Foreclosure in Antioch>Question Details

 Dee, Real Estate Pro in Oakland, CA

Why do I see properties listed here as SOLD, when I know they were just listed?

Asked by Dee, Oakland, CA Fri Jul 18, 2008

For example, 1889 Badger Pass Way, Antioch CA 94531 is listed as 'Sold for $247,500 on Jun 3rd, 2008'.
However, Well Fargo has just listed it on their REO site as for sale.

Help the community by answering this question:

Answers

4
BEST ANSWER
Lois:

When Wells Fargo took the home back, through the foreclosure process / auction, it shows on county records as a sale for the credit bid amount the bank made to recover this property. It has taken them approx 30 days to get the home on the market as an REO (which is about how long it usually takes, and can take as long as 60 - 90 days for some lenders). So the sold, most probably, is the sale of the home to Wells Fargo, who is now the new owner selling the home to someone like you.

Have a great Realtor check the title records to confirm this, I am in So Cal and do not have access to your title records in Contra Costa County. However, after 4.5 years of working almost exclusively with pre-foreclosure and foreclosed properties, I am pretty confident with this answer.

If you like that house, get an agent to put in an offer for you. It has been on the market since 07/01/2008. Banks like to sell quickly. So find out what a reasonable offer would be, make that offer, have your realtor negotiate hard for you and Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty
1 vote Thank Flag Link Fri Jul 18, 2008
Lois, bank-owned, pre-foreclosure & foreclosure homes all have different timelines; sometimes the bank's website may actually be behind the MLS in publishing home data. Working with an aggressive REALTOR who specializes in these types of homes in your market is your best assurance of receiving accurate data on a regular basis.

FYI, some sites have an "automatic refresh" and if the agent, rep or clerk hasn't updated status on a particular website, it still shows as active. I've seen that a lot here on Trulia--homes that sold even in 2006 still showing as for sale.
1 vote Thank Flag Link Fri Jul 18, 2008
Information through different mediums are not very consistent. For example, I've heard alot of RealtyTrac listings are old and sold, but still listed as active. Some sites, not connected to the local MLS may still stay online as for sale.

Best way to check if the house is sold or not is to check with a realtor's MLS system and/or contact the listing agent directly.
0 votes Thank Flag Link Fri Jul 18, 2008
Hello Lois,
Sometimes the house gets sold before it hit the different websites. Maybe it was a really nice house at a good price and was on the market for a few days. But, if that was the case it should have a "Pending" instead. If you have any other questions or would like to get listing before they bocome "SOLD", please log onto my website under the HomeGuide and listings can get emailed to you soon as they hit the market and we can go preview them.
Thank You,
Gala
0 votes Thank Flag Link Fri Jul 18, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer