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Company Touts Online REO Auction 

Apr 21, 2009By

BankOwnedBids.com, which bills itself as “the first Michigan-based online auction of foreclosed properties,” said it had scheduled its first weeklong auction for Apr. 22. The company reported reported what it called “heavy traffic” on the property pages since its site launched earlier this month. A 2-week pre-auction period has allowed buyers time to review the listings and visit properties of interest, ranging from a four-bedroom bungalow with a starting bid of $60 to an updated four-bedroom, three-bath suburban trophy home with starting bid of $191,100.

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