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.
posted by alcahofa to Work & Money (4 answers total)
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.