Other ways to buy distressed houses

Hi Guys,

Im curious … Are there any other ways to buy directly from the bank aside from short sales? For instance i went to the REDC foreclosure auction and to me that seems like a scam…

Its basically market auction theory at work… Most houses go for FMV or higher bc people tend to get whipped into frenzied bidding and think they are getting a great deal! Its why most things on ebay get bought at inflated values…

In your collectve opinion will banks just list their houses for sale and take all offers? If so, where can you find that info? I would think you have a better chance that way than being herded into a room with 3K other people in a stadium all with $$'s in their eyes thinking they are gonna miss out on the deal of the century…

In other words can someone list out the forms of distressed house buying?

  1. Do any of the “pros” on here actually attend these auctions AND if you do, do you find much value in it?.. I personally dont really see it… So, if you do i would love to hear it!

I would really appreciate it!