first time buyer: REO Silent Auction - 05/01/11 12:13 AM
Why do some REO (real estate code for bank owned) properties come on the market at a list price that actually seems too low?  In my opinion the seller / broker is trying to move the property quickly by creating a silent auction.
What is a silent auction?
An auction that is conducted by submitting bids in sealed envelopes before the sale.
How does this work with real estate?
The low list price generates a lot of buyer activity.  Potential buyers are watching the Internet sites and getting alerts from their Realtors that a new listing is available.  In some cases … (2 comments)

David Wallner (Prudential Snyder and Company, Realtors)

David Wallner

Ann Arbor, MI

More about me…

Prudential Snyder and Company, Realtors

Address: 2655 Plymouth Road, Ann Arbor, MI, 48105

Office: (734) 747-7500

Mobile: (734) 649-2710



RSS 2.0 Feed for this blog