Home Buying in 33134>Question Details

Marta Muniz, Real Estate Pro in 33144

I am looking for a house in Coral Gables. How can I find one that is a foreclosure as soon as it gets on the market.?

Asked by Marta Muniz, 33144 Fri Jan 29, 2010

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17
Matha,
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.
Thank you
Oliver von Gundlach
305.799.4011
RealtorOliver@aol.com
2 votes Thank Flag Link Wed Sep 21, 2011
Hi Marta-

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!

Sandra Rathe
954-547-4601
RAthe.S@EWM.com
Web Reference: http://www.SandraRathe.com
1 vote Thank Flag Link Fri Jan 29, 2010
Ask a realtor to put you on an auto update list
0 votes Thank Flag Link Thu Oct 3, 2013
you should definately work with a Realtor who is experienced in Foreclosures and shortsales.
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 cookie@workingtitlellc.com
0 votes Thank Flag Link Fri Sep 13, 2013
Marta,

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.

thanks,

Alfonso Llanes
al@worldwideproperties.com
0 votes Thank Flag Link Thu Aug 15, 2013
Working with a Realtor with access to the MLS will give you just that opportunity. As soon as any property is listed with a Realtor, the listing is published to the MLS.

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.
0 votes Thank Flag Link Wed Jun 5, 2013
Good evening Marta,

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!

Trevor Curran
NMLS #40140
0 votes Thank Flag Link Thu Sep 27, 2012
YOU NEED TO FIND A REALTOR THAT IS ON TOP OF ALL REO'S IN THE AREA YOU ARE INTERESTED. A FLORECLOSURE PROPERTY DEAL COULD TAKE MONTHS AND NOT EVERYBODY IS WIILING TO WAIT LONG TO GET PAID, REMEMBER THAT THE REALTOR ONLY GETS PAID WHEN THE TRANSACTION IS DONE COMPLETELY.
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.
0 votes Thank Flag Link Thu Sep 27, 2012
Marta,

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.
0 votes Thank Flag Link Thu Sep 27, 2012
Hi Marta Muniz,

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 don’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
Web Reference: http://www.SLeonRealtor.com
0 votes Thank Flag Link Wed Mar 21, 2012
Hello Martha,

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.

Sincerely,

Maria Jose Donoso
786 237 8882
0 votes Thank Flag Link Sun Jan 22, 2012
Good Afternoon Ms. Muniz,

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.

Lila Lopez
RE/MAX Advance Realty
305-772-2521
0 votes Thank Flag Link Sat Oct 22, 2011
For a FREE up to date foreclosure sales list or to avoid an foreclosure reffer http://www.realpike.com
Web Reference: http://www.realpike.com
0 votes Thank Flag Link Thu May 12, 2011
Marta,
Working with a Realtor you trust is the best way to get started. They can provide comparison data as well as information on how the system works along the way. Let me know if I can help.
0 votes Thank Flag Link Wed Feb 17, 2010
I agree with my esteemed colleagues that it is best to work with a knowledgeable realtor who knows how foreclosures "work".
Manon Mohammady
0 votes Thank Flag Link Fri Jan 29, 2010
Hi Marta,
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.

realejoubert@aol.com
786.285.4962

http://sef.mlxchange.com/Pub/EmailView.asp?r=1213855420&…
0 votes Thank Flag Link Fri Jan 29, 2010
Get on an Auto Listing updater from a realtor...is the best advice
Web Reference: http://www.resf.com
0 votes Thank Flag Link Fri Jan 29, 2010
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