When the bank is finished with the foreclosure process they list it with a REO agent. The agent then enters it into the MLS system and those home can be veiwed with your agent. Sometime Trulia pulls info from other sources that list homes that are in the process of being forclosed on. Those homes are currently not on the market for sale. Your agent can alert you when they do go on the market.
Was there a home in particular that you were interested in?
The very first step in the home buying process is to get Pre-Qualified. After that has been completed, you would have your Buyer's Agent submit an offer to the Listing Agent. The Listing Agent then submits it to the seller for their consideration.
To get Pre-Qualified, you can submit your request online at http://www.rodneymason.com.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing
I just posted about this - http://hankmillerteam.com/2012/09/04/foreclosure-and-bargain it's worth a read.
Focus on the home, price and comps - not on whether or not it's a foreclosure. Complicating all of this is that many foreclosure listings on these public sites are completely inaccurate. If you want to quickly zero in on all of this, drop me a liine and we can focus you.
Fannie Mae supports this and encourages homebuyers to seek financial help, if necessary. A qualified housing counselor is a great resource â€“ he or she will be well versed in the kinds of programs available in your area. To find a qualified housing counselor, go to http://www.hud.gov.
Be smart, do your research! Unleash the power of the Internet to learn about neighborhoods, types of homes, prices, schools, shopping, and other information that will help you purchase a home that best meets your needs. A great place to start is http://www.homepath.com. It lists, in detail, all of Fannie Maeâ€™s properties located in neighborhoods across the country.
You can even create a personalized search which lets you be among the first to know when a new property is coming on the market in your area. Click on â€œAdvanced Searchâ€ and youâ€™ll find a host of ways to search for information. Once youâ€™ve found a home you like, http://www.homepath.com contact your realtor to make an appointment to see the property.
Your real estate agent is a great personal resource for getting answers to as many questions as you can think of. Homebuyer assistance programs: programs out there to assist homebuyers. Some of them are listed on homepath.com under â€œSpecial Offersâ€
Fred Yancy, Broker
First determine if you are talking a pre-foreclosure,short sale,auction,or an actual foreclosure property.
If foreclosure what the seller will and won't do will depend on if you are dealing with a local,regional,or national bank,Fannie Mae,Freddie mac,HUD home,etc.
These sellers are view disposing of their properties differently.Also you have to look at if you are buying cash at the courthouse steps and also defining in you are buying to rehab and resell (flip),rent out and hold,or live in it yourself as a homeowner.
Best thing is to find a qualified local real estate broker who is familiar with these types of properties.You must have financing lined up and if you don't when the deal comes out you will lose to someone else.
Many less foreclosures these days as banks are doing more short sales.It gives the seller a better way out for credit and also a non-hostile disposal of the property to a new buyer.The banks avoid the bad press of foreclosure as well.
Buckhead Home Reatly
Serving the Metro Atlanta Area