What's the state of the market?

[Paul Zofsak]

Hi All, My father has a house in downtown Clarksburg that we are about to possibly "buy back" as the buyer on the seller financed loan he sold to has defaulted.  The house went up for sale at auction on the county courthouse steps today; however no one showed up to the sale our real estate lawyer posted in the local paper.  I should preface anything else by stating that we are in Texas and are doing everything remotely.  At this point we have several options that I know of; we can relist the house at auction (condition of the original contract with buyer), buy the house back, or buy the house back and sell the contract to a wholesaler/investor.  I really don't have the funds to put any type of rehab into the property and would prefer to just sell the contract if possible.   So, in the end I am trying to gauge the market in Clarksburg at the moment and see what some locals have to say on the situation.