Property Q&A in Piedmont>Question Details

Adrienne, Home Buyer in Piedmont, CA

When and where will this goto auction?

Asked by Adrienne, Piedmont, CA Fri Sep 14, 2012

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This question is about this property: http://www.trulia.com/foreclosure/3077365540--Wildwood-Ave-P…

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Answers

1
IF it goes to auction, it will be the courthouse steps in Oakland. Cash only - only serious experienced investors should try this.

However ... if the listing has the logo for RealtyTrac such as this one ...

Then what you are seeing is NOT an actual listing … it is an advertisement for RealtyTrac.

RealtyTrac is a provider of data for distressed homes. This data is used by investors and Realtors to track distressed homes. When you see the RealtyTrac logo, you are not looking at a home that is actually available for you to buy: what you are seeing at is either (1) the notice of default for one of the mortgages on the property in question, (2) a notice of an impending trustee sale or (3) a notice of a completed trustee sale.

RealtyTrac notices can be very deceptive because they usually give loan amounts, not the purchase price or fair market value. When and if this particular property hits the market, it will be at market price for the neighborhood.

Bottom line: RealtyTrac is trying to get you to sign up for their service.

The following links may be helpful:

When Is The Price Not The Price?
http://bit.ly/p11iq

It’s Too Good To Be True: REALLY – Top 4 Buyer Myths
http://bit.ly/4PKTHT

If you want to know when these or similar properties will actually hit the market, have a Realtor set you up with an auto-feed that will alert you the moment they become active on the MLS.
0 votes Thank Flag Link Sat Sep 15, 2012
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