Anyone ever buy a foreclosed home at an auction?

**Iowanian** · 03-16-2008, 10:30 AM

Watch out for the reasons above....definitely pay for a title search beforehand.

If you're patient, and wait to see if it won't sell for their price floor....wait and you'll get it cheaper.

We tried to buy a home last summer in limbo of being forclosed on for a goingoutofmarriage sale. My fair offer was laughed at.....and I'd have paid about 10k more with the counter I expected.

After it was a no-sale at the auction due to the debt against it.....another guy bought the house for $15k less than my first offer.

They'll(bank) might take a pretty savage beating once its on their books, to get rid of it, especially with all of the homes going back.

03-16-2008, 10:30 AM	#13
Iowanian Supporter Join Date: Aug 2000 Location: Utopia Casino cash: $1678454	Watch out for the reasons above....definitely pay for a title search beforehand. If you're patient, and wait to see if it won't sell for their price floor....wait and you'll get it cheaper. We tried to buy a home last summer in limbo of being forclosed on for a goingoutofmarriage sale. My fair offer was laughed at.....and I'd have paid about 10k more with the counter I expected. After it was a no-sale at the auction due to the debt against it.....another guy bought the house for $15k less than my first offer. They'll(bank) might take a pretty savage beating once its on their books, to get rid of it, especially with all of the homes going back.
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