certain assets at a specified price in the event of an overbid
bidder's benefit in the event of an overbid. (17) These two effects
overbid than from the transaction at the initial offer price.
To get the best return on the asset, however, the court may open the sale to other bidders in an overbid" procedure.
It can make life more difficult for competing bidders by negotiating with the debtor ground rules for the overbid procedure.
* Bids after the first overbid must exceed it by specific increments.
Such overbids are either returned to the bidder or paid to the owner, but do not affect county revenue.
If redeemed during the first six months after the tax sale, the owner must pay the taxes, fees, and penalties owed plus a premium of 10 percent of the buyer's price (the minimum plus overbid, if any).
Data on the bidder, amount paid, overbid, and property type (residential, commercial, etc.) for each parcel were hand copied from county ledgers in 1988 and combined with the parcel data.
will file a motion in bankruptcy court for procedures that would allow the deal to go forward or for overbids
to be accepted by Jan.
"We have seen healthy activity in all price ranges--apartments are being snapped up and overbids
are coming once again.
, multiple bids and bidding wars, while perhaps less common than last year, are still very much with us.
Bidding wars and overbids
have been commonplace as highly compensated members of New York's corporate and high-tech elite vied for the few properties which fit their needs.
The deal is changed because someone overbids
. The deal keeps going up.
An opening bid has been accepted by the bankruptcy trustee, subject to overbid
procedures have been established by the United States Bankruptcy Court for the Southern District of California.