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Tmillercsr, Other/Just Looking in Garden Grove, CA

what happens to a property if it does not sell at an auction?

Asked by Tmillercsr, Garden Grove, CA Mon Nov 9, 2009

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Kawain Payne, Realtor, Notary’s answer
If the property does not sale at the auction it reverts back to the bank. The bank will then have their assest management company assign the listing to an agent and the property is placed on the market as an REO.

At this point a buyer can have their agent submitt an offer to purchase the property.

Kawain Payne, Realtor
Prudential Realty
KawaindPayne@gmail.com
0 votes Thank Flag Link Mon Mar 19, 2012
If the property does not sell at auction, the bank will sell the property either through the MLS or in bulk to investors, depending on the market conditions.
0 votes Thank Flag Link Mon Nov 9, 2009
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