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If you watch foreclosures, as I do, you notice that banks always submit the opening bid right before it forecloses on a property. Now a buyer could attend the Trustee Sale(Auction) and overbid the bank's opening bid and win the home. You see that happening in about 3% of all forclosures for just a penny more than the opening bid. However, there is no guarranty that the title is clear, and it probably is not. Therefore, the gamble may be too great to bid at a Trustee Sale. But wait! Suppose I can track that foreclosed property through the entire foreclosure … (3 comments)
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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