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Foreclosures

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Alex R.
  • Bakersfield, CA
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128
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Confusion about foreclosed properties VS REO properties!

Alex R.
  • Bakersfield, CA
Posted Jan 26 2013, 23:10

There are some websites that list properties for sale as Foreclosure.

Meanwhile I read that:

Foreclosures are NOT sold by Realtors. Foreclosure properties are auctioned at a Trustee Sale at the Court House in the County where the property resides. Foreclosure properties must be paid for in full, with a cashiers check at the time of the auction

Aren’t they supposed to be auctioned off at a court house and not in a website?

Or are they actually REO properties that are mistakenly listed as foreclosure?

Here is an example:

http://www.ziprealty.com/property/406-MCKELVEY-AVE-BAKERSFIELD-CA-93308/4914299/detail

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