Homesearch Auction Property now on MLS

[Lance Korsun]

Hey everyone, I'm hoping to get insight on a few things. I've been watching a property on Homesearch.com. I've done my research on this forum on that website, so I think I have a good grasp on it. The property I am watching is on auction but the auction expires today. Like everyone said, I've seen what looks to be a straw bid in increment of $10,000. The property is extremely low on the auction site, reserve not met.  My assumption was that this would turn up in another auction -- as that seems to be the way homesearch.com does things.

Well, this morning, in one of those auto MLS listings emails -- opened it up and sure enough the property was in this email. The price was basically doubled in that email.

I'm a new guy in the foreclosure area -- so I'm not sure what to make of this. With the auction ending today, does this mean the bank has decided to list it traditionally and I shouldn't expect to see it again on auction?

Further -- I checked with the county the property is in -- and they don't show it on their website as being sold as a foreclosure.  Confused -- would appreciate the guidance.

Thanks!

[William Allen]

Agree with @Wayne Brooks 

Most of the houses I have researched on home search.com were already on the MLS. In fact, I tried to pick one up directly off the MLS but they took it to auction instead of accepting my offer. I was able to get it from the auction website significantly lower than my original offer.