non-bank owned homes in auction

[Javier S.]

Hi,

I am fairly new to all this. I was looking at properties on auction.com and noticed that there were homes that were non-bank owned. So I am assuming these properties are not in distress (foreclosure, REO, short sale), so what would be the motivation of selling a property in the web site (or what would be a buyer's motivation to buy such a property instead of just buying a non-auction property which can be inspected)?

Thanks,

Javier

[Wayne Brooks]

auction.com has has two types of Non REO properties; auction.com serves as the foreclosure trustee in some locations that have non judicial foreclosures. Also, some banks will run a portion of proposed short sales thru auction.com looking to "verify" the price. A high bidder on these simply goes into contract on a short sale.