12-05-2008, 12:44 PM
Back to the topic...
I went to a foreclosure auction today, one of those ones that you constantly see advertised in the paper, at the flagpole outside the courthouse in Hilo. What a waste of time. About 15 people turned up for the 12 noon start, the guy running it postponed it 15 mins, then another 15 mins (he was constantly on the phone to someone).
Then he announced that some of the properties wouldn't be auctioned today, and ran through a list of 18 of them that were postponed. This left 2 properties (I don't know why he didn't just name them instead of naming the other 18!).
Both properties were in Kona, and neither attracted any bids because the starting prices were 913K and 369K. So much for "no upset price".
Did I just go at a bad time, or are these auctions always a farce?
I went to a foreclosure auction today, one of those ones that you constantly see advertised in the paper, at the flagpole outside the courthouse in Hilo. What a waste of time. About 15 people turned up for the 12 noon start, the guy running it postponed it 15 mins, then another 15 mins (he was constantly on the phone to someone).
Then he announced that some of the properties wouldn't be auctioned today, and ran through a list of 18 of them that were postponed. This left 2 properties (I don't know why he didn't just name them instead of naming the other 18!).
Both properties were in Kona, and neither attracted any bids because the starting prices were 913K and 369K. So much for "no upset price".
Did I just go at a bad time, or are these auctions always a farce?