Mortgagee Sales-Auctions????

[anisavvu]

Hi, I have heard a lot that now a days there are a lot of repossessions and as a result mortgagee sales/auctions.

Though it is a sad story that these things are happening, but often the properties sold by the mortgagee's are sold at a bargain price.

I there any website or publication from where one can know in advance which repossessed properties are being sold and auctioned so that one can keep an eye out for them.

Your inputs will be appreciated.

Regards,

Sanjeev

 

[terrence]

I think there have been numerous threads on this subject.
http://www.somersoft.com/forums/showthread.php?t=40336

 

[buzzlightyear]

Hi, I have heard a lot that now a days there are a lot of repossessions and as a result mortgagee sales/auctions.

Though it is a sad story that these things are happening, but often the properties sold by the mortgagee's are sold at a bargain price.

I there any website or publication from where one can know in advance which repossessed properties are being sold and auctioned so that one can keep an eye out for them.

Your inputs will be appreciated.

Regards,

Sanjeev

In many cases you won't know whether the property is a mortgagee's sale. Its not always publicised. Although, they will always go to auction so sometimes that is a give away eg agents won't accept any bids before auction..

They are advertised like any other property.

As for the amount of reposessions, the % increase is substantial, but its still off a pretty low base.

 

[skater]

Hi, I have heard a lot that now a days there are a lot of repossessions and as a result mortgagee sales/auctions.

Been reading American literature have we??

Some will sell at a low price, some will sell at a high price. Just like any other auction. You can get a bargain if you are in the right place at the right time ie : nobody else decided to show up & there is a low reserve.