I'm sure you have determined in what area you would to buy a home. Interview at least three real estate agents and pick the most professional agent with local knowledge. Your real estate agent will provide you with all the newest properties that come available and also keep you updated on price reductions etc.
Please let us know when you are interviewing as we would like to apply for the job.
Oliver von Gundlach
Realtors have access to all the newest listings as soon as they go into the system. My best advise to you is for you to find a realtor that you like and work with her. She will be able to have up to date information on all the new foreclosures being listed and will have the ability to take you to see them. Good luck!
Our office Working Title LLC in Coral Gables Florida is very experienced in Closing REOs shortsales and foreclures and we always recommend to our buyers tuse a qualified realtor . Please feel free to contact us with any questions 461 9682 firstname.lastname@example.org
The best way to find out when a foreclosure is available is to find a realtor in the area. We have access to all listings that come available on the MLS, if its not on the MLS you can go to the city's website to see when foreclosures will be available for auction.
It is important to understand what a foreclosure is. People commonly speak of foreclosure as a type of property. A foreclosure is a process that takes place when the owner default on the loan payments at which time the lender begins the foreclosure process. This process can take a long time and the property may never be foreclosed on. Prior to foreclosure, you have a short sale or a pre-foreclosure state.
One may negotiate on a foreclosure during the process, but one can not buy the property until it is foreclosed on. This is because in Florida the owner hold title to the property until then. Once a bank/lender has taken possession of title (foreclosed on), the property becomes an REO. This is when the property is owned by the lender (possesses title) and title may be transferred to a new owner.
If you need further information, you may contact me at 786.302.0351
Today, many lending institutions own foreclosed property (REO) and are listing them for sale with agents across the state. In most cases, particularly, Coral Gables, they are being listed for very close to market value.
I've been helping First Time Buyers for 22 years as a mortgage professional and I will tell you what I have always told my clients here in New York: If you are a First Time Buyer, steer clear of foreclosures and short sales.
Foreclosures are someone else's headache. The home probably has not been well-maintained and you're a First Time Buyer adjusting to paying a mortgage. Do you really want to walk in the door to someone else's deferred maintenance that YOU will have to pay for? Also, if you're thinking there are deals to be had in terms of lower prices, mostly those "deals" go to professional investors who can pay cash, negotiate hard with a Lender, and close fast.
For Short Sales, my attitude of late is that First Time Buyers should steer clear. Short Sales tend to be a better deal for the homeowner than for the Buyer. You'll wait MONTHS for the homeowner's Lender to approve the short sale; maybe as long as Six or Seven Months. Meanwhile, you're stuck in a contract to buy that home. I closed a short sale recently with a Buyer who, after seven months said this at the closing table, "I don't even want this house anymore."
And he didn't even get the "deal" on price he thought he was getting! The house appraised for only slightly more than he paid for it at the short sale price. He walked into this deal thinking he was buying a home for $100,000 less than it's value. In the end that wasn't the case.
There are plenty of motivated Sellers with their homes listed on your local MLS. Go find a good Local Mortgage Banker, get prequalified, then find a great, experienced Realtor, and buy the home you want at the price you're willing to pay. It's a Buyer's Market, after all!
I OFFER YOU MY SERVICES IF YOU DO NOT HAVE ALREADY A REALTOR. YOU CAN CALL ME AT 786-406-0503, MY NAME IS VIVIAN DE MARCHENA AND I AM A REALTOR ASSOCIATE WITH FORTUNE INTERNATIONAL REALTOR IN CORAL GABLES.
The best option to ensure that you will receive these updates immediately, is to work with a buyers agent and have them set you up on what's called a "drip feed". Once you provide them with all your criteria, they can set up an automated search for you in there MLS and once something becomes available on the market that matches your critiera, it will be emailed to you automatically.
You should try working with an agent who can provide you with direct MLS access. This will allow you to search in real time. Trulia, Zillow and Realtor.com are all great sites however, they have a 48hr delay on the feed from the MLS.
Also, you may want to consider an agent who works with pocket listing which are Top Secret foreclosure listings. This can be very beneficial, as these properties are only available to certain agents and you donâ€™t have all the competition as those that are listed in the MLS.
If you have any additional questions feel free to contact me personally at StephanieLeon@avantiway.com
How is it going with your search? If you have not found your dream home yet, please call me. I have a list of properties (REO'S) in Coral Gsbles I can provide you with asap.
Maria Jose Donoso
786 237 8882
As you have seen by all of the responses you will want to work with a realtor for your search for a home, whether it is a bank foreclosure, a short sale, or even the traditional non-distressed property. In working closely with a realtor that knows what your home search needs are, you will be in the best position to know when a new listing appears on the market. When I work with buyers, I discuss with them what their home search needs/requirements are, such as room count, features, size, location and the all important price range. In speaking with buyers, I like to get a sense of the style of home, features they are looking for and select the homes that best meet the requirements, not just randomly sending all homes within a price range. Your time is valuable and my job is to sell real estate. Part of that process is to determine with as much specificity what you are looking for and then ensuring that you have the most up to date market information. Once I have set up a buyer's search, should any new homes appear on the market they will get that information pretty much on the same day, in some cases within a couple of hours. If I may also suggest, if you will be needing financing to purchase your new home, you will want to have a loan pre-approval handy as this will also be needed in order to make an offer on a home you find meets your requirements. Good luck on your home search, and if you are still in the market at this time, I would be more than happy to assist you.
RE/MAX Advance Realty
Please click on link below, so you can see some bank owned properties which have already been repossessed by banks. I also will more that glad to send you updates when more become available, and prices come down. In this way you'll have fresh and updated info all the time and save time. By the way, my services are free of charge for you, and my office is in Coral Gables.