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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Post-sale buying from HUD Posted by Ward-CA- on February 25, 2002 at 3:55 PM In Reply to: after the auction posted by Nicki on February 25, 2002 at 1:23 PM : I am just beginning to look at the foreclosure process, and I was wondering what happens to the houses that don't sell at the auctions. I've been browsing around the net looking at foreclosures by the realtor or hud. Is it worth buying a house at that point (post-foreclosure?) are you still bidding or is the price listed the asking price? Thank you for your time =•=•=•=•=•=•=•=•=•=•= Nicki, whether or not an outside bidder attends a foreclosure sale the property is almost always sold. Absent any outside bidders, the lender’s opening bid will be the highest and so the trustee will delilver title to the lender. HUD sales are usually sold pretty close to retail in a seller’s market. HUD prices their inventory to with a user in mind, not an investor. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I am just beginning to look at the foreclosure process, and I was wondering what happens to the houses that don't sell at the auctions. I've been browsing around the net looking at foreclosures by the realtor or hud. Is it worth buying a house at that point (post-foreclosure?) are you still bidding or is the price listed the asking price? Thank you for your time : =•=•=•=•=•=•=•=•=•=•= : Nicki, whether or not an outside bidder attends a foreclosure sale the property is almost always sold. Absent any outside bidders, the lender’s opening bid will be the highest and so the trustee will delilver title to the lender. : HUD sales are usually sold pretty close to retail in a seller’s market. HUD prices their inventory to with a user in mind, not an investor. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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