Nadia, Home Buyer in Deerfield Beach, FL

Was told foreclosure is fastest vs short sale and cheapest. If I want to buy cash Where are info to contact bank directly? or how to proceed

Asked by Nadia, Deerfield Beach, FL Fri Sep 7, 2012

Help the community by answering this question:

Answers

8
Annette Lawrence’s answer
Question posted Sept 2012.

Foreclosures are offered for sale by real estate brokers.
You should and will need to work with a real estate agent to present a purchase offer.

You can call the bank directly if you want to open a checking account.

Best of success,
Annette Lawrence, Broker/Associate
Remax
Palm Harbor, FL
727.420.4041
0 votes Thank Flag Link Sat Jul 26, 2014
Depending on factors such as the particular financial institutions foreclosure processes, foreclosures are easier to close. For either a Foreclosure of a Short Sale, you typically get a great price but, you assume the risk that the home won't close and the deal can be pulled at anytime (even up to closing day). Clear title may be an other issue depending on how it's offerred. With eith you can have multiple offers.

Foreclosures, present only 2 parties during the decision process. The bank has does have incentive to sell. For these reasons forclosures may be easier.

Short sales, have 3 parties (seller, bank, and the buyer). More parties, less fun. What happens in Short Sale is that the the bank and the seller enter into an agreement to sell the home at a lower price to prevent a foreclosure. However, the bank will want to try and recoup their loss. If at anytime they feel they can get a better price, they will pull the deal.

If you have patience and strong constitution you can try either of these buying methods, but I do recommend hiring a Buyers Agent to help smooth process and handle most of the detail.

Hope this helps you understand a little more.
1 vote Thank Flag Link Fri Sep 7, 2012
Unless the property is listed by the bank, which is rare, you need to go through the listing agent. However, as foreclosure and short sale experts, we can contact them on your behalf and facilitate the transaction.

Regards,

Aryl & Pati Robison
The Robison Group, RE/MAX Ultra Realty

Aryl: (305)781-7505
Pati: (305)781-7506
Fax: (305)359-9100
Email: Info@RobisonGroupFlorida.com
Website: http://www.RobisonGroupFlorida.com
0 votes Thank Flag Link Fri Jul 25, 2014
Hello Nadia.

Foreclosure process:
The seller-bank receives many offers, and the best offers, the bank will consider.
When the buyer provided to the bank an offer; the buyer should have in consideration that his or her offer is not the only one. Therefore, the buyer must meet the requirements that the bank requires.
Pro example, buyer must show that he or her has the money in the in the bank in The United State, or buyer has been approved by financial identity for loan.
You need to give this information to your realtor because your Realtor will do the paper work to send to the bank.
Please feel free to contact me,


Lucero Leirvik
Realtor
Exit Metroquest Realt http://yWWW.Lleirvik@metroquest.net
cleirvik@bellsouth.net
http://WWW.realestate-luceroleirvik.com
PH:(954)298-810
0 votes Thank Flag Link Mon Sep 10, 2012
Hi Nadia,
Foreclosures are fast since banks are trying to get properties off their books. If you are purchasing with cash it will close faster than doing a traditional purchase with financing. I can help you find a great buy so you can contact me and we can discuss your options and price range. I look forward to hearing from you.



Thank you,
Tamika Moses
Keller Williams Realty Partners SW
954-404-4646
tmrealtor@yahoo.com
0 votes Thank Flag Link Sat Sep 8, 2012
Foreclosures are definitely faster than a short sale, and generally you can save a buck or two on the initial purchase price......banks will list through a realtor (and pay for their services), best way to proceed is to contact a local realtor...if looking for HUD homes, be sure the realtor has access to these properties. Another factor to recognize in the purchase of a foreclosure, these homes are oftentimes not 'loved homes' and require more work to get to a move in condition....of course there are exceptions to everything. If you need a referral to a qualified realtor in Deerfield, feel free to let me know, I would be happy to assist you.

Hope this helps!
0 votes Thank Flag Link Fri Sep 7, 2012
A foreclosure most likely will be quicker for you to purchase than a short sale however you can not deal directly with the banks. The banks will list the foreclosed homes with licensed real estate professionals to represent them. You need to hire a licensed real estate professional that is familiar with foreclosures to represent you. The bank will pay your agents commission so you get representation at no cost to you.
0 votes Thank Flag Link Fri Sep 7, 2012
for more informtion please log on
http://WWW.Lleirvik@metroquest.net
cleirvik@bellsouth.net
0 votes Thank Flag Link Fri Sep 7, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer