Aug 14, 2013

Dallas' priciest foreclosure this month

So glad that foreclosures and short sales are down. But as usual, buyers of distressed properties still have some choices if they show up on the courthouse steps on the first Tuesday of each month.

Here is the most expensive foreclosure that's been posted for sale this month. It's located on a lovely acre lot in the Glen Abbey community off of Keller Springs Road. With more than 11,000 square feet, a pool, cabana, and sports court, it also has 4 bedrooms and 8 baths. The amount currently owed on it is just over $5.5 million. But you may be able to snatch it up for 3 or 4 million. Who knows?

While the owners can take steps to recover the property and remove it from the foreclosure auction, it is likely to be sold to the highest bidder in a few weeks. Show up with a cashier's check or money order to cover your bid and it could be yours. Remember that you need cash to buy a foreclosure like this and they come 'as is'. Don't forget the $85,000 annual tax bill and any HOA dues that might need to be paid. [where: 75230]

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