Foreclosure in 86336>Question Details

Creation, Home Buyer in Sedona, AZ

I found a house I want to buy; a B of A foreclosure. Under contract, about to fall out, back up offer "cash to close."

Asked by Creation, Sedona, AZ Thu May 31, 2012

How do I buy it? How do I find out what the offers are?

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Answers

7
I am an approved BofA short sale agent. I can submit an offer on their special short sale website. If the property is already under contract, we could try and get you in a backup position, so that if the original offer falls out, you could be next in line. Unfortunately, the bank will not give out any information regarding the current offer as it is considered confidential information. Short sales are different than foreclosures. I am a CDPE (Certified Distressed Property Expert) and have been trained in the stratigies for submitting offers on short sales & foreclosures. The stratigies to use to negotiate offers often depends on the lender backing the loan. BofA may be servicing the loan, but Fannie Mae or Freddie Mac or some other company may be backing the loan,. That is the information that is needed in order to stratigize & negotiate your offer and get it accepted. I'd be happy to help you with any other questions you may have or work as your buyers agent in the process.
0 votes Thank Flag Link Fri Jun 15, 2012
Thank you Gina. The home is B of A Bank Owned. Looks like the first offerer of cash did back and forth prices with the bank agent, and today it is being sold. I assumed that a cash offer was what was needed.
Flag Fri Jun 15, 2012
Hi there! They will not tell us what the offers are. Just the way that goes. Let me know if I can help. Contact info included. Thanks!
0 votes Thank Flag Link Thu May 31, 2012
Thank you!
Flag Thu May 31, 2012
All good questions for your realtor, you’ll need a good one on an REO, good luck,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
0 votes Thank Flag Link Thu May 31, 2012
If you wish, send me an email with the address and I may be able to tell you, if the property is in pre-foreclosure (short sale stage), if a Trustee sale date is scheduled and the short sale has been cancelled, or if the property has already become bank-owned.

My phone number is 480-966-9353, and my email is Steffy@talktosteffy.com.
0 votes Thank Flag Link Thu May 31, 2012
That's easy. You provide me with the address of the property you're interested in and it is my job as your agent to find this out for you and get back to you with the best way of purcashing the property. Are you currently working with an agent? Please let me know how I can be of help. My wife and I specialize in foreclosures and short sales.

SedonaRealEstateAgents.com
0 votes Thank Flag Link Thu May 31, 2012
I assume it is NOT in foreclosure and it has passed that stage of the process and that the bank owns it as a bank owned property. You can place a back up offer from your agent to the sellers listing agent. That would be the next step in case the current offer falls through. You likely will not be able to find out what the offer is on the current offer unless the sellers agent were to tell your agent, but there is no reason they would be apt to do that. You have to make an offer, the bank will accept it as a backup or they will counter it or reject it and wait for more offers to roll in.
0 votes Thank Flag Link Thu May 31, 2012
You will want to contact a buyer's agent. The referral agent I use in Sedona is the following:
Karen Mellillo
Realty Executives
karenm1313@msn.com
928-300-9151

Good Luck to you. If this does not work out, I am sure that Karen will help you find just the right place.
0 votes Thank Flag Link Thu May 31, 2012
Thank you! Have a lovely day!
Flag Thu May 31, 2012
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