Carrie, Home Buyer in South San Francisco,...

I am interested in this home on Julie Lane going into Foreclosure.

Asked by Carrie, South San Francisco, CA Mon Feb 22, 2010

What is the status now? What is the next steps

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The Laugesen Team’s answer
Dear Carrie
I have not been able to find this property anywhere. What price point and what bedroom count,??? I amy be able to find you a similar property in that area. Give me a call if you are not already working with an agent.

Good Luck

Denise Laugesen
Cashin Company
#1 Producing Agent
DRE 01011089
1 vote Thank Flag Link Mon Feb 22, 2010
First and foremost find a realtor who knows Short Sales. Make sure you asked them detailed questions to make sure they can outline the process to you. If they can't outline the process for you move on to the next one because that is a sure sign of trouble.

Also make sure they have experience with these type of properties and has a track record of success. I know David Tapper with Cashin in San Mateo has done several short sales and would be a good resource to get all your questions answered.
0 votes Thank Flag Link Fri Feb 26, 2010
Hi Carrie,

If you're referring to 2307 Julie Lane, it is now pending and it is a short sale and their estimated closing date is 3/31/10. If it is not then you might want to check out the county to see if there is a sale date for the property that you're interested in. In any event, you should have all of your finances ready to make a purchase, especially if you're planning to buy a foreclosure.
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0 votes Thank Flag Link Mon Feb 22, 2010
Hi Carrie,

I can't find the foreclosure property in Julie Lane. How did you find about this foreclosure? There is only 1 that is currently listed at Julie Lane but it is ahort sale and also pending. It was listed for 450,000 3BR and 2 BA. I don't know how much it will close for and at this point it still pending so I can't tell at what stage is the listing agent with the sellers banks negotiator.

I hope this helps a little bit. If you have any questions please fell free to email or call me at my information down below.

Cristina Weglinski
Realty World Avant Properties
0 votes Thank Flag Link Mon Feb 22, 2010
Unless the current owner is willing to short sale the house, then you need all cash at auction and even then starting price might not be reallistic. If thats the case thebank buys back and house gets listed as mentioned below. You can get some more foreclosure info here.

0 votes Thank Flag Link Mon Feb 22, 2010
Carrie there may not be anything you can do until it goes through foreclosure, you should first check to see if it is listed, then need to check for when the auction is scheduled and research that. In most cases the seller owes too much and cant sell it before the auction and wont sell at auction as they owe too much. I these cases the bank buys it back and then will place it on tehmarket with a local broker. You can hire a buyer agent to do all the research for you and look out for your best interests. Once the house is vacated, you will need to check to see when it is assigned to a realtor, they will post their contact info on the door. As with any foreclosure you need to do your homework, make sure you are preapproved now and do any inspections before making an offer as it is sold as is. good luck with your search
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0 votes Thank Flag Link Mon Feb 22, 2010
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