I had just written a previous post REO properties going to auction in under a weeks time on the market?
I wanted to follow it up with this post about some of the problems that you can run into with assets going on auction too fast. I dont know about everyone else but in the Okaloosa County area we are luck that our recording office does a great job getting corrected titles into their system within 2 weeks and I have seen even less time periods than that.
That is one issue you can run into if the asset has just been foreclosed on it may not have a corrected title on record and if going to auction this can cause a delay with the new title of the buyers trying to buy being able to record.
That I have ran into myself recently on an asset that went to auction within a week of being on the market.
Has anyone else run into this problem?
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Hi Brandon,
Interesting problem!
Not aware of it up in the Seattle area!
Thanks for the post
Phil
I am glad to hear it is now going on everywhere, not sure how the Foreclosure freeze will impact the Real Estate Auction scenes.