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These are PMI insurance claims not bank owned properties. Auction.com is in the same town as Fannie Mae. Banks have already signed off dont accept the lies on prices,they are trying to get full value. If you want your head to spin I have other reviews explaining the crap that is going on here. Do not buy anything on here without a disclosure or condition report. This acknowledges that they are aware of problems. Bid your full price well before the auction ends they will always drive the price which benefits you. Expect a phone call they will most likely reject your offer the first time b.s. move rejected mine and I bought it two months later for $1000 less saving me also $400 in taxes. Get your own closing agent will save the B.S. on the money end. The market for cash only buyers is very thin more than likely there is no one else bidding. Watch your market you no if nothing is moving why the hell would you buy. Personally I would be only be looking for a home that you intend on living in. Better days to flip will come. Many homes sold in the last few months by me where deeply discounted from asking price. Do check out my Zillow and Zillow Group reviews also. Be careful its your money too many people watch a tv show and think they can make $$ flipping ten years ago definitely, today definitely not. Watch TOL stock FNMA stock Z stock all getting crushed on rates and rising materials.
How can a company sell a loan buy back the house repair the house and sell the house to their non bank business again. First a house goes into default with low money down and most likely paid more than they could afford the house, house falls into an insurance claim PMI. Bank gets paid full value. Now Zillow gets these to dump back into the market through auction services now is trying to buy houses hires Berkshire (who is also trying to buy USG) to fix the house back up. Then Zillow sells the house buyer gets another non bank loan through Berkshire. Berkshire sells at a higher cost on the back of a bad loan deal incredible right. Is this what the Republicans had in mind by giving tax cuts to businesses at a discount. In our free market system where the wealthy control everything. And turn a blind eye to corruption.
Zillow is searching for slimy companies I believe to purchase. To buy and to dump garbage homes that were foreclosed on. Latest news about flipping homes verifies this. Auction.com and others with a auction format. These are PMI insurance claims listed as bank owned properties these companies are in the same towns as the auction companies. Zillow must be getting a special deal on these that you or I cannot get. This should be checked into. You have Berkshire trying to buy USG drywall then are they also covering up non bank losses since Berkshire is a non bank lender. Isnt this buying your own property back for less. Then making money dumping them to be bought again by Berkshire now maybe fixed up by Berkshire.
Who is Zillow working for zestimate low sellers cannot achieve there price to high buyers pass. Is no one at Zillow making sure sold properties are taken down this is terrible in lawyer or auction listed properties. I used a FSBO site to sell a property and even they did not mark the house as sold. Now the realty site made me sign a contract that I needed to contact them every ten days for updates or else my listing would be removed and they could lose their MLS license. So how is there no accountability here. Without a penalty no one seems to care. The forclosure listings are big offenders of this the banks and lawyers dont monitor their listings.
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