Usually when you have homes that are strongly affected by location influences it is reflected in the price. I have been on listing appointments where the LIRR was in the backyard, when they reduced the price enough eventually it sold. While such a property might not be right for you, or most buyer's, once you hit the right price point almost anything will sell.
Tom Brady SFR, e-Pro, SRES, GREEN
Licensed Real Estate Salesperson
Notary Public, Ret. NYPD Lt.
"We treat you like family!"
Charles Rutenberg Realty, Inc.
255 Executive Plaza - Suite 104
Plainview, New York 11803... more
Lou, I would be happy to help you get your home live on this website. It feeds directly off of the MLS, without a realtor though you would not be able to get onto this particular site. Feel free to contact me if you are interested in hiring a realtor, it is honestly the best way to get the most exposure for your home.... more
According to New York State Foreclosure Law, "In New York, foreclosure sales are made by public auction, usually at the county courthouse. The property is sold to the highest bidder and anyone, including the lender, may bid. The winning bidder typically has to pay 10 percent of the final bid at the sale and the remaining balance within 30 days. When the full amount is paid, the winning bidder takes ownership of the property. Borrowers have no right of redemption after the sale."
Also, there are up and coming regulations on reducing the turn around time for the transactions. I am only hoping that you are not dealing with Bank Of Amerca. Check the web for the specific bank with which you are dealing with, as this greatly determines the experience you will be going through.
The link below is for an animated, humorous version of how the REO procedure works - it may not help ... but it may put a smile on the face of a complicated arduous process. In the end, if you succeed - you will save 10's or even 100's of thousands of dollars - so look at it as earning a salary for a job. Good Luck!... more