Initial Overbid increment
Posted: Wed Jan 27, 2010 9:37 pm
Thank you Larry!
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868
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On Wed 27/01/10 9:28 PM , "Larry Simons" larry@lsimonslaw.com sent:
Typically overbid amounts are set at $1,000 on up depending on the
initial sales price. The overbids are usually set so that any
competitive overbidding is not chilled.
FROM: cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] ON
BEHALF OF Mark Jessee
SENT: Wednesday, January 27, 2010 9:18 PM
TO: cdcbaa@yahoogroups.com
SUBJECT: [cdcbaa] Initial Overbid increment
Rare as it is in these days, I have a Chap. 7 case with real
property being sold by the trustee. Even more rare these days it looks
like there is interest in overbidding. I am trying to figure out the
minimum overbid increment at the request of the the potential
overbidders as they would allow the debtor to stay in the property.
There is nothing in the local rules I see setting a percentage. It
appears up to the judge to decide. Is there a typical percentage that
usually is adopted in these circumstances. It is a Judge Thompson
case.
Mark Jessee
Links:
[1] mailto:larry@lsimonslaw.com?subjectRE: [cdcbaa] Initial Overbid
increment
[2] mailto:cdcbaa@yahoogroups.com?subjectRE: [cdcbaa] Initial
Overbid increment
[3]
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