Property Q&A in Austin>Question Details

Aubrey, Home Buyer in Austin, TX

The property in forclosure on Sinclair avenue 78756 is listed as up for auction on 3/3/09 but it is still

Asked by Aubrey, Austin, TX Fri Apr 10, 2009

listed. I have noticed this with other properties. Are they still up for auction or not?

--
This question is about this property: http://www.trulia.com/foreclosure/2003878024--Sinclair-Ave-A…

Help the community by answering this question:

Answers

2
Aubrey,

Most of the properties that are auctioned on Super Tues as we call it are purchased by the lenders. It just depends on what agent is their REO agent. They have to go in and give an opinion for pricing , and do some clean up, and then place it on the market. Sometimes there are some times they have to make sure they have found all the dirt in the closet you might say as the buyer will be getting a title policy.
Keep watching, some of these have great prices.

Margaret
0 votes Thank Flag Link Fri Apr 10, 2009
Since Foreclosure is a complex legal process with many moving parts; often the attorneys will pull properties from the auction to address various legal issues involved or if instructed to pull the property by the lender(s) they represent. This is a very normal occurrence. The property could be placed into the next auction (the 1st Tuesday of each month) or delayed even longer (or even much longer) depending on the issues involved. Sometimes an action by the Seller causes this delay as well (such as a bankruptcy filing or a decision to short sale the property). Each situation has it's own unique circumstances. I have seen lenders take as little as 2 or 3 months to Foreclose (from the 1st missed payment) and I have seen some lenders take as long as 2.5 years (from the 1st missed payment). If you would like a free online list of Foreclosure properties in our area (with color photos); visit my website below.
0 votes Thank Flag Link Fri Apr 10, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer