ANNAPOLIS – Through a survey of more than one thousand properties in the Mid Atlantic, Heavy Hammer and USHUD.com found that government foreclosures are routinely underpriced by 8 to 10 percent.  Reviewers based the conclusion on statistics comparing the average asking price of foreclosure homes to tax assessment values and the average sales price of comparable homes.  Heavy Hammer says little-known gaps in rules include requiring only a single appraisal and requiring acceptance of bids up to 11 percent below the asking price.

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