Drop Bidding in [1] Arizona is illegal! Apparently there is a disturbing trend in the [2] Phoenix, Arizona [3] real estate market known as “drop [4] bidding” on the [5] properties being put up for [6] auction. I’ve provided a link for the reader’s further enlightenment; however, “as usual” those that choose to stretch the boundaries of truth are finding other ways to cheat others out of purchasing these homes.

In a nut shell, a drop bid is a tactic used to sell a property faster. Though this practice is legal in some states, drop bids are illegal in Arizona.  Arizona [7] law requires that opening bids on the [8] foreclosure properties are to be posted at 9:00 a.m. the day before the auctions. This is so all potential bidders, including the homeowner, have the information in time to research a property and line up the money to bid. [[9] The Arizona Republic - 11/22/2009, p. A20]

The drop bid is happening on the courthouse steps the day of the auction. It appears as though a few “insiders” are the ones privy to this information and, thus, are able to grab the deals before the regular [10] folk can even have a chance!

I cannot even believe how corrupt our country has become! Everywhere I turn, there’s another story of thievery and greed! What is to become of our world if this continues?

[11]