The office is closed so I can't call. I suppose this may be a local term and no one can definatively answer the question but I thought I'd ask because usually there's someone here that knows

What does "Judgment" mean on this Sheriff's Auction list? Is that most likely what's owed to the bank? (I may have asked this months ago, if so I apologize. my memory's not that great.)

I looked at these for a little while and then quit. A new listing and the short sale thread got me wondering about this whole proccess again.

The new listing looked like a foreclosure so I decided to see if it was on previous auction lists and it was. Its the CemetEry rd listing, appraised at 192,000, Judgement 201,303. Now for sale at 194,000 with a realtor who routinely lists foreclosures. It sold in 2001 for 180,000, avg appreciation since 2001 at 1.5% or less.

(FYI, I just happen to know that nearby there is a FSBO that is a very similar property but in many ways much more attractive (basement, landscaping, barn, meticulously maintained, closer to town) that was appraised at 235,000 (the foreclosure is on a crawlspace, further out etc.).

In the foreclosure thread Reno Fan mentioned that "This particular bank wanted 92% of the BPO (broker's price opinion) that they had on file. "

What is that? Who is the broker? The banks listing real estate agent? Or someone inside the bank? Is it related to the county's listed appraisal?

How does this relate to the listing price?

If the judgement is what's owed - then on this listing the bank apparently has agreed to taking a loss because of a market appraisal?

On the auction record it lists the bank that bought this.

Again brought up on the short sale thread - Is this the bank from the original mortgage, or the one that bought the mortgage? Or maybe the pertinent question would be, is this the bank you would be buying from? Or you can't tell, it could be either? Does it matter?

It's not that I'm particularly interested in this place, its too far out, I was very interested in the nearby FSBO and chickened out. If I didn't buy that I'm not sure what I'll buy but that's my problem:)

But I think, hope, that any answers to the questions will further educate on this process as the short sale thread did.

P.S. I would have thought I'd have seen this for sale (pre foreclosure) on the MLS like I have some other properties but don't think I did. I find that interesting although not particularly enlightening as I supposed it could be a whole variety of scenarios.

Here is a link that might be useful: County auction list