$101,554 EMV

1,920 Sq. Ft.

408 2nd Ave, Selma, AL 36701

Overview

This Bankruptcy is located at 2nd Ave, Selma, AL 36701. It has , 1,920 sqft of living space. This property is Bankruptcy with an estimated market value of $101,554.
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Status: Active
Listing ID: 58611387
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Learn about 408 2nd Ave in Selma, AL

This property is available as a bankruptcy at 408 2nd Ave. Based on our analysis of the current market conditions in Selma for 408 2nd Ave and comparable listings, the estimated market value is $101,554. If purchased for rental purposes, the monthly rental rate could range between $750 and $1,010. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at 408 2nd Ave are updated daily along with others in Selma, Alabama.


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Property Information

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Community & Neighborhood

This property in Selma, AL is located in the Woodland Heights Subdivision.


Bankruptcy

The property located at 2nd Ave in Selma, AL is listed as a Bankruptcy

This bankruptcy listing at 2nd Ave in Selma, Alabama is among more than 1 million records featured in our comprehensive nationwide real estate database. However, unlike most property records, not all homes / addresses associated with a bankruptcy filing are for sale. This is an important legal concept to understand before moving forward on 2nd Ave Selma, AL. We highly recommend that you first contact the court-appointed receiver / trustee listed below (scroll down) under "Bankruptcy Information" to learn whether or not the property is (or will soon be) for sale.

What is a bankruptcy estate?

A property owner who is experiencing difficult financial issues will sometimes file for bankruptcy as a last resort. This is a legal proceeding (usually called Chapter 7 bankruptcy), during which a court-appointed receiver / trustee will be assigned to determine all the assets of a distressed property owner. More often than not, a home or property is one of the most valuable assets that the court-appointed receiver / trustee will leverage to satisfy the distressed property owner’s outstanding debts. The contents of the home, as well as any other assets (e.g. cars, boats, etc.), are also often included in a bankruptcy estate. The court-appointed receiver / trustee is almost always motivated to sell a property included in a bankruptcy filing very fast -- there is no real attachment to it other than to obtain funds to pay off debts. And the savings for a savvy buyer and/or investor looking to buy bankruptcy houses for sale in Selma, AL can be tremendous.

First Steps to Buying a Bankruptcy

In order to purchase a bankruptcy property, you will need to approach the court appointed receiver / trustee to pursue your deal.

Contact the bankruptcy trustee to find out if the property is for sale as part of the bankruptcy.  If so, request the terms for the sale of the property as well as any additional information regarding the condition of the property. This will help you understand the type of investment your are getting into.

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Rental Value

The estimated rental value for located in Selma, AL is $881/month. Comparable homes around 2nd Ave that are rentals have monthly ranges starting as low as $750 per month and as high as $1,010 per month. An owner looking to use this property as an investment could bring a return in the area of $750 - $1,010 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.

Listing History

Start Date End Date Listing Type Bank Name
08/31/22 09/13/22 Preforeclosure US BANK TRUST NA
02/24/20 04/01/20 Preforeclosure US BANK TRUST NA

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2nd Ave
Selma, AL 36701

1,920 sq. ft.

$101,554 EMV

Status: Active Listing ID: 58611387

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Property Description

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