Foreclosure in 90703>Question Details

Peaceandpowe…, Real Estate Pro in Bell And Hurd, Paine...

What is the process of buying a house that is foreclosed or at an auction?

Asked by Peaceandpowerparenting, Bell And Hurd, Painesville, OH Wed Sep 26, 2012

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Sheryl Arndt’s answer
Do you have down payment and closing costs saved? If not, if you have a minimum 580 fico score, you may qualify for CHF Access half percent down payment program. This can also contribute towards your closing costs to make your offers stronger without asking for them to be paid by the seller and or stacking the costs. I can pre-qualify you within a few minutes by asking a few dozen questions and you will know what program you qualify for. I specialize in Under 640 Fico Score Loans. I also offer credit repair at no cost to raise fico scores to qualify. Here are brochures and a needs list to qualify in minutes.

Once you have a pre-approval or DU approval, you can go out shopping and looking at homes of your choice and submit offers on homes of your interest. It is a fairly tough market out there as there is low inventory and prices are rising. The rates are at record rates so it is time to buy now.

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Sheryl Arndt, Broker – Loan Officer
DRE# 01440252
NMLS# 297251
760-486-4225
0 votes Thank Flag Link Tue Oct 23, 2012
Peaceandpowerparenting,

Exactly what are you trying to do? You have asked a series of vague questions that seems that you want to apply to a specific situation. Why not just explain what you're trying to do and maybe we can help? You REALLY sound like you need to hire a REALTOR ®

Joe Stone - Realtor ®
Exclusive Homes Realty
682-777-0836
0 votes Thank Flag Link Sat Sep 29, 2012
You're asking so many different types of questions on here over the past so many days, please email me directly with your situation & I can answer every possible question or concern you have. One of your first questions was "I'm short selling my house", then you're asking about 'stalling the auction date"..... It sounds to me like, if you have a Realtor, maybe they don't know what they're doing & are not able to answer the questions you have.

I am an expert in short sales, time lines, when this & how that.

I would be happy to talk to you about this some more, I don't look back on this same Trulia posting for answers after mine.


Emily S. Knell
EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Realty ONE Group
100% short sale success ratio
& I can Prove it
0 votes Thank Flag Link Thu Sep 27, 2012
Two entirely different questions:
To buy at an AUCTION; the Trustee Sale, you will need to bring all CASH; are you prepared to do that?
The houses at the Trustee Sales usually go back to the Bank, as they offer the amount of the LOAN, which is more than you would offer.
To buy at a private AUCTION; you would need to be very, very careful; usually you do not know what you are buying, do not have the opportunity to inspect, do not know about any LIENS, and basically have no protections.
To buy a FORECLOSED house, you would need to have a Buyer's Agent, to help and protect you: The Banks are so careful about this, that they are paying that Agent's commission for you.

Good luck and may God bless
0 votes Thank Flag Link Wed Sep 26, 2012
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