Home Buying in 70454>Question Details

rieries_sm, Both Buyer and Seller in Hammond, LA

what is the actual price of a foreclosed home that says transfer value $4888?

Asked by rieries_sm, Hammond, LA Sat Jun 30, 2012

don't understand the process.

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Amount paid for the property the last time it sold. In the case of Pre-Foreclosure and Auction properties, this amount represents the amount the owner in default paid for the property when he or she originally purchased it. In the case of REOs, this usually represents the winning bid amount at the auction and, therefore, the amount the foreclosing lender needs to recoup to break even.
0 votes Thank Flag Link Wed Nov 7, 2012
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