Marin County ‘Auction’ homes are typically for sale on the County Courthouse steps. To buy at auction, a Buyer must be 100% CASH, give certified funds at the time of sale and be prepared to close escrow on the home immediately. Most sauction homes are not available for viewings, so are often bought without an interior viewing. The other risk factor to consider is that there won’t be any disclosures or reports on these homes. You may be buying into a defective property needing extensive repairs in order to be habitable, or find out you have inherited sitting tenants OR Owners with rights to stay in the property. The minimum bid that is set by the Bank is often higher than the actual market value of a home. It is also extremely common for homes to be removed from the sale list on the day of the Auction for different reasons. All ‘Auction’ homes are 100% ‘As-Is’ without any warranty or recourse.
Marin County ‘Bank Owned’ or ‘REO’ homes are often not available today for purchase even though the details show up on various websites. These homes have been foreclosed and the Banks have taken back possession of the home from the Seller. It can take several months for the bank to negotiate a value with their Investors who own the loan before they decide to list the home for sale on the MLS. Once listed it will immediately appear at the top of this page on Marin-Home.com. Be sure to bookmark this page for the newest Bank Owned listings!
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