All topics related to general real estate.

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By RBarreto
#1110 Hope everyone is having a great week!
I had a question about the homes that are sold back to the bank for $100 at the auctions when no one bids on them. What happens to the home? Is it relisted or sold in the future at a lower price or does the bank hold on until they get what they are asking for, because we know banks are horrible at maintaining homes :biglaugh

Happy Investing!
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By RyanPal
#1112 Goes back to the bank and listed as REO (real estate owned). They will list with an agent and try to get as much as they can for the property to recoup their investment... at a price of what the market will bare.