Why is this property listed for $1,000 as a foreclosure? If so is this property being sold for 1,000?

Asked by mmharris2009, Ponte Vedra Beach, FL Mon Feb 13, 2012

Would like more information and thank you for your time.

This question is about this property: http://www.trulia.com/foreclosure/3057329436--N-Harbor-Light…

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Antonio Vega…, Agent, Saint Cloud, FL
Mon Feb 13, 2012
Realty Trac:
Look at the posting for that home again and find the logo for Realty Trac (blue and red). Anytime you see that on any listing it means the price you see is NOT a sale price, and the home is not for sale. That is just a posting of what the Bank/Lender had to pay the courts to regaing custody of the home when they foreclosed on it. Now that Lender will take several months to put the property on the market at Market Value for the community and it will be advertised as a Foreclosure or an REO.

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Tony Vega
Charles Rutenberg Realty
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Holly Hayes, Agent, Ponte Vedra Beach, FL
Mon Feb 13, 2012
It could be listed as$ 1000 for a number of reasons, the most likely being that the HOA is foreclosing for unpaid dues and it is a minimal amount. This is happening quite frequently lately. I would be happy to further research it for you or any other properties, just let me know.
Have a great day,
Web Reference:  http://Www.thehayesteam1.com
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