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Foreclosure in North & East : Real Estate Advice

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Activity 2
Mon Mar 28, 2011
Dallas Texas answered:
Requires lender approval for any all sales offer however indicates the offer with highest bid could possibly be awarded an executed sales agreement

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
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Fri May 30, 2008
RoseAnne Wood answered:
Perhaps I misunderstood - I was thinking the 'last step'of the foreclosure process she asked about was the trustees sale 'auction'. That's the 'end of the foreclosure process... and those do require cashiers checks.

Auctions set up to sell off REO properties are quite different, I agree, and do not require quite as much 'due diligence' as a trustee's sale auction. But those auctions are just another way of marketing REO properties. I have not heard of any one getting a great 'deal' from those auctions either - just the opposite in fact.
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