Foreclosure in Eliot>Question Details

Dave, Home Buyer in Massachusetts

How do I find out about an auction date on a REO property in Eliot, ME found on Realtytrac? I have the

Asked by Dave, Massachusetts Sat Nov 22, 2008

address if needed. Thanks!

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Mh Solutions Inc’s answer
Hi Dave,
REO properties have already been to auction. Once the bank forecloses on a property and has an auction then it becomes an REO (Real Estate Owned). Finding the auction date at this point therefore would require looking back in time. If you're interested in putting in an offer on it, then you'll want to find the REO broker that the bank plans to use. I'd go to the public records find out who the lender is, call them and ask. They may not give you any info if you're not authorized, but they may! Also, the lender's often advertise REO's on their websites before they hit the MLS. You may need to dig a little.

Good luck!
0 votes Thank Flag Link Thu Aug 20, 2009
Dave, I find http://www.maineforeclosureleads.com to be a good sight for tracking bank-owned properties and scheduled auctions. There is a subscription cost of $9.95 per month but no contract. My Realtor is also very helpful. I did take a look for you and saw no scheduled auctions in Eliot in the near future. There are lots of great deals out there right now, especially if you are willing to buy something that needs a little work. I can certainly help you with financing if you need any or can offer my non-expert advice on locations. My family and I have been getting in to the investment side of things recently and are currently rehabilitating one property that was bank-owned. It is difficult to argue with some of the prices out there.
Web Reference: http://www.DaleDoughty.com
0 votes Thank Flag Link Wed May 20, 2009
Hi Dave,
If you have or able to get the lender's information you should contact them directly. However, usually addresses and auction dates are published weekly in the local newspaper. I hope this helps! If you have any other questions feel free to email me directly at jonathanpower@mac.com. Also if you need me to obtain the local paper for you and send it to you - let me know I have a home in Maine that will be at next week.

Jonathan Power
Licensed Massachusetts REALTOR
0 votes Thank Flag Link Sat Nov 22, 2008
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