Home › Forums › Closed Forums › Properties or Areas › Auction for 27245 Corte Lucido, Murrieta, CA
- This topic has 51 replies, 8 voices, and was last updated 15 years, 6 months ago by snail.
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August 19, 2007 at 8:54 AM #77972August 19, 2007 at 9:23 AM #77835bsrsharmaParticipant
Sold for 327K!
Is that $125/sqft ? Good start. Towards the end, this may converge to $100/sqft.
August 19, 2007 at 9:23 AM #77958bsrsharmaParticipantSold for 327K!
Is that $125/sqft ? Good start. Towards the end, this may converge to $100/sqft.
August 19, 2007 at 9:23 AM #77982bsrsharmaParticipantSold for 327K!
Is that $125/sqft ? Good start. Towards the end, this may converge to $100/sqft.
August 19, 2007 at 9:29 AM #77841joebadubaParticipantdoes this mean that the winning bidder had to buy cash?
August 19, 2007 at 9:29 AM #77965joebadubaParticipantdoes this mean that the winning bidder had to buy cash?
August 19, 2007 at 9:29 AM #77988joebadubaParticipantdoes this mean that the winning bidder had to buy cash?
August 19, 2007 at 9:58 AM #77860gnParticipantDoes the buyer have to pay the 5% or 10% on top of the $327k to the auction company ?
August 19, 2007 at 9:58 AM #77983gnParticipantDoes the buyer have to pay the 5% or 10% on top of the $327k to the auction company ?
August 19, 2007 at 9:58 AM #78006gnParticipantDoes the buyer have to pay the 5% or 10% on top of the $327k to the auction company ?
August 19, 2007 at 10:14 AM #77868SD RealtorParticipantNo you do not have to pay cash. These auctions are different then trustee sales. Yes the buyer does have to pay 5% on top of the winning bid. So 327K is the winning bid so tack on another 16k give or take.
Remember the auction is held by representatives who basically represent the lenders. They do all they can to get the winners to finance with them. I do not believe it is a requirement for the buyers to finance with the lenders at the auction. I do not know how long the contingency periods are for any auction winners. However, I believe the contingency periods are ZERO!!! Thus if you win, you pay or you lose your deposit if you have remorse a few days later.
I know of someone who bid on a home at the June auction, and they had the winning bid. When they really inspected the home post auction they found there was water damage and to make a long story short wanted to pull out. They had a prolonged exchange for several weeks and after some very crafty negotiating by them, including some serious threats of legal action, they did indeed get the full deposit back. They really worked at it and I gave them some help.
SD Realtor
August 19, 2007 at 10:14 AM #77993SD RealtorParticipantNo you do not have to pay cash. These auctions are different then trustee sales. Yes the buyer does have to pay 5% on top of the winning bid. So 327K is the winning bid so tack on another 16k give or take.
Remember the auction is held by representatives who basically represent the lenders. They do all they can to get the winners to finance with them. I do not believe it is a requirement for the buyers to finance with the lenders at the auction. I do not know how long the contingency periods are for any auction winners. However, I believe the contingency periods are ZERO!!! Thus if you win, you pay or you lose your deposit if you have remorse a few days later.
I know of someone who bid on a home at the June auction, and they had the winning bid. When they really inspected the home post auction they found there was water damage and to make a long story short wanted to pull out. They had a prolonged exchange for several weeks and after some very crafty negotiating by them, including some serious threats of legal action, they did indeed get the full deposit back. They really worked at it and I gave them some help.
SD Realtor
August 19, 2007 at 10:14 AM #78016SD RealtorParticipantNo you do not have to pay cash. These auctions are different then trustee sales. Yes the buyer does have to pay 5% on top of the winning bid. So 327K is the winning bid so tack on another 16k give or take.
Remember the auction is held by representatives who basically represent the lenders. They do all they can to get the winners to finance with them. I do not believe it is a requirement for the buyers to finance with the lenders at the auction. I do not know how long the contingency periods are for any auction winners. However, I believe the contingency periods are ZERO!!! Thus if you win, you pay or you lose your deposit if you have remorse a few days later.
I know of someone who bid on a home at the June auction, and they had the winning bid. When they really inspected the home post auction they found there was water damage and to make a long story short wanted to pull out. They had a prolonged exchange for several weeks and after some very crafty negotiating by them, including some serious threats of legal action, they did indeed get the full deposit back. They really worked at it and I gave them some help.
SD Realtor
August 19, 2007 at 2:17 PM #78040snailParticipantIs that $125/sqft ?
Yes, or very close to it. $100/sqft is in the horizon bsrsharma, but at that point I will outbid you to $100.05/sqft.August 19, 2007 at 2:17 PM #78163snailParticipantIs that $125/sqft ?
Yes, or very close to it. $100/sqft is in the horizon bsrsharma, but at that point I will outbid you to $100.05/sqft. -
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