I made an offer to the bank who owned a foreclosure when it was still on the MLS. I am very familiar with this home, the past owners, and the condition of the property. The property consists of 1.15 acres and all but 8 ft of the property are in the front of the house. Yes, the property line extends 8 ft from the back of the house. Basically - NO back yard. Not a problem for me as I want to rent it out. The county property records indicate that the house has two buildings. That is not accurate as the owner removed the metal building leaving a large foundation big enough for a basketball court. The property records will not reflect the change until next year. Additionally, some states, like Alabama, have a right of redemption. In Alabama it's one year. The owners of this house have until May of 2016 to "reclaim it" if they have the money. My last counter offer was not accepted by the bank (cash, no inspection, quick closing). Now this home is on Auction.com. The home as listed on auction.com says it has 23.4 acres, and the pictures of the surroundings in the back yard are actually not in the back yard. It's the neighbors acreage. I have sent their supposed "customer service" information about their "errors" of this listing but obviously, nothing has been done. So - this listing is pretty much full of deception. I happen to have done my due diligence and also contacted the county regarding the property lines and the fact that there were NOT two buildings on the property. The records have not yet been updated indicating only one building (the house). My point:
Better check out the property IN PERSON and please check out the information that auction.com has on the listing. Additionally - you better check out the "redemption" period for your state. Of course, no mention of THAT on their listing either. Most people do not want to deal with the uncertainties of the redemption period. So some schlep will be bidding on a property that looks good in the pics, property records say it has two buildings, and just look at that back yard - it has 23.4 acres! Oh - and the house does not have clear title because the owner can reclaim it until May 2016!