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Kathy, Both Buyer and Seller in San Bernardino County,...

Buying at a Hudson and Marshall Auction

Asked by Kathy, San Bernardino County, CA Fri Jan 23, 2009

Is there a percentage off the market value of a single family home that a bank will come down to on a home sold by a Hudson and Marshall auction?The bank is Wells Fargo on this particular home.Since it failed to sell at their asking price as a bank owned home they must expect to settle for less at the auction otherwise it would have sold already- right? Thanks for your input! K

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Yes, they most likely expect to sell for less that the prior listing price, but be aware, there is still a reserve price that must be met at the auction. Mkae sure you view the home and do any inspection prior to the auction. Do your homework...the auctions move fast.
Web Reference: http://www.cindihagley.com
3 votes Thank Flag Link Fri Jan 23, 2009
Cindi Hagley, Real Estate Pro in San Ramon, CA
MVP'08
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