Now that the power is turned off, the pump in the basement can't dispose of the accumulating water which will eventually inundate the basement again.

The national banks are more likely to use a large corporate to dispose of properties across the country (brokerage or the large company buying the portfolio).

If they have a lot to sell and are facing pressure (economic or regulatory) then they will also look to dispose of property in bulk.

Regulated lenders (banks, etc) legally have to dispose of their REOs and a minimum price is not required.

Most big property management Companies use cheap disposable camera's.

If nobody else bids, the lender is stuck with the property, and the owner gets nothing.Now, the lender has to dispose of it.

I look for banks or portfolio owners interested in disposing properties here in Silicon Valley one by one.

It seems like a good way to dispose of property that may not be selling.

If it has already been foreclosed on and is now a REO then what matters is how much the bank wants to dispose of the property.

As prices continue to soften, there will be better conditions for buyers and more sellers will wish they had been able to dispose of the property in 2013.There was an auction held recently where the Seller walked away with a loss over $3 Million amerikana dollars on 3 high end properties.