As times get a little tighter, the banks may start letting things go.
An auction that took place directly accross the street from my office a few weeks ago had a very surprising outcome. It was an auction for a business, the equipment, etal, as well as the building it resided in with 6 or 7 apartments and retail rental spaces. Between two banks the total note was 1.3 million and change. It sold at auction for $465,000 (very close to its appraised value on the tax card) and will reopen at some point. You may have read about it in the papers as it was in more than one at the time of the auction as well as at the time the business closed.
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