Iv66 - I would be happy to find out what happend with this property but I need the address in order to do so. Things are not always as they seem in real estate transactions...but then again...there are always exceptions.

If you do not feel comfortable posting the address publicly here...you can visit my website http://www.Palm-Coast-Hot-Properties.com and email me the address and I will do some research for you...perhaps someone did get an amazing deal on a property for $100.

Regards,

Kristi L. Ross PA
Hawk Beach Realty Inc.

In our state, Ohio, a home cannot be auctioned for less than 2/3 value...that is where the bidding starts.
If there is a tax lein on the home, and the county foreclosed because of backed taxes ( on a home that was paid off) YES, anyone could own the home by being the winning bidder. It would be unusual for a bank to get involved unless they were an unpaid creditor of the owner for some other reason, such as credit card debt or a car loan . Too many missing pieces of the puzzle here! You are right , we would all be doing it.

These occurences are rare. For instance....Last year
There was a condo that was up for auction for backed taxes only. None of us regular bidders caught it. We are so used to the foreclosures being from huge debt. This condo could have been had for $2,000.....and Nobody bid on it!....you can bet we were all kicking ourselves. It was put back through the process and sold weeks later for a much higher price.

Yes, that is possible... When the court sells the house, the bank that has the note will bid the Minimum $100 to secure it... The bank is just protecting it investment or loan (s) on that property.

If you go to the court house, the bank will bid up to it loan amount or a Maximum that it is willing to pay, that was great in the boom days as you would Identify homes with equity and bid against banks and other investors. If you would like to know more please contact me

The bank most likely protected thier investment, the mortgage by being the only bidder. Many people do attend foreclosure auctions and some do make great deals. It is possible that the minimum bid was set at the loan amount- so the lender prevailed at auction.