Tampa FL Foreclosures at Courthouse $100 Bank bids ?


Share |

This is specific to Tampa FL- courthouse home auction- why do banks have to bid on props they already have foreclosed on? Several banks bid $100 and some higher. I thought the title to the property was being auctioned by the bank, so why would they bid to buy back what they already own ? Why do they have to bid...


Banks in Tampa, FL



Answer (1):

 
Connie L

It is a public auction, so any one can bid. It's likely the properties have not been foreclosed on yet, the courthouse auction is another step in that process. The banks will bid to protect their interest in the property.

 

Relevant answer in Tampa, FL