Quote:
Originally Posted by Cedwards38
Ouch, that would sure put a crimp in the 60-90 day flip plan wouldn't it, unless you catch one right at the end of this process. Do they eventually reach an auction step?
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I've never seen a house go to auction. Usually "normal" Purchasers lose patience with the process and move on. Eventually the Bank reaches a low enough list price that a patient flipper will buy it, do some renovations themselves, and make some money. Some houses are in decent shape, although neglected. All houses are sold "as is" with no warranties or building inspections. I've seen a lot of houses where owners were so angry when they were evicted, that they pulled out the light fixtures and the sinks and toilets and punched holes in the walls. It's a sad business.
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