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What does it mean when a pre-forclosure listing says:Notice of Sale: null on x date?

I see listings that have an auction date that has passed. Yet the listing still is a pre-foreclosure. I have seen this where the property has sold the day before the auction, as well as properties where the sale is not confirmed. Does this mean the prperty was not auctioned that day or just not sold? r is it something else? Thanks from a newbie to this site.
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October 06 2013 - US
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Answers (1)

Pre-foreclosure is uncharted territory.  Not to be flippant, but there are no norms, no step by step process to follow. No concrete guidelines to refer to.

Unless it says foreclosure the current owner is in possession of the home.  There are many avenues a homeowner can take to remove their home from pre-foreclosure status and stop a foreclosure.  They have in many instances up to the day of the sale to rescue the house.

If the home goes to auction the bank will bid it in at the amount which is owed to them.  No cut rate deals.  Consumers do not usually participate in these sales and they are cash only.

Trying to buy a pre-foreclosure is like chasing moon beams. Focus on properties which are already foreclosed if you are looking for a deal.
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October 08 2013
 
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