Foreclosure Amount
On a foreclosure listing what is “written amount”?
On a forclosure listing what is the “written amount” sold with the benefit of appraisement?
For example: written amount $170,000 with the benefit of appraisement.
This home is going to be sold under sheriff sale in June. I plan to make a bid on it before the auction. How much should I offer? It is currently listed on MLS for $249,000.
Hi Lowery,
Im not sure I have ever seen it written that way before but it sounds like a minimum bid amount. The bank will have an automatic bid at the sheriffs sale for the amount owed to them. All you have to do is be the highest bidder over that amount. In rare cases (these days anytime somebody shows up to the sheriffs sale) if there is a bank rep. on hand he will have the authority to sell at a deficiency – very rare.
Best of Luck
Take Your Hidden Equity Thru Foreclosure CEPersVid-27
|
|
Creating chaos: the amount of new red tape being created in the name of foreclosure avoidance is mind-boggling.(Cover Report: Industry Trends): An article from: Mortgage Banking $9.95 This digital document is an article from Mortgage Banking, published by Mortgage Bankers Association of America on October 1, 2009. The length of the article is 3668 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Creating chaos: t… |
