Home Buying in 33559>Question Details

A.j, Home Buyer in USA, Mobile, AL

What does the these realty trac forclosure mean on trulia?

Asked by A.j, USA, Mobile, AL Sun Mar 18, 2012

Sometimes when I search on Trulia I find these forclusure listings who are not fully shown any details..Does that mean they are not on market yet and they will be coming on market soon?why they past them if we cant get no address of property ?

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4
Realty Trac:
Look at the posting for that home again and find the logo for Realty Trac (black and red). Most Times when you see that on any listing it means the price you see is NOT a sale price, and the home is probably not for sale as of yet. It is just a posting of what the Bank/Lender had to pay the courts to regaing custody of the home when they foreclosed on it. Next that Lender will take several months to put the property on the market at "Market Value for the specific community" and it will be advertised as a Foreclosure or an REO.

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Tony Vega
Charles Rutenberg Realty
1 vote Thank Flag Link Mon Mar 19, 2012
This properties that Realty Trac put out here are currently not for sale. When they do come on the market, they aren't at the advertised price. The price that you see is the outstanding balance owed on the property.

It is just another placement by Realty Trac, a subscription based service that trolls public records and gets fees paid for access to their information. The price that they place on the property is usually nowhere near realistic. The information that RT uses is not proprietary and is easily accessible. Any agent has access to the public records and can provide the same service without the fees.
0 votes Thank Flag Link Fri Feb 8, 2013
Realty Trac uses public record information to get buyers to contact them for membership. They then try to refer the buyers to realtors who sign up for leads. The prices they show usually reflect the amount owed on the mortgage and they tend to show the 2nd mortgage which is always is a smaller amount. The homes may or may not be on the market. The only way to get a true list is to contact a real estate agent to get access to listing book or automatic emails.
0 votes Thank Flag Link Mon Mar 19, 2012
Keep in mind that RealtyTrac's information may not always be accurate and oftentimes can be misleading--you could be looking at a lis pendens property--notice of default--some of those properties may not be for sale yet, and some may never be, if the default is satisfied by the owner. If you are interested in foreclosures, work with an agent, as most properties end up being listed by a broker--he/she will have access to reliable information--also don't overlook traditional sales as some may turn out to be a much better bargain than some of the foreclosure properties.
0 votes Thank Flag Link Mon Mar 19, 2012
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