Foreclosure in Orlando>Question Details

chonarr29, Home Buyer in Orlando, FL

Rent expires in September & found some bank foreclosed Orlando houses here in Trulia under Auction.com w/mortgage that's cheaper than our rent.

Asked by chonarr29, Orlando, FL Thu Aug 15, 2013

How do I bid on those houses?

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Answers

7
Auctions can be difficult, especially if you’re financing instead of paying cash.

You’re correct, often your can purchase for cheaper then renting, AND you’re building equity, not making your landlord rich.

Not everything you see on TRULIA and other consumer sites is accurate and up to date.

I’ll be glad to work with you to find a home in the Orlando area, and I can recommend a very good LOCAL Mortgage Broker.

Please feel free to contact me directly carlrealtycenter@aol.com or by phone 407-832-4650.

Once we get you pre approved and pick an area you’d like, I’ll set up a search for you and you’ll see everything that’s currently listed for sale in that area, and you’ll get updated automatically if something matching is newly listed

I hope to hear from you soon.

Regards,
Carl Head
Realty Center Orlando
0 votes Thank Flag Link Fri Aug 16, 2013
Hi, I am a direct lender with an A+ rating on the Better Business Bureau and come highly recommended. If I can be of any assistance just let me know.

All the best,

Fritz Walter
VP of Retail Sales
Toll free: 800-359-1996 x551
Direct: 203-783-4551
Email: fwalter@totalmortgage.com
Alt email: fritz@post.Harvard.edu
NMLS ID: 387922
Visit my webpage: http://www.totalmortgage.com/bankers/fritz-walter/
Company Website: http://www.totalmortgage.com
Total Mortgage Services, LLC - NMLS #2764
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0 votes Thank Flag Link Fri Aug 16, 2013
I have something to add: Do not rely on the payment calculators that are on websites. Make sure you speak to a lender directly to get a feel for what you qualify for, what the payments will be, and how much money you will need to come up with.

If you read the fine print, most mortgage calculators or sample payments are based on a mortgage with at least 20% down, perfect credit, and those payments usually dont include property taxes, insurance, and homeowners association dues. These can add up quickly and can cause that payment to easily double.

I'm not saying it doesn't make sense to own as opposed to rent. Quite the contrary. There are a lot of benefits to being a homeowner. You just need to find the right people - a good Realtor and a good lender - to guide you through the process and educate you so you can decide if it's right for you. It's not a sin to rent. It just comes down to the right decision for YOUR needs

If you'd like to review some financing options, feel free to give me a call or email me.

Tony Grech

Loan Officer -NMLS #977416

WCS Lending, LLC
Tony.Grech@WCSLending.com
Phone: 866.936.5363 ext. 278
0 votes Thank Flag Link Fri Aug 16, 2013
Properties that are listed on Auction.com require a pre-auction bid which includes proof of funds (ie. pre-qualification letter from your lender). At the actual auction, you will need to bring a cashier's check for either $2,500 or $5,000 depending on the property plus a personal check to pay the remaining required 5% down payment.

If you would like to see what other auction and foreclosure properties are available in the Orlando area, stop buy our site that specializes in these listings at http://www.bankforeclosuressale.com.

When I checked last, we have 622 active listings in the Orlando area. Here is that link as well: http://www.bankforeclosuressale.com/list/fl/county095/orlando.html
0 votes Thank Flag Link Fri Aug 16, 2013
To answer your question, you would need to speak with a lender to get pre-qualified for a dollar amount... typically auctions require a PQ letter to place a bid.

You can get a pre-qualification letter from any lender licensed to lend in your area...
0 votes Thank Flag Link Fri Aug 16, 2013
Do keep in mind that the numbers you see on Auction.com are opening bids and bear little resemblance to what the real winning bid might be.
0 votes Thank Flag Link Fri Aug 16, 2013
it is true that you can purchase a home were the monthly outgoings are cheaper than renting. Please let me help you with that. Call me on 407 832 4888 and I will let you know of all of your options
0 votes Thank Flag Link Fri Aug 16, 2013
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