Hi hope all is well , is it a waste of time to research auctions with tbd especially ones where it says tbd and the auction is like 2 days away? Or to just stick to ones with opening bids?
It really just depends on what the opening bid is going to be. I think the reason they show TBD is because there is a delay in finalizing things on the side of the attorneys and mortgage company. You can usually get an estimate of what it will be based on public mortgage records.
@Zach A. I heard that is true , is that a quick process ?
The delays with attorney's and mortgage companies? Depends on the situation.
Estimating starting bid based on mortgages? Depends on your skill level searching through title records. You have to look at mortgage amounts and estimate the interest rate at that time to determine what would still be owed. You also have to be able to identify second and third mortgages, etc.
You have to be careful because you don't know if the auction you're bidding on is clearing the first mortgage, or the second mortgage, etc.