OfflineIm looking at homes in the REO section of realty trac and i came across one that says the address and $42,000... Looking at the detail page it says
Foreclosing Loan Information
Transfer date- 12/6/2007
Transfer value- $42,000
Does this mean this house is forsale through the bank for $42,000??? This is a 2900 sq. ft. home with an appraisal of 200,000...
Thanks
Shaun
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No, it doesn't mean the property is for sale for 42,000. The transfer date and transfer value is when the lender took ownership of the property. The lender was high bidder at the auction. Most generally the lender will put the property on the mkt with a real estate agent for mkt value. Have you checked to see if the property is currently on the mkt?
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