Foreclosure in Carmichael>Question Details

Maria, Other/Just Looking in Blaine, WA

I want to know if the amount posted online is the total selling price of the property? like in Fair Oaks Blvd. amounting to $64,758 3 br, ba.. When?

Asked by Maria, Blaine, WA Wed Oct 20, 2010

you said Bank owned, is there an assume balance and other cost added in the amount posted online?

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The amount owed or foreclosed on has no relationship to the price the bank will sell the home for unless you are purchasing it at the county courthouse steps for cash then they may want as much is as owed or less depending if they want to dump the property. That being said unless you have tons of extra cash I wouldnt suggest buying at the courthouse steps there are lots of hidden cost and title problems that can spring up and you usually do not have advance notice to inspect the property being auctioned off. So caveat emptor----- Buyer Beware!!!
0 votes Thank Flag Link Thu Jan 20, 2011
This is what the Realty Trac listing reads: "Bank Repossessed. This property has completed the foreclosure process and is now owned by the foreclosing lender, which took title to the property for an estimated consideration (loan balance plus other fees and costs). Foreclosing lenders are often motivated to sell bank-owned properties (also known as REO, or Real Estate Owned) quickly because they are non-performing assets. Please register for a free trial with RealtyTrac to access complete information for this property, including full address, foreclosure details, lender information"

Maria, Your answer is NO, it is not available for you at the posted amount of $64,758. Tis a clever come on of a fake price to trick you to register your credit card with Realty Trac for a "free trial" to their foreclosure data service.
Their data service is a valuable tool for sophisticated investors, yet virtually worthless to the average consumer. The fact that you asked your question is convincing evidence that you are an average consumer who would NOT benefit from the Realty Trac subscription.
0 votes Thank Flag Link Thu Oct 21, 2010
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
Contact
I'm not completely understanding the question. What "on-line" site do you refer?

Mary K London
LYON Real Estate
6815 Madison Av
Fair Oaks, CA 95628
916-599-8575 or 800-227-5966 ex 308
0 votes Thank Flag Link Thu Oct 21, 2010
Please provide the link for where you are talking about. In general the source of your information will give us the hint as to whether the posted price is a 'real listing' at a 'real price'. For example, if your source is realtytrac they are posting a foreclosure notice. That is not a house for sale but one that has a posted foreclosure notice against it, and the amount owed may only be for their first mortgage, not all debt owed. the posting is the legal posting on this activity and not an advertisement for sale. If it's an auction site, this may be the starting (or opening) bid price.

It would be odd for a price in either Fair Oaks, or Carmichael to be listed at the price you mention unless it is a fixer. That's not in the range of most homes in that area. Please work with a buyer's agent if you want the real facts on properties in Northern Ca and to best meet your personal objectives. it will save you lots of time, and give you the best 'inside information' on good deals. Good luck!
Web Reference: http://www.suearcher.com
0 votes Thank Flag Link Thu Oct 21, 2010
Hi Maria,
Thank you for your intrest in Carmichael properties. What is the address you are looking at in Carmichael?? Maybe I can take a look for you and help you find out all you need to know.
0 votes Thank Flag Link Thu Oct 21, 2010
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