Buying at the trustee sale is an investors game. Its too hard for the average Joe to find what they want, do all the legwork and get deal on a specific property for nearly all. For an owner occupier to buy a house at the trustee sale it would take the equivalent of getting struck by lightening.
I dont know whether these guys are full of it but I had a house that was an aprpoved short sale. The sellers had refied out about $500K and the bank wanted a pound of flesh (wanted divorced sellers to each sign $250K promissary notes) so they walked and declared BK. It was their only real option. There was a guy that wanted to buy it. I drove by a week ago and it was occupied despite never having been on the open market and I know the previous folks moved out. I checked the tax records and they guy who had submitted an offer was the new owner. SOmehow he was able to buy it directly from the bank. I sent him an email yesterday asking how he pulled it off. I wonder if he’ll write back.
Bottomline: The stuff these guys are selling can be done. I just dont know how or how easily.
