Home Buying in 63755>Question Details

jeromeoakrid…, Home Owner in Jackson, MO

How do I post a bid on a foreclosed home?

Asked by jeromeoakridge, Jackson, MO Thu May 9, 2013

Bank's are extremely hard to work with and can take weeks to give an answer.

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Answers

4
There are different ways to buy a foreclosed home.

If it is listed with a real estate agent: Then you will need to submit all offers through that agent.

If the home is foreclosed on but not listed: Then you only option is to see if it is listed for sale on their website. If not, then you will need to wait until the lender decides to list the home. In most cases, you cannot go through the bank directly but must use a real estate agent.

If your are bidding on a HUD home: You will still need to go through a HUD approved agent.

If you are bidding on an auction: You can do this on your own. Just make sure you do your research and know what you are getting into. Auction homes can be tricky and come with lots of hidden problems.
0 votes Thank Flag Link Fri May 10, 2013
For many foreclosures, you need to use a realtor who is registered with that foreclosure program.
0 votes Thank Flag Link Thu May 9, 2013
Buying a foreclosed home can be more complicated than other sales. That is why you need the help of a local agent who is familiar with the process.

Click on the link below for information on some homes in Jackson that are foreclosures or short sales. Note that nearly half of them are already under contract, so it is important to work with an agent who can help you find properties when they are first listed:
http://cgcbor.paragonrels.com/publink/default.aspx?GUID=dfa5…
0 votes Thank Flag Link Thu May 9, 2013
Most foreclosed homes are listed by a local agent. Do you have a particular home in mind?
0 votes Thank Flag Link Thu May 9, 2013
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