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  • March 8, 2009 at 2:26 PM #362900
    urbanrealtor
    Participant

    [quote=Patti B]Saw your comment about “is this the first step” My question is…is this the last step. What I mean is… if the 1st is higher than it is worth and no one bids, will they auction it at another date on the courthouse steps or will it go back on the market as Bank Owned?
    The 1st on the house I am looking at is worth less than the starting bid. I will go to see the process, but should I be looking at another date on the courthouse steps or the Multiple Listing.[/quote]

    Typically the opening bid is higher than market. The lender generally expects that they will take it back. When they do take it back (99.9% of the time) they will either
    A:put it back in the MLS when they hire an agent or B:they will do a resale auction (like one of those redc auctions at the convention center) or they will
    C:leave it vacant (due either to market timing or just being too busy to deal with it)or
    D:hold on to it and rent it out (this last one is a more recent phenomenon).

    March 12, 2009 at 5:14 PM #364869
    Anonymous
    Guest

    Do you know the web site I can subscribe to for all court house sales in San Diego.
    We were at the courthouse today and had only the free listing from reconstruct.
    Good info, by the way. Thanks

    March 12, 2009 at 5:14 PM #365155
    Anonymous
    Guest

    Do you know the web site I can subscribe to for all court house sales in San Diego.
    We were at the courthouse today and had only the free listing from reconstruct.
    Good info, by the way. Thanks

    March 12, 2009 at 5:14 PM #365314
    Anonymous
    Guest

    Do you know the web site I can subscribe to for all court house sales in San Diego.
    We were at the courthouse today and had only the free listing from reconstruct.
    Good info, by the way. Thanks

    March 12, 2009 at 5:14 PM #365353
    Anonymous
    Guest

    Do you know the web site I can subscribe to for all court house sales in San Diego.
    We were at the courthouse today and had only the free listing from reconstruct.
    Good info, by the way. Thanks

    March 12, 2009 at 5:14 PM #365462
    Anonymous
    Guest

    Do you know the web site I can subscribe to for all court house sales in San Diego.
    We were at the courthouse today and had only the free listing from reconstruct.
    Good info, by the way. Thanks

    March 12, 2009 at 5:20 PM #364883
    SD Realtor
    Participant

    Good for you for going down there! How did it go? Did you see many homes get purchased by private buyers and if so where were they with respect to the opening bid?

    Next time you go please let us know. If you can jot down some of the homes that get purchased by private parties we can look them up to see what they went for in relation to the debt owed to the lender from the original recording.

    March 12, 2009 at 5:20 PM #365170
    SD Realtor
    Participant

    Good for you for going down there! How did it go? Did you see many homes get purchased by private buyers and if so where were they with respect to the opening bid?

    Next time you go please let us know. If you can jot down some of the homes that get purchased by private parties we can look them up to see what they went for in relation to the debt owed to the lender from the original recording.

    March 12, 2009 at 5:20 PM #365329
    SD Realtor
    Participant

    Good for you for going down there! How did it go? Did you see many homes get purchased by private buyers and if so where were they with respect to the opening bid?

    Next time you go please let us know. If you can jot down some of the homes that get purchased by private parties we can look them up to see what they went for in relation to the debt owed to the lender from the original recording.

    March 12, 2009 at 5:20 PM #365368
    SD Realtor
    Participant

    Good for you for going down there! How did it go? Did you see many homes get purchased by private buyers and if so where were they with respect to the opening bid?

    Next time you go please let us know. If you can jot down some of the homes that get purchased by private parties we can look them up to see what they went for in relation to the debt owed to the lender from the original recording.

    March 12, 2009 at 5:20 PM #365478
    SD Realtor
    Participant

    Good for you for going down there! How did it go? Did you see many homes get purchased by private buyers and if so where were they with respect to the opening bid?

    Next time you go please let us know. If you can jot down some of the homes that get purchased by private parties we can look them up to see what they went for in relation to the debt owed to the lender from the original recording.

    March 12, 2009 at 6:05 PM #364898
    Anonymous
    Guest

    When we left 3 homes were sold and I don’t know what happened to the last 6. The auctionere (sp) was waiting for an o.k. on them by phone. There were about 19 people there and 6 when we left.One guy paid 168. for a house. I talked to him and he said the first was 220. I looked it up. I am not in real estate. Houses around it were going for the low 400’s. I was an observer this morning who wasn’t afraid to approach people. Fortunatey some talked to me. It is a pretty tight group as you can imagine.
    One more thing…do you know where to get that list that people seemed to subscribe to. One important question I forgot to ask.

    March 12, 2009 at 6:05 PM #365185
    Anonymous
    Guest

    When we left 3 homes were sold and I don’t know what happened to the last 6. The auctionere (sp) was waiting for an o.k. on them by phone. There were about 19 people there and 6 when we left.One guy paid 168. for a house. I talked to him and he said the first was 220. I looked it up. I am not in real estate. Houses around it were going for the low 400’s. I was an observer this morning who wasn’t afraid to approach people. Fortunatey some talked to me. It is a pretty tight group as you can imagine.
    One more thing…do you know where to get that list that people seemed to subscribe to. One important question I forgot to ask.

    March 12, 2009 at 6:05 PM #365344
    Anonymous
    Guest

    When we left 3 homes were sold and I don’t know what happened to the last 6. The auctionere (sp) was waiting for an o.k. on them by phone. There were about 19 people there and 6 when we left.One guy paid 168. for a house. I talked to him and he said the first was 220. I looked it up. I am not in real estate. Houses around it were going for the low 400’s. I was an observer this morning who wasn’t afraid to approach people. Fortunatey some talked to me. It is a pretty tight group as you can imagine.
    One more thing…do you know where to get that list that people seemed to subscribe to. One important question I forgot to ask.

    March 12, 2009 at 6:05 PM #365383
    Anonymous
    Guest

    When we left 3 homes were sold and I don’t know what happened to the last 6. The auctionere (sp) was waiting for an o.k. on them by phone. There were about 19 people there and 6 when we left.One guy paid 168. for a house. I talked to him and he said the first was 220. I looked it up. I am not in real estate. Houses around it were going for the low 400’s. I was an observer this morning who wasn’t afraid to approach people. Fortunatey some talked to me. It is a pretty tight group as you can imagine.
    One more thing…do you know where to get that list that people seemed to subscribe to. One important question I forgot to ask.

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