Also, the bank is NOT going to sell it for 4000.00 or so. This may be back dues owed to an HOA, for example.
The bank will usually have 3 BPO's done. Which are basically comps by 3 different agents and then the bank will usually average out the price. Then the bank will have to go through the steps to hire an agent and put it on the market. This could/may take a few months.
If you have an exact address I can research this house for you.
Without all of the pertinent information, it is hard to help you go forward with this, or any others.
Trans-Action Realty 500
6121 Lakeside DR. #100
Reno, NV 89511
RE/MAX Realty Affiliates
1320 Hwy 395
Gardnerville, NV 89410
There are two kinds of AUCTIONS on houses;
The Trustee Sale, which is the last step to forclosure, and,
Independent Auctions; which are used by some to sell houses that they have not been able to sell any other way.
Does the phrase "Caviat Emptor" conjur any ideas for you?