Foreclosure in Wynnefield>Question Details

Linda And Ha…, Home Buyer in 19131

My husband and I will like to purchase a forclosure home in wynnefield. So we want to know how would we go about purchase.

Asked by Linda And Hakim Williams, 19131 Tue Jan 24, 2012

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Larry Lichtman’s answer
Hi Linda & Hakim,

I can help you search for a good home and negotiate a great deal for you. Please call me so we can make arrangements to meet and discuss your goals.

There are many beautiful homes available in Wynnefield and the immediate area. We may be able to find you a short sale opportunity as well. You don't necessarily want to wait to find a foreclosed property when there are opportunities to negotiate with the bank before foreclosure.

Please feel free to call me anytime. Looking forward to speaking with you both soon.

All the best,
Larry Lichtman
REALTOR, Property Manager
Your Real estate Resource For Life
Cell/Text: (267) 254-7994
2 votes Thank Flag Link Wed Jan 25, 2012
Wynnefield is a great location, and many homes become available to home owners with a 7 day first look with Fannie Mae. I can show you how to find your home at a great price. Call me



Michael P. Cohen ABR ASR, BPOR
Associate Broker
RE/MAX Access
1033 N. 2nd Street 5Th Floor
Philadelphia, PA 19123
Direct Line: 610-642-0347
Office: 215-400-2615
Greenfax: 610-680-3688
Cell: 610-331-7213
mskj@comcast.net

Current listings with Photos-click here
http://www.accessphilly.com/agents/michaelcohen

Text version of current listings
http://wwww.PhillyReo.com
Web Reference: http://www.phillyreo.com
0 votes Thank Flag Link Tue Jan 24, 2012
Hello Linda and Hakim,

First... Consider your "handyman" skills and finances. Are you ready to take on an as-is project that probably will require money AFTER the settlement in order to repair or update the home....

Bank owned homes are sold as is. You can inspect all you want, but it is very unlikely the bank will make repairs...that means you have to. MOST foreclosures really do need some level of work.

Normally - the thing to do first is get pre-approved for a mortage. and you need to do that. In your case, the most impotant thing to do will be to find an agent who is expert in home repairs, costs and foreclosures.

I am one such agent. others have replied too. But this is really the critical thing. If you are not very handy yourselves, or do not have cash leftover after you settle to pay for contractors or even materials, then you should NOT persue foreclosed properties.

"Penny wise, pound foolish" is the old phrase. it applies here. Inexpensive seeming homes are not a good deal at all, if you don't have the money or skills to repair or update them.

A good agent experienced in these areas can help you sort this out.

If you have those skills, or financial reserves, then lets talk. If you are unsure why that matters then you really NEED to talk to me or someone....so you don't bite off more than you can chew, and be in foreclosure yourself !

Call me if you believe i can help you

John Leonard
Long & Foster Real Estate
610-742-9389
john.leonard@lnf.com
Web Reference: http://www.nicepahomes.com
0 votes Thank Flag Link Tue Jan 24, 2012
Hello Linda,

My name is Jonathan Phillips and I specialize in Foreclosures and Short Sales. I would be more than happy to help you get started. Feel free to contact me and we can move forward from there.

Sincerely,

Jonathan Phillips
Realtor
Certified SFR Short Sale and Foreclosure Resource
Long and Foster Real Estate Inc.
Blue Bell Office
860 Penllyn-Blue Bell Pike
Blue Bell, PA 19422
Office: 215-591-5682
Direct: 215-740-4885
Fax: 215-654-5901
0 votes Thank Flag Link Tue Jan 24, 2012
Hi guys, it is simple. You ask a Realtor to send you a list of distressed properties (bank-owned, divorce, estate sales, foreclosures, short sales). I would include non-distressed properties as well since they can also be a good deal.

The one thing to keep in mind is that with a foreclosure, you often times have to pay cash and there could be much work needed before you can legally live in it.

Please feel free to search my site and let me know if you want to sit down over coffee and have a no-pressure talk about what your next steps should be.

Eric Axelson, Associate Broker
Licensed in NJ and PA


Kurfiss Sotheby's International Realty
267.507.2287 in PA
856.617.1212 in NJ
eric@axelsongroup.com

Award-Winning, Multi-Million-Dollar Producer
Most Prestigious Real Estate Company, Luxury Institute
0 votes Thank Flag Link Tue Jan 24, 2012
Hello Linda,

You need to start by speaking either with a local Realtor or Mortgage lender. Either will be able to set you on the right track.

Regards,
Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010
NMLS ID 143960
0 votes Thank Flag Link Tue Jan 24, 2012
Hi, Linda & Hakim.

The term "foreclosure" in today's real estate world typically means "discount property" to the average buyer. While this can be true in some instances, it's not always the case.

Foreclosures can offer great opportunities to buyers, but it really depends on a few things: 1) Is the home for you to live in, or is it for investment purposes?, 2) How do you plan to pay for it (i.e. mortgage or cash)?, and 3) Does it need to be a foreclosure per se, or can it be any property as long as it fits within your criteria and budget?

There are many more things to discuss, but I felt that these were general enough to at least start a discussion. If you need any additional help, please feel free to contact me. All of my information is below.

Best,
Tim

Timothy Garrity | Realtor & Consultant
Licensed Real Estate Salesperson - #RS314897
215-829-8850 Office
267-879-2716 Mobile
tim@usspaces.com
0 votes Thank Flag Link Tue Jan 24, 2012
Linda and Hakim,
The very first thing you need to do is get pre- qualified with a lender. They will help you go over the financing options as well as the best way to structure the offer to be financially beneficial to you.

If it is a foreclosure or bank owned, they may limit the amount you can receive in a seller assist towards closing costs. Also, be careful as you may be purchasing the house in AS-is condition. You really should seek out representation as foreclosures are not the easiest of transactions.

If you need any further assistance, please feel free to contact me.

Emily Landis Torres
Realtor, PA Licensed since 1993
RE/MAX Central
1110 N. Broad Street
Lansdale, PA 19446
Phone: 215-362-3100 ext 1793
Direct: 267-640-2327
Fax: 267-354-6866
Email: emily@emilyshomeinfo.com
Website: http://www.emilyshomeinfo.com
0 votes Thank Flag Link Tue Jan 24, 2012
Hi Linda,

Locating a knowledgable real estate professional to represent your interests is the first move. That individual will be able to direct you appropriately. Please keep in mind that banks typically look at cash offers first, and value those higher than those which are contingent upon financing.
0 votes Thank Flag Link Tue Jan 24, 2012
Hello,
I'm a realtor in the wynnefield area. Please give me a call.

2158522041 philgreen@lnf.com
0 votes Thank Flag Link Tue Jan 24, 2012
The First Step is to get pre-approved as this will ensure your offer can be placed for any home in Wynnefield that meets the budget requirements. This process takes no more than 15 minutes and on average 16 pages of documents is requested for review. The Second Step is to find a Real Estate agent that is proficient in that market place. The Third and final step is to get out there and look for homes! After you both decide on the home a tailored pre-approval will be made by your lender to compliment your offer. My services are available to you 7 days a week so feel free to ask for payment and closing costs on any upcoming prospect homes. Below is my contact info and look forward to talk with you soon.

Yours truly,

Edward Dubinsky
Branch Manager
Office: 267-296-9309
Cell: 215-808-5353
Fax: 215-701-9198
E-MaIl: edubinsky@ahmcloans.com
Web Site: edubinsky.ahmcloans.com
0 votes Thank Flag Link Tue Jan 24, 2012
Good afternoon Linda,
You can talk to almost any real estate agent about purchasing a foreclosure, however there are question you have to ask yourself before going this route some being.1) Are you willing to purchase the property as is? 2) Will the purchase price plus any repairs that the bank will not do equal a value buy? 3) Is there another house in the area that is not a foreclosure a better deal, etc. Buying a foreclosure is not always the best deal and you may be missing out on another house if you are only looking at foreclosures. Feel free to contact me so we can discuss the pros and cons and also your criteria in a property.
0 votes Thank Flag Link Tue Jan 24, 2012
Hello LInda,

Unless you are buying cash, your first step should be to talk to a lender and get pre-qualified for the mortgage. You can go to your bank I can also refer you to the lender i use, minimum credit score needed is 600. There's also some help available for 1st time home buyers. If you have any questions feel free to contact me.
0 votes Thank Flag Link Tue Jan 24, 2012
Where did you find the listing for this? Contact the listing agent or call any Wynnefield agent to get info on this property. They can help you.
0 votes Thank Flag Link Tue Jan 24, 2012
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