I've looked over the answers you have already received. First of all, as real estate professionals, we are all going to give you basically the same advice about how to purchase a home - foreclosure or not. There are some additional steps taken with foreclosed homes, and an experienced agent can walk you through the process.
Second, I'd like to compliment you for being proactive in arranging your financing. If your timeframe is 30 days, you will need to get started right away as even a prequalified loan is subject to the same underwriting time constraints our industry is currently dealing with... Due to the number of refinances, short sales, and foreclosures, and the constraints of tightened guidelines, lenders are rarely able to fund in under 30 days, and sometimes run over the contractual date. Please make sure your agent and your lender are organized and working together.
Third, You mentioned Kennedy and Sunny Hills High Schools. My kids are all recent graduates of Kennedy ( I'm also an alumni, but that was a long, long time ago), and the area you specified is not in the district bounderies.
Kennedy boundaries are: Houston Street on the north, Knott Avenue on the east, (between Crescent & Houston), Lincoln Avenue on the south and the L.A./Orange County border on the west.
Sunny Hills is also a terrific school, and depending on where you buy, you may be in their bounderies.
The attendance area includes parts of the cities of Fullerton and Buena Park. Sunny Hills High School receives students from four component elementary school Districts â€“ predominantly from the Fullerton School District and the Buena Park School District, with some students coming through District open enrollment from the Lowell Joint and La Habra City School Districts.
Fourth, there are currently 8 homes meeting your guidelines of bedrooms, baths, general price range and Los Coyotes CC area. Five of them are short sales, so if your time constraints are 30 days, I would suggest you look at the other 3.
I would be happy to answer any questions you have about the area, it's ammenities, etc. I can also fill you in on homes that would be in the Kennedy district. Feel free to email me at TerryCrisler@pruOC.com.
Prudential California Realty
if you are still trying to figure this out...ask a Realtor who actually lives in the area...me. Only buy a home that is actually on the MLS or a for sale by owner....many times there is alot of disinformation going on in real estate and there may be title or ownership issues if you go through illegitamate means. Be sure your lender is a direct lender as many sellers do not accept brokerage approvals. Dont fall for the rebate gimmick...how about just negotiating a better price? Lenders do not always like the idea of this program and participating in it may deny your FHA loan. They need to see all the money on the table.
First, you're right. Terry gave a great answer and sounds like she's very familiar with the area.
While the commissions come out of the seller's proceeds, that amount is built into the price of the house that the purchaser is paying. If a discount broker is giving you back $8,000 to $10,000 that is a definite saving.
As far as the one upping goes, I've been fighting off the critics for almost five years now and I get defensive when it's assumed that, because I'm willing to work for a paltry $5,000 when I sell a house, that i must not do a good job. Especially when I check out the critic and he's not a even member of the MLS and doesn't have an active license.
It sounds like the other two agents are more interested in one-uping each other than helping you. My suggestion is to find the agent that will help you find what you want and actually knows the area.
By the way, it's my understanding that the seller pays both agents fees, so using a full service agent or a discount agent cost you the same amount... nothing.
Don't let the naysayers scare you from saving thousands of dollars. I sell dozens of houses to very satisfied clients. Go to my website and read the testimonials at http://www.wehelpubuy.com. You'll get high quality service from someone with an active license..
What you need to beware of is people selling real estate without an active license. For example, if you go to http://www2.dre.ca.gov/PublicASP/pplinfo.asp and enter Kurt Steinhebel, you'll find his license is "NBA" which means -
"The license is in a non-working status. The licensee may not perform acts for which a real estate license is required in California."
If you check mine you'll find that I'm actually licensed as a broker and ready to help you.
To Kurt - people in glass houses shouldn't throw stones.
Beware of any gimmick that promises cut rate pricing.......Imagine if your Dr. asked you to do all the work and then he would give you a discount.
MY FORECLOSURE AGENTS have insider information....which you get for FREE as a buyer....along with a full-service action plan.
This is Orange County real estate buying NOT Wal-Mart.
Kurt Steinhebel/Jason Rowland
Century 21 ** Orange County ** FORECLOSURE SPECIALISTS
You're going to need to be very patient as there is a lot of competition for foreclosure properties right now. I was just turned down on a Buena park property that was listed at $299,000 and they received 70 offers. Coming in at $30,000 over the asking price didn't even get us a counter offer. All homes that are competitively priced are getting multiple offers.
The REO inventory is very low right now but the situation should increase as the banks release the next wave of REO's into the market.
Sounds like you do a lot of your own research and would fit right in to my rebate program. I get the first 1% of the commission and give my client the rest back as a rebate. You get back 1.5% to 2% of the price of the house you buy.
Call me if you want more information.
Real Estate Commission Rebates @ http://www.wehelpubuy.com
Don't panic....there are many homes which can be handled in 30 days. Short sale might be tough, but some of those are already approved and could move fast. Also we are beginning to see sellers with equity come into the market and of course bank-owned homes which can close in 30 days.
As far as financing....FHA is a good option...if you have money to put down, you might also look into conventional financing. I'm not a lender, but have someone I could recommend who could talk with you about that.
I have some more information on my website...but basically we just have to position ourselves strongly...sometimes that's over asking price. I need to talk with the agent to see what has happened on the home before we write any offers at all...so we know. There is also some schmoozing involved :).
I'd be happy to work with you on this if you like.....Just send me an email and I'll get you some listings to start with.
I am a Century 21 FORECLOSURE specialist and my own children attend school in Buena Park.
There is a specific game plan that must be followed to buy a foreclosure home.
As an insider who works for the banks ......our team has those secrets.
Some of them include:
1) Writing an offer on many properties at once.....
2) seeing a home and writing the offer on the SAME DAY
these are just 2 of a long list of moves a buyer can make to beat out the competition
Let me know if you'd like to hear more.
Kurt Steinhebel ** Foreclosure Agent
Century 21 ** Orange County