The home may not be held by a bank and thus it is not an REO. The home most likely had two mortgages on it. As evidenced by the records there was an 87k purchase made at a trustee sale. That purchase was most likely made on the second mortgage. There is a first that was originated back in 2003 for 375k but it is a guess as to figure out what the balance is on that sale. The person making the purchase for 87k is more then likely someone who is not a good flipper OR it is someone who believes that they can get more then 87k back out of the deal. It all depends on what the balance of the first is.
Thus there is no deception on anyones part.
Finally, just because it went through a trustee sale does not mean that it has to be relisted. When there is a trustee sale on the first, it is pretty much a slam dunk that the home is pulled from the market and eventually relisted with someone else. When there is a second that is sold at trustee sale, it is a different situation. The first still holds sway and is not really involved in anything yet. The person or entity that bought the second can call the homeowner and let them know what went on and the same listing agent can be retained.
Honestly there is nothing wrong here. If you need any further help just post questions and I will do what I can.
