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Old 01-21-2009, 09:01 AM
 
180 posts, read 555,814 times
Reputation: 140

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Properties on the William's site are REO are they not? Real Estate Owned. Meaning the bank owns the property outright. It's already fully been through the foreclosure process and has a clean title. That was the impression I was under from my research. If that's not the case then I'd like to know.
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Old 01-21-2009, 09:52 AM
 
Location: Downeast, Maine
467 posts, read 1,125,011 times
Reputation: 341
Quote:
Originally Posted by kamorra2 View Post
Properties on the William's site are REO are they not? Real Estate Owned. Meaning the bank owns the property outright. It's already fully been through the foreclosure process and has a clean title. That was the impression I was under from my research. If that's not the case then I'd like to know.
My response to your post was solely based on seeing the words in your initial post When You Buy a Property at auction. You are correct that there is less risk when buying a REO property. However, you will still be at the mercy of playing by the bank's rules and anytime you see the property being sold "as is" which applies here, that should be a sign to one of the level of risk involved.
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Old 01-21-2009, 10:53 AM
 
180 posts, read 555,814 times
Reputation: 140
Oh yeah..AS-IS is scary in and of itself. I was just curious if what I thought was correct about the REO properties. I don't know anything about auctions. I was just reading up on it because it seems like a decent way to get a good price.
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Old 01-21-2009, 07:27 PM
 
Location: Northern Maine
10,428 posts, read 18,682,072 times
Reputation: 11563
There are some real bargains out there, but all will need work of some kind starting with just having the place plowed out.
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Old 02-10-2009, 11:35 AM
 
Location: Northern Maine
10,428 posts, read 18,682,072 times
Reputation: 11563
That Calais auction is over. It sold at 10 AM today.

"Bidding has ended for this item. Winning Bid $28,500.00"
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Old 02-11-2009, 12:58 PM
 
Location: Hidin' out on the Mexican border;about to move to the Canadian border
732 posts, read 1,340,874 times
Reputation: 305
Wow. Nice bargain.
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Old 02-15-2009, 07:09 AM
 
Location: Southwestern Ohio
4,112 posts, read 6,519,538 times
Reputation: 1625
wow... even if you have to plow it under, that price is great!
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