Foreclosure in 75063>Question Details

Trdrwp, Home Buyer in 75034

any idad about gohoming.com, any one deal with them.

Asked by Trdrwp, 75034 Wed Apr 18, 2012

Hi,
I want to bid for a home in gohoming.com, but I saw "now showing, property may be occupied". will that mean its my responsibility to evict the tenant/who ever living in that property. Or the bank will hand over the property as empty. need some help on this, so that I will bid.
Thanks

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Yes... bid appropriately.
They don't always know if they are occupied or not. Sometimes it is hard to tell.
Could be the past owners, could be renters.
You would have to evict, if there is someone in the property.
If it was the past owner, probably not hard to do.
If it is a tenant, there could be a lease in place.
Often their prices are too good to be true. If you are thinking about the one on Tioga, that could be the case. If I remember correctly one of my clients bid over the asking price, but they rejected the offer.

Often you cannot get inside to see the home. So no inspection, no observations, etc. So difficult to know the condition. You might get a great deal, then again you might get one that is missing everything. You just never know.
0 votes Thank Flag Link Sun Apr 22, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Before bidding on anything, you got to really know what the market price is and why it maybe ending up selling lower than the market. Neighbors are really good sources of info - if there was a flood, or fire etc.

Title and liens checking is super important also: recently had a situation when the bank was selling this house for 165K (foreclosure), and there was a lien on the house (from the city) for 165K, totaling 330K, with the market price in average condition being 230K...Have to watch out for these things...
There was no notation on the MLS about the lien from the city.

Good luck,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Sun Apr 22, 2012
I am currently doing my home work on gohoming because I want to bid on something when the price gets low enough. I found this site interesting.

http://activerain.com/blogsview/3128392/altisource-gohoming-…

Good luck
Bill
0 votes Thank Flag Link Sun Apr 22, 2012
I would recommend ALWAYS use an agent when purchasing any property . Undetermine all the what if's and etc. I can't speak on behalf of any parties professional obligations UNLESS I was involved to work on all details.

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Sat Apr 21, 2012
GoHoming is an interesting operation.

You are correct....you typically cannot see the home before you buy. That means no inspection, etc. You bid online. Also the property may or may not be occupied when you get it. You may have to evict the current resident.

So bid appropriately. The price may be low, but you may also get some headaches. I've seen some great deals on their websites.

If you want help with all these issues, I would like to be your agent. It will ask you to name an agent when you bid. You can bid yourself or you can have us bid for you.

Bruce Lynn
Keller Williams Realty
0 votes Thank Flag Link Wed Apr 18, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
I am sorry there is a typo in my question its "no showing, property may be occupied", if any one deal with gohoming, I wood like to know how they will handover the property. Do I have to deal with evicting the people living in that house or the back will do that.
0 votes Thank Flag Link Wed Apr 18, 2012
You need a real estate professional to assist you. I could never comfortably advise anyone to consider purchasing a property with a situation like this without face to face counsel. There are simply too many facets, and too many pitfalls, and too many potential situations, to weigh in on a question of this nature on a forum like Trulia.
0 votes Thank Flag Link Wed Apr 18, 2012
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