bid on a pre-foreclosure owe vs. BPO (auction, sales, property)

[property virgin]

[FONT=Century Gothic]We put a bid on a pre-foreclosure in Illinois (house up for auction next week) for the exact amount the seller owes to the bank my concern is that the seller owes less then the BPO of the house which is $250K. What is more important to the bank in this scenario to get what is owed by the seller and break even or try to get the actual BPO of the house?[/FONT]
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[FONT=Century Gothic]Also in traditional sell it gives a buyer a leg up if they for go inspection does the same work with Short sales?[/FONT]

[NinaN]

Every seller is different, every situation is different, every property is different. So there's no way to tell. Market value is mostly what matters because if it's at auction, then someone might out-bid you. If it's a short sale (pre-foreclosure?) and scheduled to go to auction next week, it's highly unlikely the foreclosure will be delayes. But once again, you never know.