Hello Lisa

My name is Jeannette Neerpat and I have called Tamarac my home now for the past 11 years. I agree with the others at opening your options to more than the foreclosures. Yes there are great deals with them but at the same time banks are not negoitating as much as motivated sellers. Many sellers are helping with down payments or with closings cost.

I would be honored to help you with the purchased of your first home. I would love to take the time to go over the steps it takes on the purchase from find the right mortgage to inspections to walk thrus and so on.

You can reach me at 954-993-4104 or you can email me. Lookk forward to hearing from you.

Start by asking people you know who have made a home purchase what their experience was like with their realtor and whether or not they would use that realtor again. Then interview a few of those realtors. You will find a good fit; someone who is willing and able to guide you through the entire process.

Hi Lisa, You didn't mention what stage of foreclosure this property is in. If it is a "REO" or bank owned property then it would not be much different than any other typicle home purchase. If it is pre-foreclosure then it is most likely a short sale. Short sales means the seller owes more than the property will sell for. That's a much different animal. If you would like help contact me.

The BEST advise is to hire a REALTOR to represent you as a BUYERS AGENT. Depending on state laws, a Realtor can represent the Buyer, the Seller, both (disclosed dual agency), or act simply as a transaction coodinator. How your Buyers Agent is compensated depends on your contract with him/her. Usually they are compensated by the Seller-even though they are representing you. Your Buyers Agent can help you through the mirad of paperwork and mortgage financing options available in yout area. Good Luck and welcome to the American Dream of Home Ownership!

Hello and good morning Lisa ,

Congratulations on your desicion to buy your first home , it is a very exciting time ! This is a wonderfull opportunity to be a buyer , you can really find good value in our market . Of course you are right , you should always search and work with a an agent that you can trust and that has the experience and knowledge . The home buying process in fact does take hand holding , market knoweledge and of course negotiating skills as well as experience. I will be more than happy to anwer any specific questions or concerns that you may have . Call me at your convienience 954 394 7996.
Regards,
Dianne Eckert
EWM Real Estate Inc

Hello Lisa:

My name is Michael Citron. I am a seasoned Realtor in South Florida and have called Plantation, Florida home (very close to Tamarac) for over 25 years. I am also experienced with the Foreclosure & Pre-Foreclosure properties. I agree with Paula Bean that you should open your search to all properties that match your criteria, not just Foreclosures. Many motivated sellers with still large amounts of equity are trying to sell their homes at record-low asking prices.

With a foreclosure, the bank will not negotiate as much as a conventional seller. But, foreclosures can still be a viable opportunity if the home meets your home-buying criteria and does not need a lot of work, which the banks are not willing to pay as much for as a convention seller.

I would be honored if you would allow me the opportunity to research the subject property that you are referring to in Tamarac. I would also like to speak with you and find our more on your home buying criteria. Please give me a call at 954-609-0591 or email me at michaellcitron@aol.com. My team and I look forward to working with you soon. Michael Citron, RE/MAX ParkCreek

Hi Lisa,

I suggest that you contact 3 different brokerage companies in the area and interview Realtors who work with foreclosure properties. Keep in mind, that if a lot of work is needed to the property, and you don't have extra funds for the repairs, this may not be your best avenue.

Make sure the Realtor is experienced and you would enjoy working with them for a long period of time.

Good luck.

Phil

Hi Lisa

I'm very familiar with Tamarac having lived there for awhile. I currently do work in Tamarac and nearby areas and I'd be happy to help you.

I have found that sometimes a better deal can be had with a home that has been listed for awhile and whose sellers are very motivated. Short sales and foreclosures, while at first glance, may look like a bargain, are not always...there are often pitfalls...To be sure, this is true of occupied resale homes as well; however with a foreclosure, or a short sale, it is important to be represented by a very knowledgeable, responsible agent., as the rules are not the same.

Please feel free to contact me at 954-303-5158, or betteabrams@aol.com and I'll be more than happy to speak with you.

This is a great time t buy. My company has an in-house lending and title company to guide you through the process. Call me a 954-559-6411 and I will refer you to them. And I can help you with the foreclosure.

you know what they say "if it seems too good to be true, it usually is" lol!
I'll tell you the good, the bad and the ugly.

Most of them are 'as is' so you have to spend money on home inspection, and may not buy.
Some of them are awesome deals
Banks don't want to 'own property' so they are easier to deal with, BUT, they also like to get highest price, just like any other seller.

I still say look at EVERYTHING and take your time. This is a big financial decision, and if you don't have to be in a rush, then DON'T. Get a good agent who will show everything to you, knows foreclosures, and is very patient.

Best luck to you,
Paula Bean
Orlando FL

Lisa

If the foreclosure is what you would like to know about, please call me at 954-993-4104 so I can research this property for you.

Thanks for the great responses ... I have been watching the marketplace for several months now and tracked many houses. Even went to a few open houses. This foreclosure is almost "too good to be true". Hence my qualms about it.

Lisa,

Excellent advice by Phil, Michael and Jeannette!
Open up your options, find your dream home and don't limit it to foreclosures.
As we speak there could be 100 sellers more motivated and with a better deal than
you are looking at.

Get a great agent - and let them help you. You should get in touch with Mike and Jeanette, they are in your area, familiar with what you want and can help you find the perfect home.
Pick up the phone and go girl ;-)

btw - Please let us know how this works out for you. It drives me crazy not to have follow up ;-) I always wonder what happened, but then again I'm one of those people who like to follow up and see if my advice worked or not.

Can't wait to hear when you move into the house of your dreams!!

Good luck!

Paula Bean
Orlando, FL

Phil is absolutely right. I would suggest starting out with a mortgage lender first, then you will know how much money you can spend. If you buy a foreclosure - they will also insist on an approval letter.

Last - but not least, don't limit your options to foreclosures, look at auctions, mls listings, etc. Bank owned foreclosures are sold 'as is' - which Phil mentioned. You can have a home inspection which will cost money and if you find out there is too much work to be done, you will be out that fee.

I would suggest to find an agent in the area you want to work in who knows foreclosures. Do a search on Trulia under the foreclosure category and in the area you want to live and see who comes up. Also see what other properties are for sale in that area, the agent with the most signs is usually a good one to interview. ABSOLUTELY make sure that you work with your agent as a buyers agent, they are bound by the code of ethics to put your best interest in mind.

Best of luck to you!