What is the process of buying a house that is foreclosed or at an auction?

Asked by Peaceandpowerparenting, Hurd, ME Wed Sep 26, 2012

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Emily Knell, Agent, Huntington Beach, CA
Thu Sep 27, 2012
You're asking so many different types of questions on here over the past so many days, please email me directly with your situation & I can answer every possible question or concern you have. One of your first questions was "I'm short selling my house", then you're asking about 'stalling the auction date"..... It sounds to me like, if you have a Realtor, maybe they don't know what they're doing & are not able to answer the questions you have.

I am an expert in short sales, time lines, when this & how that.

I would be happy to talk to you about this some more, I don't look back on this same Trulia posting for answers after mine.


Emily S. Knell
EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Realty ONE Group
100% short sale success ratio
& I can Prove it
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Ron Thomas, Agent, Fresno, CA
Wed Sep 26, 2012
Two entirely different questions:
To buy at an AUCTION; the Trustee Sale, you will need to bring all CASH; are you prepared to do that?
The houses at the Trustee Sales usually go back to the Bank, as they offer the amount of the LOAN, which is more than you would offer.
To buy at a private AUCTION; you would need to be very, very careful; usually you do not know what you are buying, do not have the opportunity to inspect, do not know about any LIENS, and basically have no protections.
To buy a FORECLOSED house, you would need to have a Buyer's Agent, to help and protect you: The Banks are so careful about this, that they are paying that Agent's commission for you.

Good luck and may God bless
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