buyer and reduce the price to call you.You don't want to burn bridges with them because they might have another asset hit the market you will do a deal on.Many of these bankers are clueless and have a disconnect with market value and are only thinking of the balance sheet.They will struggle back and forth on what to do especially the smaller banks.The small ones can't take the hits like the bigger ones.This is just what I have observed doing deals with banks.

If it is a smaller law firm, they will usually hire the bidding to a local attorney; think about the time spent travelling back and forth, paying for parking, sitting at the sale for an hour or more - this all costs money, so paying somebody else to do this (who will also be doing this for many other law firms) makes lots of sense.As to question #2: The state laws require that this be handled in a public auction, so that is why it happens in the way you observed.

I am wondering which of the listing agnt's activities are unobservable. I know you don't know how many calls they make to other agents and potential buyers. What else?

I observed and could just about tick off the 7 laws and 21 principles of Sales Mastery technique being put into action.

Some quick observations before I leave for lunch... if he says he has $42k in equity, then it sounds like he is just trying to get his pay off amount since he says he want the $95K.

Just an observation - most of posters who support the bullishness have 1 or 2 posts on this board.

Then use it as a training course, stay involved, observe and learn from the pros all you can.

This is observed in many features other then framing, like electrical, plumbing, etc..

I have spent quite a bit of time on insurance issues and pricing for my rentals and have several observations.