The New REO Discount: 100%
For many US homeowners, a house represents their greatest asset and largest investment. For one visitor to RealtyBid.com, however, that asset is about to become the cheapest investment. Try 0% LTV. That's the premise behind a new house-a-month giveaway, "The House Game," an online trivia game that enters participants in the running to win a post-foreclosure house, whether or not they answered the trivia questions correctly. RealtyBid, an online real estate auctioneer, recently partnered with media technology provider ValCom to promote the giveaway as part of its ongoing auctions of real estate-owned (REO) houses at "rock-bottom prices." “Each month through RealtyBid.com, ValCom will be auctioning dozens of post-foreclosure homes at unbelievable prices to home buyers and investors around the country," said RealtyBid CEO Tony Isbell. "These will be absolute, no-reserve auctions; all properties with bids will be sold. ‘The House Game’ is really symbolic of what we will be doing each month with ValCom—giving away houses!” The first seven-day auction of post-foreclosure properties began Saturday and runs through June 27 at 8 p.m. EST. "The House Game" winner is randomly selected on June 28 to win a two-bedroom house in Florida. Write to Diana Golobay.