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Updated over 5 years ago on . Most recent reply

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Sandra Smith
  • New to Real Estate
  • Pittsburgh PA
0
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4
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Home for auction that is an estate by fiduciary question

Sandra Smith
  • New to Real Estate
  • Pittsburgh PA
Posted

Hi everyone apologies for some of my questions I am new to all of this.

There is a property auction coming up.  It is taking place at the property by a real estate broker.  The owner had passed and it went through probate.  The Fiduciary is in charge of selling it and hired an agent to run the auction.  Public records show the owner took out a home mortage of $180.   That was 5 years ago.    Would it be safe to assume that the auction will start based on what he owned on his mortgage?  What kinds of things might I expect ie: does the bank show up and bid what they are owed as starting price?  Is the bank willing to take a hit generally?    Thank you.

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