2BR/1BA Home at 308 E. 56th St. in Long Beach....
Value: $294,000.00 Est Bid: $417,061.00 Opening Bid: $100.00 Sold: $186,100.00 !!!
This was a teaser bid of just $100.00 to open the auction.
It usually means the lender has set a "Reserve" that they want to be paid, but you have to bid to find out.
Here it seems the bidder topped the reserve by $100.00..
2BR/1BA Home at 1259 E. 47th Pl in Los Angeles...
Value: $184,000 Est Bid: $254,240.00 Opening Bid: $80,058.60 Sold: $80,058.61 !!!
This was a low opening bid with no reserve set.
In this case the lender reduced the starting price for the auction with no reservations
about what they wanted to sell the property for. The bidder paid just one cent over the opening bid.
3BR/1BA Home at 10341 Kalmia St. in Los Angeles....
Value: $314,500.00 Est Bid: $363,491.00 Opening Bid: $87,525.00 Sold: $87,525.01 !!!
This is another example of a low opening bid where the lender had no reservations.
They opened the bid and one lone bidder offered just one penny more. Wow!!!