Lake Martin Topics: House for Auction

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	Name:	slownez -
	Subject:	House for Auction
	Date:	9/3/2008 8:59:44 AM

I went by for the open house on Saturday to take a look with my contractor. The broker on duty was nice but couldn't or wouldn't answer many questions. The opening bid is $159k, but I believe the reserve bid is going to be closer to $300k. Plus you have to pay the auction company an additional 5% on your winning bid. My contractor estimated about $40k in needed improvements beyond the selling price. The house was foreclosed on by Countrywide and soon as you go to the auction site for more info, within minutes you get a call from Countrywide wanting to pre-qualify you for the amount you plan to bid. If you add the up the reserve bid price with needed improvement cost, there are probably better deals on the lake.

Other messages in this thread:

View Entire Thread

House for Auction - Freshwater Bay Girl - 9/3/2008 7:56:08 AM

House for Auction - slownez - 9/3/2008 8:59:44 AM

street address? website? - John C - 9/3/2008 1:42:58 PM

House for Auction - Kizma Anuice - 9/3/2008 2:34:21 PM

House for Auction - slownez - 9/3/2008 3:49:40 PM

House for Auction - Freshwater Bay Girl - 9/3/2008 6:23:48 PM

House for Auction - Kizma Anuice - 9/3/2008 6:34:17 PM

House for Auction - JohnGalt - 9/3/2008 7:29:01 PM

House for Auction - Lady - 9/3/2008 8:05:58 PM

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