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Updated about 5 years ago,

User Stats

53
Posts
7
Votes
Collin Emerson Miller
  • Investor
7
Votes |
53
Posts

Buy a $368,854 condo for $40,784.25 on auction?

Collin Emerson Miller
  • Investor
Posted

Hey BP community!  I wanted to get some opinions on a property for sale on an auction:

Here are the property specs:

Zestimate: $368,854

2 beds 3 baths 10,60 sqft

Location: Duarte, CA

The amount of secured indebtedness with interest and costs is
$ 40,784.25
(Amount subject to revision)

This seems too good to be true... buy a $350,000 condo for $40,784.25?  What am I missing here?  Are there any extra payments I should be aware of?  I have never bought a foreclosure before so I don't know if this is normal or not.  If you need more info, let me know.

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