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  • tkkj
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When buying a foreclosure or REO property..

Can you make an offer below the price that bank is selling for?  How does purchasing in a auction work?  Do you preview the house before and make a bid in the auction (minimum of bank owed amount?).  I am looking at the list of Realtytrac.com and about P, A, B properties, how or who can I contact regarding the property to find more info about auctions, condition and etc?

Also the listed price in Realtytrac.com, is that the absolute minimum you need to offer for a bid?

 

Thank you...

  • January 29 2008 - US
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Answers (2)

First thing you shoud do is get pre approved from a lender, if you haven't already.

Jim

  • January 29 2008
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tkkj, it depends on what state you are in.  The foreclosure process is different everywhere. 

  • January 30 2008
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