There is a REO at Majestic Beach Resort in Panama City Beach, FL listed for $333,900. It’s a three bedroom end unit with a very large balcony. This REO is a being sold in a online auction. Realtors can only input offers. The initial auction last seven days and on the last day at midnight the auction is closed. They then review all the offers and accept the offer with most favorable terms. If the reserve set by the lender is not been met the auction will continue on a daily basis ending each day at midnight.
The seven day portion of this auction is scheduled to close at midnight 3/30/2009. I inspected this property Friday and have pictures if anyone would like to see them. Over all the unit is in good shape.
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