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A bank foreclosing and auctioning to themselves at a fire sale price. It really doesn't look arms length, but perhaps it will still be appraised at some higher
by kurthr 2y ago
A bank foreclosing and auctioning to themselves at a fire sale price.
It really doesn't look arms length, but perhaps it will still be appraised at some higher price.
- s1artibartfast 2y agoI guess that depends on if it was an open auction and if the bank placed the top bid. Sales dont have to be at arms length. It is just that if they aren't, it opens price and sale process to scrutiny for self dealing. it doesnt mean that self dealing occurred.