An auction and then an auction?

Last Saturday, I attended a live auction on the driveway of a little Larchmont home. The place was packed with bidders and spectators. The bidding goes very quickly and a neighbor ended up being the highest bidder at $1,210,000. He is now on to probate court in about 45 days to confirm the sale. Overbidders are welcome with bids starting at $1,260,500 and will go up in increments set by the judge. (I bought my house in probate court!) Some photos from the MLS. Home was originally listed at $825k (too low) and the owner died in the home.

Read more in my blog about probate here.

MLS description: This Probate Sale is subject to Court Confirmation and Overbid. Asking price is the first minimum overbid at court. If interested, you may attend the court confirmation hearing to submit a bid. The court location and date are still TBD. The property is offered for all cash and is an "as is" sale. No financing contingencies. No Sale prior to court date. All other Terms and Conditions will still apply. See private remarks. This Home features 2 bedrooms and 1 baths (+/- 1,156 sq. ft.) The lot size is 5,600 sq. Listed by Kennedy Wilson