We are very interested in the property. How is it so cheap?

Asked by Evan, Everett, WA Mon Apr 27, 2009

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This question is about this property: http://www.trulia.com/foreclosure/2003968653--151st-St-SE-Mi…

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4
Morrie Tacher, Agent, Mill Creek, WA
Mon Apr 27, 2009
Evan: You have received 3 very good answers to your question. I would just add that if you are wanted to buy a destressed property that you make contact with an agent who knows the process in putting together the correct paperwork to make the transaction run as smooth as possible. As Dana said the process can be tricky
0 votes
SeattleHome.…, Agent, Seattle, WA
Mon Apr 27, 2009
I second Courtney's opinion - foreclosure notices are great, but these need to be listed in a different way. These "estimates of bids" show up looking like a price, and they don't help out buyers or sellers.

Evan, have a good buyer's agent work with you to find bank-owned homes and short sales that fit your needs. They'll be able to wade through these kinds of listings quickly and tell you which ones are actually available to you.
Web Reference:  http://SeattleHome.com
0 votes
Courtney Coo…, Agent, Seattle, WA
Mon Apr 27, 2009
Hi Evan -
This is not the price. The house is not listed and it is only a notice of foreclosure - may not ever go to auction. The auction is set up in May and will be held at the county. Most likely th ebank will purchase it and then list it in the MLS which is what usually happens (although these days things are a little different). The "price" listed is just an estimate and I can tell you that it is extremley low and not realistic for what this house will most likely end up selling for. I actually wish these weren't listed here because they can be confusing for the consumer and a bit misleading (in my opinion):))
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Dana Schuster, Agent, Slidell, LA
Mon Apr 27, 2009
This is not a listing,it is a Realty Trac posting of a notice of foreclosure. Realty Trac & other similar sites publish notices of default & foreclosure from the public records. They are not authorized to list properties. if and when this house does foreclose it will be listed at market value which will be determined atr that time. If you are interested in purchasing a foreclosure,i suggest you contact a local agent who can help you work through this tricky process and also advise you of available properties.
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