Miajones04, Other/Just Looking in Jacksonville, FL

For foreclosure bank owned properties, the price they list in black bold (transfer value) is that the price they are asking for?

Asked by Miajones04, Jacksonville, FL Fri May 3, 2013

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Blaine Rabe’s answer
Good Day,

The Bank Owned properties, REO, are a whole different animal to persue.

The best advise is: find an experienced realtor you feel you can work with. Set up the guidelines, and get some offers in.

Blaine Rabe
Deltona Realty
0 votes Thank Flag Link Sun May 5, 2013
Realty Trac strikes again:
Look at the posting for that home again and find the logo for Realty Trac (black and red). Most times when you see that logo 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 document regaining custody of the home when they foreclosed on it (transfer value); and/or an announcement that the foreclosure process has just begun (Lis Pendens). Next that Bank/Lender will take several months to put the property on the market at "Market Value for the specific community" and it will be listed/advertised as a Foreclosure or an REO. Was this answer helpful? If so please click on the "thumbs up" above.

Tony Vega
Antonelli Realty
0 votes Thank Flag Link Fri May 3, 2013
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