Home Buying in 90280>Question Details

Mickey Mandi…, Home Buyer in Downey, CA

I AM INTERESTED IN THE TOWNHOMES ON KARMONT IN SOUTH GATE BUT HOW DO I FIND OUT INFORMATION ON THE ONES THAT ARE NOT LISTED ON THE MLS YET. CASH PURC

Asked by Mickey Mandina, Downey, CA Wed Nov 24, 2010

WHO DO I TALK TO TO MAKE AN OFFER. IF I AM INTERESTED IN ONE I COULD SAVE THE BANK MONEY BEFORE THEY HAVE TO LIST IT WITH AN AGENT.. THIS WOULD BE A CASH PURCHASE

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Brian Rayl’s answer
Mickey,

On occasion there are delays or discrepancies in Trulia and other internet websites because of the way that information is gathered and collected. Trulia and the like are a great start to the home buying process, but it in now way gives you all of the information to make an informed investment decision.

Bans do work with buyers directly, but if you are not familiar with the process they can make your life a living hell, especially when dealing with the REO departments. My advice is to seek out a local real estate agent in the area that can assist you in your search. This will mean some added expenses in the home purchase, but in the end it will definitely be well worth it.

An approximate address would help, but not always. A small area can have 2-300 addresses and someone would have to check each and every one of of those to see if they were in foreclosure or not. It would be a very time consuming task and you still may not find the exact home you were searching for.

I wish you luck with your search, and if you would like a referral to a foreclosure/REO specialist in your area, please feel free to contact me any time.

Brian Rayl, REALTOR®, e-PRO
http://www.BrianRayl.com
Web Reference: http://www.BrianRayl.com
0 votes Thank Flag Link Wed Nov 24, 2010
Trulia does not give the addresses on bank owned foreclosures so I can't give you an address but I can give you an approximate address based on the map pointer you show on each location. Would this help? I have also noticed that the pointers show the same but the location selling amounts differ. Are the locations sometimes listed twice? Maybe the first one is when the bank takes it over from the owner and then again after the bank puts it up for auction. Can you tell me the process that is followed and what is the last phase of the process?
0 votes Thank Flag Link Wed Nov 24, 2010
Hello Mickey,

Most banks are not setup to deal directly with the public interested in buying a particular REO from them. However if you e-mail me the address, I can find out who currently owns the unit and if it is an REO at what point the bank is ready to accept offers.

Best Regards,
Catherine Bedrossian
Home Sales Pro
(310) 383-4212
catherineb@socalhomefinds.com
http://www.socalhomefinds.com
DRE #: 01247830
0 votes Thank Flag Link Wed Nov 24, 2010
I assume you are talking about a foreclosure since you are buying from a bank? If that is the case, all you need to do is go straight to the bank to make the offer. You can find out which bank owns the home through your area Appraisal District website and then contact the appropriate department there at the bank. If you are unsure of how to go about this process, find a REALTOR® in your area that specializes in foreclosures or short sales, as they typically know how to get a hold of these banks and know who to talk to.
0 votes Thank Flag Link Wed Nov 24, 2010
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