Today I viewed four homes that are going to absolute auction in the next two weeks. One of the four had been cleaned and some new doors had been hung. The other three were dirty, completely out of date, the yards were not well kept and they had some rooms that needed to be completly stripped to the studs. This is my first experience with auction properties. Is this typical of aution properties? If so, no wonder the properties never sold while on the market.
One can probably assume these distressed properties are owned by distressed owners. But if so how can they let them be sold at absolute auction? If they owe money the bank will not let them sell the house at auction. These are not bank owned properties.
Please help me understand why the owner of these homes did not at least hire someone to clean the property and maintain it so that it had a chance of selling.
Another thing that was perplexing to me is all three homes were in neighborhoods of homes that had well kept yards and there was obvious evidence of pride of ownership.
I am looking forward to attending these auctions. Their listing prices are 110, 115 and 120 K. Anybody want to guess what they will bring at auction?
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