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Notes -
I’ve got family in the foreclosure business and can confirm that there is a significant discount. Plus significant additional labor in ejection or making use of the property, which is the whole reason the state outsourced to the private market.
I was also thinking about an extreme case where the state forecloses based on a small fraction of the property’s value. If the state got it for (hypothetical) $1, there’s no reason they should have to play realtor only to hand a surplus back to the previous owner.
So yes, I’m fairly convinced at this point.
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