It’s a little tough to explain in an e-mail how the foreclosure laws, deadlines and bank owned homes are listed. For the most part a home that is going to be foreclosed on by the bank is listed in the MLS prior to public auction. After the bank takes back the property the bank then lists it with a Realtor for sale. We should see everything in the MLS prior to the foreclosure or just after. The foreclosure rules/laws changed in 2008. There is no longer a redemption period after foreclosure. People used to be able to sell their home after foreclosure and payoff the bank. No more. This makes “Realty Trac “ irrelevant in Colorado. That’s where you are seeing these homes. They used to be somewhat useful before the new laws. They have always had out of date information. Realty Trac entices people with these addresses and prices so they subscribe to their lists. (rip off)
It never hurts to look everywhere we can for homes. If you see something interesting send it to me and I can look into it. Gregg Ashburn - Realtor @ RE/MAX of Boulder, Inc. 303.875.4907
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