Foreclosure in Sammamish>Question Details

Joseph, Home Owner in Carnation, WA

I found an REO on realtytrac. The address: 23627 NE 22nd St Redmond, WA 98074. The house was occupied, much

Asked by Joseph, Carnation, WA Wed May 6, 2009

to my surprise. Can someone tell me if the house has actually been bought back from the bank. The sales history shows a sale on 6/24/08 for 302,000 but I think that was the bank taking it back at an auction. What's the deal?

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2
Joseph,

It looks like this house was bought thru a trusteed sale for the amount of $302,271. My thought is that it went to auction and someone bought the property. Because it is not in a banks name. It is in a husband and wifes name. So I am thinking they bought the house from auction.
If they bought it at the auction 302,271 may not be the only thing they paid for the property. They may have paid 302,271 there on the steps of the court house but who knows if that was for the first lien, or second lien, third lien or so on. At the auction you are buying what ever they are selling on the steps. They do not tell you if there are other liens on the property. So that is the down fall. So you have to do your homework when buying at the auction. Because you can think you bought it for 302,271 and then come to find out there is a second mortgage that still needs paid off.

I hope that helps. Please email me if you have any questions. We list a lot of properties for banks.

Thanks
Keith Zeiler
keith@tk2homes.com
Web Reference: http://www.tk2homes.com
1 vote Thank Flag Link Wed May 6, 2009
Joseph,

Call any of your local realtor to check this property status, they should know if it's sold. Most of the house information on Realtytrac is not for sale, most probably the home owner got only notice of default for missed payment.
0 votes Thank Flag Link Wed May 6, 2009
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