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Where do I find foreclosure auctions in NM?
February 17, 2013 1:31 PM   Subscribe

Where does the foreclosure auction when the title transfers from the owner to the bank actually occur and how do I get information about these auctions. I live in NM, but foreclosure auction practices in other states will probably help me figure this out. Also, does anyone have any experience to share on approaching banks regarding properties in pre-foreclosure. Finally, are there forums out there dedicated to these topics.

I have looked at a lot of foreclosed properties. These are bank-owned properties represented by a realtor. They are generally so marked up by the realtor representing the bank that there is no advantage buying these properties. Sometimes I can even find the auction price for these properties on zillow. I see that they sold at auction for 50% of the current asking price by the realtor. I cannot figure out how to get information on the foreclosure auctions in New Mexico. I've found auction.com and sites like that, but these are bank-owned properties up for auction.
posted by alcahofa to Work & Money (4 answers total)
 
Usually it's on the courthouse steps, on a certain day of the month (i.e., first Tuesday of the month). Here's a blog post of someone who went to a Bernalillo County auction a few years ago. Some municipalities have started moving them online. Apparently in Bernalillo (don't know about the rest of NM) foreclosure auctions are not run by the government but by banks/mortgage lenders/etc.
posted by katemonster at 2:55 PM on February 17, 2013


We bought ours through bidselect.com (sorry, no link,on my phone). You'll probably still need a licensed realtor to submit the actual bid, but for us that was just a formality.
posted by smuna at 4:25 PM on February 17, 2013


Usually these sales are conducted by the county sheriff's office. I would give them a call and ask for the schedule.
posted by mygoditsbob at 4:27 PM on February 17, 2013


legal notices in the local papers.
posted by k5.user at 10:55 AM on February 18, 2013


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