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Banks can also bid. So when a property goes into foreclosure, the bank will often buy it at auction if there's nothing but lowball bids and resell it through t
by projektfu 6y ago
Banks can also bid. So when a property goes into foreclosure, the bank will often buy it at auction if there's nothing but lowball bids and resell it through the normal market.
- sudosysgen 6y agoPart of how penny auctions work is by preventing banks from having any return on their investments, using either force or rent striking the bank.