What does it mean when a bank owned home is non-financeable?
The house was listed at $210,000 until recently. The pictures online looked like it was seriously in need of updating and had a poorly done garage conversion.
Now it's listed on an auction site and says bidding will start at $60,000, with a statement that it is non-financeable and buyer will receive a special warranty deed.
Is that normal for an auctioned home, or is it because of a cloud on the title or something else?