Property Q&A in Watsonville>Question Details

Thom, Home Buyer in Santa Cruz, CA

Does the house being sold on August 8, 2008 for $330K just represent the repossession by the bank?

Asked by Thom, Santa Cruz, CA Tue Oct 14, 2008

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Yes, that's right, US Bank bought it for $330,000 on 7/25/08, recorded on 8/8/08. Most homes sold at the trustee's sale on the courthouse steps do go back to the bank, because the opening bid is higher than the home is worth - in this case, the home is now on the market for $294,900 - that's a fair price in today's market.
0 votes Thank Flag Link Tue Oct 14, 2008
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