Metro Detroit foreclosures – Zillow lists the last sale price as low.

 

Sometimes lists the last sale price on a Metro Detroit foreclosure as very low.  The reason why the last sales price may be low is that Zillow pulls from public records.  Public records show the sheriff sale price.  So if the Metro Detroit foreclosure is sold at sheriff sale for a low price it will show up.

A sheriff sale price isn’t really a true sales price.  It would not be used in an appraisal and you shouldn’t use it as a point of reference.  That is why sometimes a Zillow estimate is off.  A low sheriff sale price from public records may be used to get a estimate.  It is hard for Zillow to eliminate all the bad data.

I hope this give you a little information on Metro Detroit foreclosures and why a sales price on Zillow may be low.

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