Home Buying in Irvington>Question Details

zhaolei.cpp, Home Buyer in Portland, OR

May I really buy this home that only taks me $1. Is there anything else I should spend?

Asked by zhaolei.cpp, Portland, OR Sun May 12, 2013

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This question was asked from this property: http://www.trulia.com/foreclosure/3079248652--NE-8th-Ave-Por…

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Realty Trac sells information to people like you that want information that think you can get a great deal. many times the information on the site is 6 months old or just wrong information. I get the list of any new homes that are for sale everyday that are bank owned. If this house was for sale I would think in today's market looking at beds and bath that it would be over $240,000. This market has changed and the great deals are today as values are going up everyday. The market hit bottom in some areas 1 1/2 years ago. I was one of 37 offers cash only off NE 12 close to Alberta, 1700 sq ft. The house had a listed price of $125,000. Do you think it would sell for $125,000? This house was on the market for 2 days and we offered $200,000 and did no get it probably redone it was worth $375,000. I can help you get educated but lots are worth $125,000+ so you will not see many homes that are livable for $100,000. Good Luck, Tom Inglesby Broker, RE/MAX
0 votes Thank Flag Link Sun May 12, 2013
That compoany makes a fortuine off people who are looking for deals. I think they border on fraud---they need a LOT of disclosure. There---I said it in public. They can sue me
1 vote Thank Flag Link Sun May 12, 2013
The information you found about this house came from a company called RealtyTrac. They are reporting that the house was foreclosed on by the lender. This property does not appear to be listed or for sale currently--not for a dollar or for any other price. I think you see the title transfer fee referenced by RealtyTrac from the foreclosure. As the saying goes, "If it seems to good to be true, it probably is."

Your best approach is to find a realtor you trust and a lender you trust. The first step is to work with a lender to get pre-approved for a mortgage, find out what loan options are available to you, and determine how much money you will need to close on a home. There are low/no down payment options out there, but you'd need to work with a reputable lender to find the loan option that works best for you and your situation.

Best wishes to you on your home search!
0 votes Thank Flag Link Sun May 12, 2013
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