On May 4, 9:04*am, Ignoramus15919

I am now wondering if, perhaps, the whole "real estate auction"
concept, as practiced by this auction company, is just a clever "new
age marketing technique"?


Any comments?

i

It could be the auction company or it could be the bank. I usually
give the benefit of the doubt in cases like this. So my guess is that
they expected to get higher bids. And decided to not have a published
reserve but to have it so the bank could refuse if the price was too
low.

If you know which bank owns the house, you might take the time to talk
to them. In a couple of months they might decide they really do need
to sell the house and contact you with a realistic price.

Dan