Foreclosed homes are generally sold at auction where investors and unethically the banks will bid up the prices. Also, transaction occurs once auction is completed. It is possible they could be sold by a “wholesaler” who bought at auction and added a couple grand for profit. Lots of ways this could go down these days especially after the last bubble/crash.
Admirable-Common-176 t1_jedutkl wrote
Reply to Are low foreclosed and pre-foreclosed house prices a scam? How is it possible for their prices to be so low? I'm planning on moving to Seattle soon and have been considering them. by illusiveconsistence
Foreclosed homes are generally sold at auction where investors and unethically the banks will bid up the prices. Also, transaction occurs once auction is completed. It is possible they could be sold by a “wholesaler” who bought at auction and added a couple grand for profit. Lots of ways this could go down these days especially after the last bubble/crash.