Foreclosure in Country Club>Question Details

Jack Aiello, Other/Just Looking in Bronx, NY

Totally new at the home buying game - any advice on how I get a list of foreclosures in my area (Bronx,

Asked by Jack Aiello, Bronx, NY Sat May 17, 2008

10465, particularly country club area). Also, what's the process if I'm interested in buying a property that's in pre-foreclosure?

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One of the best and easiest ways to find out about foreclosures, is to go directly to the courthouse in your county. There you'll actually see the notices of foreclosure or pre-forecloseure posted. A lot of the sources on the Internet are usually a ripoff, they may actually consolidate the notices from the courthouses. Foreclosures require a lot of legwork, so be prepared to do some legwork. Good luck!
Web Reference: http://www.shoookie.com
0 votes Thank Flag Link Sat May 24, 2008
Hi Jack,

I am happy to tell you that our office is having an first time home buyers seminar this Saturday, this will be a very informative event and I would like to extend an invitation to you. They will go over the A to Z on the home buying process. Please contact me for more info since this is an rsvp event.

Thank you
0 votes Thank Flag Link Tue Sep 18, 2012
Foreclosures are someone else's headache. The home probably has not been well-maintained and you're a First Time Buyer adjusting to paying a mortgage. Do you really want to walk in the door to someone else's deferred maintenance that YOU will have to pay for? Also, if you're thinking there are deals to be had in terms of lower prices, mostly those "deals" go to professional investors who can pay cash, negotiate hard with a Lender, and close fast.

For Short Sales, my attitude of late is that First Time Buyers should steer clear. Short Sales tend to be a better deal for the homeowner than for the Buyer. You'll wait MONTHS for the homeowner's Lender to approve the short sale; maybe as long as Six or Seven Months. Meanwhile, you're stuck in a contract to buy that home. I closed a short sale recently with a Buyer who, after seven months said this at the closing table, "I don't even want this house anymore."

And he didn't even get the "deal" on price he thought he was getting! The house appraised for only slightly more than he paid for it at the short sale price. He walked into this deal thinking he was buying a home for $100,000 less than it's value. In the end that wasn't the case.

There are plenty of motivated Sellers with their homes listed on your local MLS. Go find a good Local Mortgage Banker, get prequalified, then find a great, experienced Realtor, and buy the home you want at the price you're willing to pay. It's a Buyer's Market, after all!

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528
0 votes Thank Flag Link Wed Sep 12, 2012
Hello Mr. Aiello,
I’m Raymon Canela, an agent in the Bronx New York. The current market conditions make it a perfect time for a small investor to purchase one or more foreclosed properties for their private residence, rental or resale. During economic downturns, more upscale homes go into foreclosure, so the notion that foreclosure homes are only available in crime-ridden areas is inaccurate. Beachfront and homes in affluent areas are part of the mix of foreclosed properties available. Most foreclosed home are listed on the MLS to which as an agent I can help you find. You can also check the county court house or the area you are looking in. Feel free to call (914)329-7830 me for a free and no obligation consultation.
0 votes Thank Flag Link Tue Dec 22, 2009
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