Where can I find information on houses that were to have been auctioned?

Asked by SMR, Tucson, AZ Mon Aug 18, 2008

There is a listing on Frostwood Lane that was to have been auctioned in July 08. Where can I find information regarding this home (and others) that are to be auctioned? If the houses are not bought at auction are they then listed on MLS?

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Frances Flynn…, , State College, PA
Fri Aug 29, 2008
You can find the information right here on Trulia, There is a comprehensive list of properties in Tucson and elsewhere that are available pre-auction and post-auction. Click the "Listing Preview" link to check the status of the property. In some cases, "Notice of Foreclosure Sale" have been posted in the county recorder's office. In other cases, the property is labeled REO (Real Estate Owned) when it is bank owned following the auction.

In most cases the banks assign the listings to real estate agents. Sometimes they are sold to investors in property portfolio packages. You can sign up for e-mail alerts for foreclosure properties at the top of the page.
When you see a property that meets your needs, contact a real estate professional to help you navigate the sales process. Good luck!
0 votes
Eric Crane, Agent, Mesa, AZ
Mon Aug 18, 2008
If you provide me with the property address, I can research the current status. As the other agent indicated, if the home does not sell at the foreclosure auction, then it becomes part of the bank's inventory and is typically relisted for sale as a bank-owned property (sometimes referred to as an REO). In addition to listings of bank-owned homes in the MLS, I network with a variety of wholesalers (who buy properties at the foreclosure sales on the courthouse steps). If you would like information on these properties, please let me know. Regards, Eric
Web Reference:  http://www.JustAskEric.com
0 votes
Tonje Kearney, Agent, Scottsdale, AZ
Mon Aug 18, 2008
If no one buys the home at the auction the lender buys the home back at the amount of the note on the house. Then the bank would list the house with an agent and it would be available on MLS.
Web Reference:  http://www.TeamKearney.com
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