I recently heard of an auction at the courthouse at a nearby county where one person purchases several homes a month and then sells them to a network of people/investors. He is known as the wholesaler. My question is, is this a form of bid rigging? It seems like the activity could be an agreement where investors don’t bid initially and then hold [almost] a secondary auction to buy the property from the wholesaler.
the wholesaler is doing is homework and making money - good for him/her!
So what. I’ve seen investors make deals at the courthouse with other investors. If you have the funds go ahead and put a bid in.
Gerks - I’ve gotta admit, this is a stretch, to think that this fellow is doing something illegal, or even immoral.
Unless, or course, those bidders end up being shills and never actually purchase the property. Now THAT could be a problem. Doesn’t sound like that is what you are describing.
So, yepper, that’s the old free enterprise system at work.