No. The properties you see like this...no address and priced WAY low are usually priced at the amount in default on the property. You might be able to buy it for all cash without inspections and assume all back taxes and prior liens at the trustee sale...but I wouldn't recommend it for most buyers. It's unfortunate that trulia is allowing these properties to show up on the site. In my opinion, it's misleading.... more
The price of $40,250 is just an estimated loan balance on the loan that went into default. (My guess it would be the 2nd) Unless you are a full time, all cash, local Las Vegas investor, I don't recommend buying homes at the trustee sale (like the home you're asking about). If you're interested in buying a foreclosure home, you could look for a short sale or bank owned property which would be a much safer purchase because the back taxes and liens are cleared and you will have a due diligence period in which to conduct thorough inspections after you're in contract and before you've closed.
If you'd like a list of bank owned or short sale property in the Las Vegas area with pictures, addresses, maps, aerial views and more, visit: http://www.InvestInVegas.us... more