Home Buying in 28273>Question Details

Lourdes Torr…, Renter in Brooklyn, NY

how I can buy a foreclosure homes?

Asked by Lourdes Torres, Brooklyn, NY Wed Apr 14, 2010

Help the community by answering this question:


I agree with the previous posts. Get in touch with a Realtor who you feel comfortable with and give them your parameters on homes and locations you would like to see. They will do a thorough search for you and show you homes that fit your needs. During this process you need to provide financial data to a lender so they can pre-qualify you so you know your buying power. This will give you confidence in making an offer and knowing that you can afford the home you seek.
0 votes Thank Flag Link Wed Jun 16, 2010
The FIRST step is to hire a Realtor who will be your Buyer Agent and will be looking out for your best interest. You do not have to pay your agent as their fee will be paid by the seller as stated in our local mls system. Then you need to get yourself prequalified with a lender. But I need to reiterate how important it is to work together with an agent who will walk you through the steps and will make the whole process seamless.
0 votes Thank Flag Link Wed Jun 16, 2010
The first step in any real estate purchase is to find a REALTOR that fits your needs and is able to communicate effectively. Once you are working with a REALTOR, the next step is to talk to lenders and get "Pre-Qualified" or "Pre-Approved" so you know what you can afford and work on a budget to give yourself a better idea of the costs associated with a real estate purchase. Once you are comfortable with your budget, start looking with your REALTOR for foreclosures and then its decision time!
0 votes Thank Flag Link Mon Jun 14, 2010
You hire yourself a great agent (for free) and then you have them set you up a search online through the local MLS. You can see all of the Charlotte, NC and surrounding area homes from our website.
0 votes Thank Flag Link Mon Jun 7, 2010
You hire yourself a great agent (for free) and then you have them set you up a search online through the local MLS. You can see all of the Charlotte, NC and surrounding area homes from our website.
0 votes Thank Flag Link Mon Jun 7, 2010

Why do you want to buy a foreclosure? Not a trick question, I just assume that you want the best value for your money with everything you want in your home. Though foreclosure offer many good deals, I have seen many homes that were better deals than foreclosures. Depending on the type of foreclosure the process can be different. Get yourself a qualified Realtor and let them walk you through the process. I will be happy to assist if you don't have an agent. You can also search for foreclosures on my web page. Good luck.

Antonio Worsham
Web Reference: http://www.aworsham.com
0 votes Thank Flag Link Sun Apr 18, 2010
Hi! Most of the foreclosures are in the MLS and realtors have access to them. You can also search for them using the search feature on my website: http://www.allentate.com/beckyross The first step in any buying process is to get your buying plan in order by speaking with a lender and getting pre-approved. You will need a pre-approval letter anyway to send with your offer. There are other deals out there beyond foreclosures. Some are even new homes. The 28273 area is near my office and I know the area well. If you do not have a realtor already to help you, I would be happy to help you. Becky Ross 704-458-2816 mobile becky.ross@allentate.com
0 votes Thank Flag Link Wed Apr 14, 2010
Generally speaking foreclosures are readily avaialble through a Realtor. They list them on the multiple listing service and any Real Estate agent subscribed to the service in that area cna do the search for you.

I have dealt a lot with foreclosures on the buying end. You are going to want to have your own representation. in North Carolina , the state is known as a buyer beware state. Which means unless you hire an agent to represent you ALL agents work for the seller. But the seller pays your agent. So you get your own representation at the cost to the seller. it becomes a win /win situation for you.

I work primarily with buyers and have dealt with a lot of foreclosure sales due to the price point they are in. If you would like representation and help in finding a foreclosed home please do ntto hesitate to either give me a call at 704-519-7895 or e-mail me back at ddicecco@cbunited.com
Web Reference: http://www.davedicecco.com
0 votes Thank Flag Link Wed Apr 14, 2010
What type of foreclosure are you looking for? HUD or Fannie Mae? There are specific search criteria's for each. What specific locations are you looking to buy and are you an investor or owner occupant?
0 votes Thank Flag Link Wed Apr 14, 2010
There are many different websites including bank websites that will list homes for sale that are in foreclosure. They are also homes listed on our multiple listing websites. If you would like to have a search sent to you with specific criteria as to location, type of home let me know. I would be happy to put something together for you.
0 votes Thank Flag Link Wed Apr 14, 2010
Foreclosures are, in general, going to be listed on the open market along with all other listings. Any REALTOR has the ability to search for properties by foreclosure and share those with you. From there, that agent can help you write an offer on the foreclosed property. Navigating with a bank that is a seller is certainly different from navigating with a "normal" seller and it would be helpful to have an agent that has some experience with this.

Matt Tringali
0 votes Thank Flag Link Wed Apr 14, 2010

The Banks and Gov. have created web sites to provide the Public with all the information needed to understand the bid/purchase process they each use and a place to view all their available Properties....

Sites like...http://www.pasreo.com/pasreo/public/propertySearch.do

http://www.homepath.com/ ... http://bankofamerica.reo.com/search/propertysearch.aspx .. http://portal.hud.gov/portal/page/portal/HUD/topics/hud_homes

You can find all the info on these FREE Services and information provided to the Public directly by the Banks and Gov. entities actually selling the property here...http://www.trulia.com/blog/dunes/2010/01/reo_s_and_gov_prope…

If you would like to research Tax Sales or find public records (Property info ect.) then you may find it worth your time to review this....http://www.trulia.com/blog/dunes/2010/01/public_records_find…

DO NOT BOTHER USING TRULIAS FORECLOSURE SEARCH...All of Trulias "foreclosureslistings" are just RealtyTrac Ads designed to get you to go to the RealtyTrac site and subscribe to their pay service..
Trulia provides this information in it's FAQ..

"Trulia FAQ's
Trulia Help Center > Overview > Partners > Where do you get your foreclosure information?All foreclosure listings are provided by RealtyTrac and display basic foreclosure information. In order to view full foreclosure details, users must register with RealtyTrac. RealtyTrac offers a 7 day free trial, but charges a subscription fee after the initial trial period"


Good hunting
0 votes Thank Flag Link Wed Apr 14, 2010
REO or bank owned properties (foreclosures) are generally listed in the MLS. You can contact a Realtor in your area, an they will be able to provide you with REO listings. They can also help protect you through the process, as it is different than a traditional sale. If you need a good agent in your area please let me know and I can refer you to someone great!

Good luck!
0 votes Thank Flag Link Wed Apr 14, 2010
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