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Updated over 8 years ago on . Most recent reply

Diane G.'s profile image
Diane G.'s profile image
Diane G.
  • from CA
  • Member since Dec 24, 2016
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Diane G.'s profile image
Diane G.'s profile image
Diane G.
  • from CA
  • Member since Dec 24, 2016
Connect
Diane G.
  • CA
1,059
Votes |
1,320
Posts
Buying & Selling Real Estate

I dont understand this Auction listing

Diane G.
  • CA
Posted

Please help me understand this auction listing - the property would be worth close to $1M on open market. The current owner bought long time ago and has only $400K in mortgage.. And it is being listed at $400K... Apparently, bank just wants to take back what it is owed.... But why would the owner let a $1M property go for $400K? Why did he not sell it on the open market himself?

2nd question - how do you run a title search PRIOR to bidding? 

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