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Usually WaMu would have a REO agent do the normal routine – vacate, paint, and then list the home on the open market for just under retail.

The bank has already foreclosed – but instead selling of the old-fashioned way, they chose to make it an auction.com exclusive listing.

The house is tenant-occupied and can’t be shown, the buyer is responsible for evicting the tenant, plus the buyer has to pay a 5% premium but there’s no buyer-broker commission is offered (it’s not on the MLS) – and oh, by the way, you have to pay cash:

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The opening bid is 42% of the previous value, which looks attractive:

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P.S. This was foreclosed in 2011 – the trustee sale’s price that nobody wanted to pay then was $459,088.

What will the sales price be? (assuming the reserve price is reached)

The closest guesser will get 4 tickets to Padres vs Rockies on August 13th!

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