What to Expect on a Foreclosesure with No Showing?

[Jack Everett McMichael]

Hi,

There is a house I have been looking at recently that is listed for auction at the moment and is insanely cheap compared to the values of homes around it. It is listed at 15,000 while the homes around it are valued from 100,000 to 130,000. It is a court ordered sale with no interior showing so I would assume something is wrong with it. However I cannot figure out what? I went to the house today, the outside looked great, some of the blinds were open and the inside seemed tidy enough. I even talked to the neighbor and they were baffled that the house was listed for that. The neighbor said no one really talked to the guy that owned the house because he seemed strange but sees no reason why it would be trashed. The neighbor was shocked to learn it was foreclosed upon.

Any advice? Thanks!

[Mary Erickson]

I actually do.  I'm dealing with foundation issues right now.  I have 3 cottages in San Diego for sale and the foundation expert quoted the buyers $100,000.00 to repair.  I had a few other experts tell me that was a low estimate.  So I'm going to just keep the properties as rentals for now, they rent very well and bring in a decent income.