Updated about 12 years ago on . Most recent reply
Beacon Sales info
I am researching a home I may bid on, and when I look it up on Beacon (Indiana) the recent sales price of the bank foreclosure shows up.
I'm not sure what this number means. Is this the number the bank was owed on the mtg at the time of foreclosure so that is what they had to "pay" at sherrif sale to buy the property back? I'm not sure if this number has any relevance at all but its worth asking.
In my eyes the property is worth what its worth, but if this is the amount the bank is into the property maybe it can help in my negotiating a price. The property in question is distressed, bank wants 61k, ARV is 125k-135k. So I was caught off guard when I seen such a small sales amount.
Quite often I see this number considerably high than the asking price, I have bought properties in the 30k range and seen this number around 100k.
So if anyone knows exactly what this number represents I would appreciate the info.