On 2011-05-04, Paul K. Dickman wrote:

Move on and bid on another one, you might get lucky.


I understand this a little better now, after having read countless
forum threads about "house auction rejected by bank".

The auction company would love to see 100% of sales close, to get
commissions and move on.

It is the banks and SPVs that are playing games, listing homes on
auctions in hopes of sucker bids, and if none materialize, as a basis
for negotiations. They routinely keep listing a house and putting it
on various auctions etc.

The result of this, of course, is that bidders are less inclined to
bid.

i