Price Fixing at Foreclosure Auctions!
The FBI is investigating whether investors at foreclosure auctions, which occur on court steps all around the Bay Area, have been colluding to keep prices down, and to beat out outsiders. For normal buyers these deals are tough enough without getting scammed; properties are bought without the benefit of inspections, subject to all existing liens, and without guarantees concerning the condition of the property. It’s tough out there! Click HERE to see the article in SFGate.