Updated over 9 years ago on . Most recent reply
Auction Canceled
I found a great foreclosed property a few weeks ago that was supposed to go up for auction at the local courthouse on June 14th. The auction for this particular property was canceled at the last minute. Is there are way I can find out what is going on with it? If it is still in the foreclosure process, I am thinking about contacting the owners to see if they might be interested in a short sale. All advice is welcome, I am very much a rookie here.
Thanks
Most Popular Reply
The most common reason for a last minute cancellation is a bankruptcy filing. You can confirm this at the courts or through a title company. Chapter 13 is the most typical type of BK filed.
These owners are still worth pursuing if you understand how bankruptcies affect the sale of a property and the foreclosure process. And remember they just forked over $1500-2500 to an attorney to save their house, so keep that mind.