That’s like saying “This broken iPhone 13 sold on eBay for only $80. That’s a big problem.”
An LLC paid $25K because the bank owning the home was willing to sell it for $25K. And that’s not because the bank hated money. If someone else had been willing to pay more then it would have sold for more. That’s how foreclosure auctions work.
Foreclosed homes generally sell for a lot less because the occupant often causes a legal and physical mess and most home buyers are not interested in dealing with it.
That’s like saying “This broken iPhone 13 sold on eBay for only $80. That’s a big problem.”
An LLC paid $25K because the bank owning the home was willing to sell it for $25K. And that’s not because the bank hated money. If someone else had been willing to pay more then it would have sold for more. That’s how foreclosure auctions work.
Foreclosed homes generally sell for a lot less because the occupant often causes a legal and physical mess and most home buyers are not interested in dealing with it.