Re: Realtytrac.com and REO pricing
Concerning Realtytrac......
I've had my REO properties posted on there in the past, one in particular was very aggrivating.
They posted the sales price as $81,500, this price was TOTALLY incorrect. The list price/asking price was $130,000. The house was worth about $135,000. Through research I found out that RealtyTrac posts the FORECLOSURE AUCTION proceeds on the website, that means, when a county does the appraisal of 2/3rd market value, and no one shows up that day, it will be that number.
Totally off , i had 2-3 calls on this property from RealtyTrac people asking if they could buy it for $81,500. I asked all of them why the bank would sell a $130,000 property for $81,500.....Banks aren't stupid!
|