Foreclosure Auction: Is It Always a Good Deal?

[EMPIRE0FLIES]

Gold is the money of kings. Silver is the money of gentlemen. Barter is the money of pesants. Debt is the money of slaves.

[Txsray]

Of course. Where there is money, there is corruption and dirty tricks on all sides.

[EMPIRE0FLIES]

Fannie and Freddie own all the homes and DO NOT have to sell anything because we the people gave them a blank check. Just wait til the dollar collapses. You wont be able to give them away. What a scam.

[Txsray]

@EMPIRE0FLIES

Right you are. The whole concept of home-buying has become a big scam. The buyer can maintain all the obligations he agreed to and yet still, through no fault of his own, find his loan called in and subsequently lose everything. It's a way of robbing the middle class.

[enrpllment]

This video makes no sense. Once the bank gives it to a real estate office thats when the price goes up!! How can you say the auction was fixed when you don't know. How stupid, you think the people bidding were from the auction company. These auction's have a reserve that if not meet the seller doesn't have to sell. If you didn't know that you shouldn't be selling real estate. I f you do know did than you are a liar in either case you shouldn't sell real estate.

[76realty]

Conclusion is a lie, "If you wait till it comes on the market, you're going to get a better price." This is only sometimes the case. If a bank pays $100k at auction, the bank then incurs a lot of expense (commission, appraisal, winterization, etc.) so it is less likely to sell for less when it cost is significantly higher than that. It just depends on the deal. You must know the value, and that is where the realtors can help.