Foreclosures In Houston? (Center, Howe: bank owned, for sale, house)

[misterno]

I am trying to get more info about this. I know as a fact that all auctions are held on 1115 congress street every first tuesday of the month.

My questions are

1)what happens if the property can not be sold in the auction?

2)Where can we get a free copy of the listings? Do they hang a list on the wall in the court before the auction day?

3) Is it possible to buy a forecloseure before the auction say if it is from the bank? Is it possible to ask banks if they have a list of foreclosures and try to get it that way?

[tele]

have you gotten the reply to this questions especially your 3rd Q, about if the banks have a list of there forclosed properties.

[westres1]

Do not pay for a list. This is just a scam. A realtor can provide you with a list of foreclosures at no cost.

[AlexTx]

I thought some of the auctions took place in front of the property in question, am I on crack? Maybe I'm thinking of the signs they will put in front of a house that notify you of the auction...I've only seen one once.

I'm curious how it is decided which properties are auctioned and which are sold the normal way, through a realtor,etc.

Sorry, I'm not much help.

[westres1]

Most foreclosures are really auctions. If the bank does not like the offer they sit on it until more come in and pick the best. The price on MLS is typically low to entice multiple offers. However, it is not the type of Auction misterno is referring to on Congress street.

[cjester]

Here is some helpful info about the auctions that are held on 1115 congress St. Family law center every first Tuesday of the month.

1) If the property is not sold at the auction it goes back to the bank, then the bank tries to sell it in the market.

2) The listing of the properties are all hanging on the side of the walls in the lobby of the Family Law center. There are pages and pages of them it's impossible to sift thru them, so it's better to buy the list sold in the underground of the Law center or buy it online for $45.

3) No. The bank cannot sell it to you before it the property is foreclosed because the property is still owned by the home owner.

As far as I know, the realtor can only provide you with a list of bank owned foreclosures (properties that were not sold at the auction and reverted to the bank, but not the properties that are up for sale at the Family Law Center)