Foreclosure in 98597>Question Details

Margaret L.…, Home Buyer in 8103 Martin Way, Lacey

several of these seem to be sold to the banks and not to public

Asked by Margaret L. Gullan, 8103 Martin Way, Lacey Tue Dec 23, 2008

This question is about this property:…

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Yes this happens when nobody offers the minimum bid. The bank will take ownership and assign the property to an asset management company who then hires a real estate broker to list the property on the mls.
0 votes Thank Flag Link Wed Feb 6, 2013
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0 votes Thank Flag Link Sat Dec 29, 2012
Hi Margaret,

When a home is foreclosed on the court sells it to the highest bidder that day. The bank/lean holder will have a representative at that sale to make a minimum bid on it and if no one bids higher. The bank buys it in the foreclose sale. The bank will then sell it on the market as a REO. This home was sold to an investor who rented it out.
0 votes Thank Flag Link Fri May 4, 2012
Here is the tax report on this property purchased by a limited liability company/partnership in Oct 2008.
It does not show on the multiple listing records so it may have been a direct sale to the buyer or
for sale by owner. The bank does not own this property.
Tax report:
Record 1 of 1

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For Property Located At
22245 Bluewater Dr SE
Yelm, WA 98597-8978
Thurston County
Owner Info:
Owner Name: 22418 Clearlake Blvd Llc County Use Code: Residential Single
Tax Billing Address: N/Avail State Use: Residences
Recording Date: 06/29/1995 Universal Land Use: SFR
Annual Tax: $1,873
Location Info:
School District: 225 Flood Zone Panel: 5301880555C
Subdivision: Clearwood Panel Date: 12/01/1982
Location Influence: Lake Flood Zone Code: C
Waterfront Influence: Lake Front Map#: 49-D5
Census Tract: 125.00 Neighborhood Code: 35E1
Carrier Route: R008 Range/Township/Section/Quarter: 3E-15N-06-NE
Tax Info:
Tax ID: 4123-00-03200 Improved Assessment: $107,000
Parcel ID: 41230003200 Total Assessment: $156,050
Tax Year: 2008 % Improv: 69%
Annual Tax: $1,873 Legal Description: Section 06 Township 15 Range 3e Quarter Se Ne Plat Clearwood Div 9 Lt 32 Document 018/029
Assessment Year: 2008 Lot Number: 32
Land Assessment: $49,050
Lot Acres: .18 Porch: Covered Porch
Lot Sq Ft: 7840.8 Garage Type: Attached Garage
Lot Shape: RC Garage Sq Ft: 348
Style: Rambler Roof Type: Gable
Building Sq Ft: 1,332 Roof Material: Asphalt Shingle
Above Gnd Sq Ft: 1332 Roof Shape: Gable
Main Area: 1332 Interior Wall: Drywall
Stories: 1 Floor Cover: Carpet
Condition: Average Foundation: Concrete
Residential Units: 1 Year Built: 1995
Bedrooms: 3 Effective Year Built: 1995
Total Baths: 2 Topography: Flat/Level
Full Baths: 2 Equipment: Dishwasher, Range Oven
Bath Fixtures: 9 Location Influence: Lake
Sewer: Septic Tank Quality: Average
Heat Type: Forced Air
Last Market Sale:
Recording Date: 06/29/1995 Deed Type: Warranty Deed
Settle Date: 06/27/1995 Owner Name: 22418 Clearlake Blvd Llc
Sale Price: $93,000 Seller: Paigen Ronald
Auditor No: 9506290094
Sales History:
Recording Date: 10/31/2008 07/30/2008 08/17/1999
Sale Price: $100,200
Nominal: Y Y
Buyer Name: 22418 Clearlake Blvd Llc Boyal Kulwinder Briggs Nancy A Va
Seller Name: Boyal Kulwinder Quality Loan Svc Corp Of Wa Department Of Va Nationsbanc Mtg Corp
Document No: 4043633 4026621 3249398
Auditor No: Quit Claim Deed Trustee's Deed Warranty Deed Assignment Deed
Hist Document No: 506532 705562 272135 263145
Mortgage History:
Mortgage Date: 08/17/1999 06/29/1995 04/11/1995
Mortgage Amt: $98,000 $94,850 $65,000
Mortgage Lender: Meritage Mtg Corp Heritage Svgs Bk Fsb Lender Private Party
Mortgage Type: Conventional Va Private Party Lender

Record 1 of 1
0 votes Thank Flag Link Tue Dec 23, 2008
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