How do I find out about a property that has been up for auction but is not yet bank owned? I want to buy it.

Asked by Blueberry Beeton, West Bath, ME Fri Jul 16, 2010

Help the community by answering this question:

+ web reference
Web reference:

Answers

3
Steven M Dyer, , 04841
Tue Jul 20, 2010
Hi Blueberry,

I put together a weekly Distressed Property List here on the MidCoast of Maine. Most of my business is working with Buyers who are looking to purchase property that is in some state of distress. There are a number of ways to purchase property that is not yet bank owned.

If you would like to start receiving my Distressed Property List, go to my blog post below to get your copy and sign up.

I would love to help you buy that property. Contact me by cell phone at (207) 975-9330 or by e-mail at Steve@TheMidCoastGroup.com.

Blessings!!
Steven M. Dyer, CRS
Keller Williams Realty
50 Sewall St., 2nd Floor
Portland, ME 04102
207.975.9330
steve@TheMidCoastGroup.com
http://www.TheMidCoastGroup.com
0 votes
David Chiles, Other Pro, Los Angeles, CA
Fri Jul 16, 2010
Thank you for your question about a foreclosure home that is not on the market. Foreclosure Radar.com and RealtyTrac publish lien holder and trustee information, however, the best thing to do would be to contact a local agent who can contact them for you.

The Foreclosure process starts when a homeowner cannot pay the mortgage and ends when the home is resold.

The three stages of Foreclosure are: Pre-Foreclosure, Auction, and REO/Bank Owned.

Pre-Foreclosure is the time period a homeowner has to repay the delinquent amount of the mortgage.

If a homeowner does not pay the mortgage the home is auctioned

If the bids do not meet the reserve the lien holder (bank) reclaims the property and it becomes a Bank Owned REO.
0 votes
Kathy Weber, Agent, Murrieta, CA
Fri Jul 16, 2010
Blueberrry,

We utilize sites such as Foreclosure Radar and/or http://www.lpsasap.com. Some of the sites have
fee's to sign up, other's are free.

If you have a particular property in mind, County Records, which are for public access, will also provide information as to the status of the property. If it's in Notice of Default, Preforeclosure, etc.

Good luck!
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more