Foreclosure in 08094 : Advice

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Richard P Br…, Real Estate Pro in 08094
Richard P Bradford, CRS answered:
I have my house on the market and need it to purchase a REO. Will the bank work with me e.g. contingency?
The bank will not take a contingency. The bank is about numbers and money. If you are not ready to settle, the bank typically will not wait. They probably won't even look at you ... more
0 votes Share Flag Mon Oct 31, 2011 Foreclosure in 08094
Richard P Br…, Real Estate Pro in 08094
Richard P Bradford, CRS answered:
What options do I have for purchasing a REO house?
There are a lot of options for purchasing an REO house. You need to know that where there's a great deal with REO's price wise (sometimes), that they present a whole lot of r ... more
0 votes Share Flag Mon Oct 31, 2011 Foreclosure in 08094
Marc Paolella…, Real Estate Pro in Succasunna, NJ
Marc Paolella, Relo Director answered:
2 REOs sold for 235,000 & 250,000 in last 9 mths. I want to bid 240,000 in same dev. Original for all 400,000.
Brenda,

If the the home you want to bid on is not an REO, then you are not going to be able to get it for the same price. REO properties typically are in bad condition and need a ton ... more
0 votes Share Flag Tue May 12, 2009 Foreclosure in 08094
J R, Real Estate Pro in New York, NY
J R answered:
If a house is a bank owned foreclosure property can I still bid lower on the foreclosure price listed?
Determine the market value of the property and make whatever offer you like. All cash is the strongest offer. Don't expect to lowball the bank and finance 90% and have your offer accept ... more
0 votes Share Flag Mon May 11, 2009 Foreclosure in 08094
Francesca Pa…, Real Estate Pro in Monmouth County, NJ
Francesca Patrizio answered:
How does the buying process for foreclosures or FSBOs differ from homes sold by agents?
Brenda,

There are many differences, but most notably there is no real agent commissions involved.

Love and Peace,
Francesca
0 votes Share Flag Sat May 9, 2009 Foreclosure in 08094
Francesca Pa…, Real Estate Pro in Monmouth County, NJ
Francesca Patrizio answered:
Can the taxes be lowered on a bank owned home if it is purchased much lower than the original price?
Brenda,

A tax reduction is based on current market comparables, which here in Monmouth County does not include foreclosures. There is a chance that the answer is yes, but that would ... more
0 votes Share Flag Sat May 9, 2009 Foreclosure in 08094
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