Foreclosure in 03841>Question Details

vhayes217, Home Seller in 03841

what happens if a house doesn't sell at an auction?

Asked by vhayes217, 03841 Sat Sep 22, 2012

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3
Scott Godzyk’s answer
If it is a foreclosure auction, it may not sell to an investor but the bank will buy it back at the foreclosure auction therefore taking ownership once the foreclosure deed is filed. They will then assign it to an asset management company to manage the sale which will assign it to an approved listing agent to sell it.
0 votes Thank Flag Link Tue Sep 25, 2012
If you are referring to a foreclosure auction, most often banks take the property back and then list the property for sale on the MLS.
0 votes Thank Flag Link Sun Sep 23, 2012
It depends. What sort of auction are you referring to? If it's a bank auction, they'll just list the house until it's sold. If it's a secondary auction, they'll just bring it back up again for the next auction. If it's a trustee auction, it'll go back to the bank.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Sun Sep 23, 2012
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