Maybe Im Just Over Analyzing The Situation
I am a 21 yr old ,who has been consuming everything possible about real estate ,specifically foreclosures , I was wondering , when a person is in foreclosure why doesnt the homeowner just sell the house through a realtor who is going to sell the house for as much as possible, instead of going through someone like me an individual real estate investor who is going to try to buy the property for the least amount of money possible and flip the property?
Some, do sell through a realtor. Some, do not want sell at all and wait until there is not enough time to find a retail buyer and close before the auction. Some, never face reality, and just go to auction. Some, get a loan and stay in the house. Some choose to declare bankruptcy. Some do not have enough equity.... etc..
SOme do not have enough $$ or equity to use a realtor. Most the time though, they are usually in cities where homes don't move quickly. In my town in Northern VA there are usually double digit number of contracts on a single house and the house usually sells within 24 hours... some within minutes. But in other places of the country, this doesn't happen. Sometimes it takes 60, 90 days sometimes a year to sell a single house. The market is just not hot as it is in other places. So if your not behind in your payments YET and you list your house to sell, it will probably go into foreclosure before you can even sell it.
thanks for the input , i really appreciate it u clarified things up a little for me