Posted Addison Foreclosures for October, 2009

Addison, Texas has not been as hard hit with foreclosures as other parts of the country, but foreclosures do exist here.  The foreclosure auction is held at the county courthouse on the first Tuesday of each month.  Properties on the following streets are posted for the October 6, 2009 auction and include 2 townhomes, 1 condo, 2 single family homes, and 2 office buildings.

If you think you might be interested in purchasing a property at the foreclosure auction, I suggest that you attend the auction for a few months, learn the procedure, and do your research about any property you might want to bid on.  In Dallas County, the auctions are in the basement of the courthouse and trustees representing multiple banks sell at the same time.  It's quite an interesting process.  Only about 5% of the posted properties sell.  The rest are taken back by the banks and may eventually be listed through real estate agents.  It is usually the properties with lots of equity that sell.