Foreclosure in Silverton>Question Details

Walkerone, Other/Just Looking in Salem, OR

We are interested in a property in Silverton, Oregon, 607 Washington st, silverton,or 07381 It went to

Asked by Walkerone, Salem, OR Mon Aug 17, 2009

auction August 6th,2009 and then went back to you. What is happening with this property now, what is it selling for?

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I done several BPO's (Broker Price Opinion) for several lenders in Silverton for homes they want to foreclose on and I found out that is taken from few weeks to several months before they get the property on the market, I also found out that Silverton is one of the few towns were properties under foreclosure are under bad conditions and many of them are not financeable due to damage done by current occupants (angry about getting kick out) and also many of them will not have utilities so you can find many of them with damages caused by cold/moist during these months, make sure that if you are getting financing you aren't waiting on a property that will be sold cash, not all foreclosed home can be purchase by using financing, some homes will be allow to get repair loans and other will not, start working with a realtor ahead of time to have your financing ready, most homes that are listed to sell fast will be gone in a day or two, so if is going to take you two day to get financing you’re going to be few steps behind other buyers, Step #1 get pre-approved( unless you’re buying cash)
Good Luck
0 votes Thank Flag Link Sat Dec 28, 2013
As of yet, it's still not on the market, but normally the bank will have several things done before putting on the market, like an at least 1 appraisal and a few BPO before listing it. If that recent a auction date the transfer has not even shown up in county records yet. Keep an eye on the property and it should be back on the market within a month or two, as most banks are very backed logged with many foreclosures. Someone may have as sign at the home as they are assigned by the bank to keep an eye on it, and may be the agent that will list it once the items that are required to be completed before it can go back on the market. Check with them, the only data I see is the Trust company that completed foreclosure paper work, and filed the notices of default on the property is all is now in the county record.

Best of luck.
0 votes Thank Flag Link Mon Aug 17, 2009
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