Property Q&A in Sterling>Question Details

Andrea Taylor, Home Buyer in Leesburg, VA

is this an active foreclosure?

Asked by Andrea Taylor, Leesburg, VA Sat May 5, 2012

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This question is about this property: http://www.trulia.com/foreclosure/3081732758--N-Kennedy-Rd-S…

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Notice of Sale. This property is scheduled for a public foreclosure auction. A public foreclosure auction is scheduled when a homeowner in default does not stop foreclosure proceedings within a certain timeframe determined by state statute. Properties are typically auctioned in a public location, such as the local county courthouse, by an attorney or local public official. Auctions can be great opportunities to buy property below market value, but usually dont allow for property inspections and often require full or partial payment in cash depending on the auction process in your area. Please register for a free trial with RealtyTrac to access complete information for this property, including full address, auction details, owner, trustee and lender information, and more.


This property is being advertised, as per law; notice of an upcoming Foreclosure Sale. If the property is not purchased at auction the new owner; the Bank will most likely make this property availble for sale again. As Banks are not in the Real Estate business per say, they will most likely try to sell the asset so they can use the cash to reinvest, ie lend it out with interest. The answer to your question is No, this is not an active foreclosure, but is in the process of being foreclosed on and offered for sale at the Loudoun County Court House.

Auction (Notice of Trustee Sale or Notice of Foreclosure Sale):
A public foreclosure auction (NTS, NFS) occurs when a homeowner in default does not stop foreclosure proceedings during the pre-foreclosure period. Properties are typically auctioned off in a public location — such as a local county courthouse — by an attorney or local public official. Auctions can present opportunities to buy properties below market value, but usually don't allow for property inspections and often require that buyers pay in cash — typically in the form of cashiers checks. Up until the auction occurs, however, buyers may still have an opportunity to buy directly from the homeowner in default via short sale or regular sale.
0 votes Thank Flag Link Fri Aug 3, 2012
Hi Andrea,
Currently there is only one property available for sale on that street and it is not a foreclosure. Are you looking for a home that has been foreclosed on? I can provide you listings that meet your criteria. Please contact me so we can get started!
0 votes Thank Flag Link Sat May 5, 2012
Yes, there are currently 7 active foreclosures in Sterling, VA ranging in price from $159,000 to $570,300.

Roger
0 votes Thank Flag Link Sat May 5, 2012
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