Foreclosure in 11566>Question Details

Nicole, Home Buyer in Merrick, NY

We are interested inn purchasing a forclosure home in Merrick, NY. Who can send us some listings maxi $200k ?

Asked by Nicole, Merrick, NY Tue Mar 23, 2010

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Allen Bauman’s answer

I would be happy to help you as would any of the agents answering your question. But what we do for our customers is not that simple. You will not get the help you are looking for unless you speak to an agent first, who will also be able to tell you if your goals are realistic. Also we must know if you are qualified for the type of property you are looking for. Also when you are sent info about a low priced foreclosure in a good neighborhood the home may not be mortgageable because of condition or other reasons. Are you ready to pay all cash for such a home?
I am willing to help you but I must have a short conversation with you first. Call me; no obligation.

Allen Bauman
Century21 Yve R. E.
Licensed R. E. Agent
NYS Certified Residential Appraiser.
0 votes Thank Flag Link Tue Mar 23, 2010
Keep in mind that not all foreclosures are such great bargains--some do need extensive work. Currently, MLS is showing a total of 108 available properties, ranging from $289,900 (a foreclosure) to $1,590,000. If you don't have an agent consider the services, your agent can keep you informed regarding any property--don't overlook traditional sales,as some may turn out to be better bargain.
0 votes Thank Flag Link Tue Mar 23, 2010
Nicole, you also have to try to be realistic for the market. Right now the lowest listing in Merrick is $289,900 and it is a bank owned property. Also, taxes on the property are $9,926. The lowest price right now in Bellmore on MLS is $268,900. There are some brokers who do not put their things on MLS, but this will give you an idea. There are a few areas of Nassau County where you could possibly find something for that price range, and you can go to and see if anything comes up. Those are Fannie Mae owned properties. There are some homes in Freeport, Uniondale and Hempstead that are single family homes in that price range. Once in a while you will find something that is a 1 bedroom bungalow that needs a lot of work.
If you are willing to go further out in Suffolk County, that price range is more realistic.
0 votes Thank Flag Link Tue Mar 23, 2010
Nicole - If you are looking to get a great deal then I suggest you hire a buyer's broker & tell them what you are looking for & they will find it for you if it is out there. Looking around on your own is like trying to give yourself a root canal. It is possible to do it without profesional help BUT very painful.
0 votes Thank Flag Link Tue Mar 23, 2010
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