Foreclosure in 92078>Question Details

sharon, Home Buyer in San Marcos, CA

I like this home that is a foreclosure but it is not listed yet. How can I have an agent help me to buy this home?

Asked by sharon, San Marcos, CA Thu May 17, 2012

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8
Gil Soto’s answer
Depending on who the lender, servicer or investor is will determine how long it may take to be assigned to an agent. It may have already been assigned to an agent who is in the process of getting the home on the market or I have seen it take months before it is assigned to an agent.
The market has heated up over the last several months and we are now seeing mulitple offers and bids over list price. Most REO listing agents are requiring proof of funds and loan pre-approval letters with the your offer so it is critical that you have this step done.
I can help you track when the home goes on the market and provide you with a pre-approval letter at no cost.
Gil Soto
Realty Executives
San Diego Financial
1 vote Thank Flag Link Thu May 17, 2012
Hi Sharon,

As a former bank executive, I can tell you there is little you can do to obtain the property until the bank lists it with their chosen agent (typically contracted for geographic areas).

Banks have created systems that meet legal and regulatory requirements. They do not "skip" steps (anymore) to get a property to market faster. In addition, they want the most offers (most money) for their asset as possible.

You can create a research request to receive an email as soon as the property does come on the market.

Hope this helps!

David Rudd
david@kindredre.com
858.395.6315
ca dre# 01402946
2 votes Thank Flag Link Wed Feb 20, 2013
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0 votes Thank Flag Link Fri May 18, 2012
There is typically nothing much to do until it comes on the MLS. Most REO agents have a contract witht their lenders that each home must be posted. For the banks, it provides maximum exposure of their properties.

It would be wise to have a pre-approval letter in hand and records of your downpayment. These will enable you to act as soon as the home hits on the market.

Of course, you should also have a Realtor working for you and trying to track down who has the listing....

As with the other agents who have answered this question, I would love to help you.
0 votes Thank Flag Link Thu May 17, 2012
Hi Sharon. I was surprised to see you're still looking in San Marcos. I thought you were considering moving to Orange County. I would love to help you again. Please call me and we can get started again!

Bryan Devore
Prudential California Realty
760-908-3838
0 votes Thank Flag Link Thu May 17, 2012
Your first step in buying any property should be to speak with a local real estate agent. An agent will guide you through the home buying process including, getting prequalified if you need a loan, seeing active properties, etc. Also an agent will be able to watch the market to see exactly when any property goes on the market.

I would be happy to meet with you to discuss the home buying process and to answer all your questions and concerns. Please feel free to call or visit my website if you'd like to set up an appointment.

Theresa mack
858-230-4850
0 votes Thank Flag Link Thu May 17, 2012
Hi there, well you are welcome to visit my website to search for the property yourself or feel free to contact me or any agent/REALTOR and we will be happy to help

Glen S Etherington, Principal Broker, REALTOR
877-223-1448
Calbrokerglen@gmail.com
Web Reference: http://www.glincus.com
0 votes Thank Flag Link Thu May 17, 2012
Hello, Give me a call and give me property info so I can research status of property. I will then inform you of availability. Thank you, Marco Bernardino 760-533-5117
0 votes Thank Flag Link Thu May 17, 2012
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