Posted by Tom NH on April 15, 2006 at 08:48:04:
The auction ended up being cancelled. There was another one later on that afternoon right up the street from where I’m living that I went to.
The auctioneer showed up and there were 2 other investors there. That one ended up being cancelled as well, but as I was waiting for the auctioneer to get out of his car, I ended up networking with the other 2 investors that were there.
I’m adding them to my buyers list as they said if I come across anything that I want to get rid of, to give them a call. Thought it was worth going, just to meet the people there.
In a way I’m glad that second one got canceled because the people were still living there, and there was young boy standing in the door wondering what all the people were doing out in front of his house on Good Friday. I thought it was kind of sad.
But on that note, should I follow up with the home owners and see if they’d be willing to sell? I believe they owe $226K on it and there are 3 other neighboring houses that are going for $230K-$240K. Would this be too late in the foreclosure process to work a short-sale? The other thing is, I’m not sure why the auction ended up being canceled. I’m wondering if they brought the payments current or if another investor bought the property from the bank before the auction.