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Investors buy two properties at auction

Wed, Aug 8, 2012

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Investors bought two of the 37 properties that sold in the El Paso County Public Trustee’s foreclosure sale Aug. 8. All of the others sold back to the lenders.

T.P.I. paid $75,100 for a 858-square-foot ranch home built in 1965 at 1403 Maxwell St. (80906). That was more than lender Bank of America’s initial bid of $69,190.47. William Smith borrowed $83,460 on the property in February of 2009. The El Paso County Assessor estimates that the market value of the house is $79,727.

IDP Capital paid $45,600 for a 1,036-square-foot townhome built in 1985 at 4349 Charleston Drive (80916). That was more than lender Bank of America’s initial bid of $38,336.55. Annette Graham borrowed $99,596 on the property in September 2006. The El Paso County Assessor estimates that the market value is $77,145.

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