[JMPRO]

I did go to a trustees auction last week as a dry run to see what happens. To describe the auction process as informal is an understatement{ it is almost a joke} The auction is set in front of the courthouse in Santa Ana Ca. The auctioneer sets up in one of the noisest places he can find, under the front entrance that is a concrete cavern and just steps away from one of the busiest streets in town. The auction is held at 12 noon and the entire people content of the courthouse is walking behind you down this concrete cavern and making so much noise it is almost impossible to hear the auctioneer. I am hearing impaired to began with so this whole thing with the buses going by and the people walking behind you and yelling and chatting makes it impossible for me to attend one of these auctions by myself to do any serious bidding. This why I asked if anyone knew of any Realtors that specialized in the auction stuff. I am now pretty sure I won't be able to buy this property at a "Reasonable" price after further research has revealed that some idiot appraiser had appraised this house, either because of stupidity or fraud , at a ridiculeously high amount and now the trustees think this is what the house is worth. The listing shows a balance against the house at $745,000, the comps no matter how you shuffle them shows the place to be worth $350,000 in todays market. My budget will allow up to $400k but no more.

JMPRO