Is it true that bank-owned REO properties are usually being sold to the highest bidder?

Question by Happy day: Is it true that bank-owned REO properties are usually being sold to the highest bidder? Banks (REO sellers) only care about the bottom line (ie the final number). They don’t care about other factors such as buyer’s FICO scores (750 or 800), down payment amount (20% or 40%), or it’s the [...]

Sole bidder at foreclosure sale, D.C. pays $20 million for Southeast hospital – http://ping.fm/nAab1

Sole bidder at foreclosure sale, D.C. pays million for Southeast hospital – http://ping.fm/nAab1 – by RachelTomms (Rachel Tomms)