Sorry, IFL and their advisors set the reserve at $5 that the property will be sold. $5 was not the ceiling but the floor if you read the announcement. I haven't seen you post til today so your lack of understanding shows.
They also set the deadline when bid/offers are due as well. That being said they can not bid as well but what announced. Not sure is what penalties in the deed/contract for failing to notify not bidding at min of $5 or walking away within 4-6 week window.
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