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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Offer on a house that is scheduled for auction Posted by LZMAN on January 29, 2010 at 9:10 AM In Reply to: Offer on a house that is scheduled for auction posted by LilyBlossom on January 28, 2010 at 11:15 PM It depends on where you are in California. In LA and OC you'll get a better deal negotiating short sales off the MLS than the auctions. In fact, the majority of auction deals in LA are selling above true retail right now("nimrods"). That being said, some lenders are more apt to discount the bids; however, waiting for a specific property is time consuming and frustrating. In answer to your questions, the chances are high that the sale will be postponed or the opening bid will be the NOS amount. You never know if someone will bid or not. : Hello everyone, : I'm located in California. I have a cash offer in on a house that is listed as a short sale, but I discovered is scheduled for auction in a few weeks. : I would try to buy it at auction if it comes to that, but the "Notice of Sale Amount" is significantly higher than the MLS listed short sale price (and thus significantly higher than I offered for the potential short sale). The price was intentionally set low to generate interest, but either way, it is still about 2/3 of what is actually owed on the house. : Will the opening bid at auction be the "Notice of Sale Amount"? : What happens if there are no bidders at that amount? : Do I have a chance of getting the house at auction for what I originally offered (or less), or is that impossible given the "Notice of Sale Amount" is the amount owed? : Thanks in advance for any thoughts on this! : Lily Follow Ups: Re: Offer on a house that is scheduled for auction Not So! 1:47 PM, 01/29/10 (8) Re: Offer on a house that is scheduled for auction jaime 9:31 PM, 01/29/10 (2) Re: Offer on a house that is scheduled for auction You're wrong again!! 3:33 PM, 02/10/10 (0) Re: Offer on a house that is scheduled for auction You're wrong! 1:18 PM, 02/10/10 (0) Go for the short sale... Alfred CA 6:03 PM, 01/29/10 (4) Re: Go for the short sale... LilyBlossom 8:16 PM, 01/29/10 (3) It's only a house to you; not your home Rick, the Probate Guy 8:35 AM, 01/30/10 (2) Re: It's only a house to you; not your home LilyBlossom 9:13 PM, 01/30/10 (1) Re: It's only a house to you; not your home watch dog 3:39 PM, 02/01/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : It depends on where you are in California. In LA and OC you'll get a better deal negotiating short sales off the MLS than the auctions. In fact, the majority of auction deals in LA are selling above true retail right now("nimrods"). That being said, some lenders are more apt to discount the bids; however, waiting for a specific property is time consuming and frustrating. In answer to your questions, the chances are high that the sale will be postponed or the opening bid will be the NOS amount. You never know if someone will bid or not. : : Hello everyone, : : I'm located in California. I have a cash offer in on a house that is listed as a short sale, but I discovered is scheduled for auction in a few weeks. : : I would try to buy it at auction if it comes to that, but the "Notice of Sale Amount" is significantly higher than the MLS listed short sale price (and thus significantly higher than I offered for the potential short sale). The price was intentionally set low to generate interest, but either way, it is still about 2/3 of what is actually owed on the house. : : Will the opening bid at auction be the "Notice of Sale Amount"? : : What happens if there are no bidders at that amount? : : Do I have a chance of getting the house at auction for what I originally offered (or less), or is that impossible given the "Notice of Sale Amount" is the amount owed? : : Thanks in advance for any thoughts on this! : : Lily [ 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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