Is Realtytrac a reliable company? And why are houses listed for $7,000?

Question

What's your opinion of them? Have you ever used their service?

Also...I'm not a member at this time, but I've seen properties there that say things like "The expected sale price is $1,500" or "The expected sale price is $7,800" for example. Is that really supposed to be the cost of the house? Are those properties probably being offered up at "tax sales" or are those traditional sales?

I'd appreciate help on this. Thanks!

Answer 1

If it looks to good to be true it probably is. As a realtor I signed up with realty trac as a provider for listing leads. This was not a good choice I felt. I have not found them to be a real reliable source to obtain information on local properties that are in distress situations.

If you have a Realtor he is probably hooked up with the county information which is more up to date. This information can also be provided by a title company.

Then the old fashion way go down to the court house see whats posted on the board.

1500 or 7000 dollar property indicates to me that this is an auction or tax sale and if you purchased it at that price you may have just bought yourself a loan lurking in the wings for who knows how much.

This is why buying a home on the court house stairs is such a risk for the novice. It will always be my recommendation to stay clear from any auction on property. You do so much better with an experienced Realtor that can counsel you and guide you to the correct property.