Using the web site for OCC, etc, there were some SSR's forecloses I wanted to bid (as the market is in the $80's per point, I was going to bid no more than $$50-$60?!?!?!). Those that are not familiar with the process, you have to determine the points by looking at the original deed and tie the numbers together with the foreclosure. Well ....................... after getting out bid and out bid on other lots, I got down tho the lot I really wanted. I bid and bid and the price kept going up with the proxy bid until I bid up to $10,000. The bid then moved to something like $10,098.12. I knew if I bid $10,100 the prize was mine. As I was waiting for the answer of ROFR on my resale contract (which Disney did buy), I decided to watch the clock of the auction run out without bidding again. I was sick until ......................... I re-looked at the deed associated with the foreclosure lot. I had transposed a contract number as it related to the foreclosure listing and instead of a SSR 200 point contract, it was SSR but ONLY 60 points. I almost became physically ill knowing what just about happened. If I had bid that extra $100, I would have paid over $168 per point for SSR, however, our friends at DVD "paid" that amount. With all these variables, I am out of the foreclosure business.
Bill
