Banks are constantly tweaking their foreclosure package, thinking it will provide more benefits. In the confidential remarks:
This property is under Auction Terms. All bids are to be submitted through auction.com. This property is subject to a 5% buyer’s premium.
Here is the link:
It has a reserve price, the buyer pays the 5% premium on top of the sales price, the on-line bidding doesn’t start until May 30th, and the opening bid is $450,000.
The list price is $939,750 in the MLS: