Moving in 08015>Question Details

User242380, Home Buyer in 08015

looking to buy direct from owner pre-forclousure house in brown mills, nj

Asked by User242380, 08015 Thu Feb 11, 2010

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Your best bet is to find an agent you are comfortable with, let them no what you are looking for and they will be able to help.
0 votes Thank Flag Link Thu Feb 11, 2010
If you are asking how you go about doing it, here is a short answer. Connect with a REALTOR. Explain what the situation is. They will guide you through the specifics of your case. If the seller owes less than what you are going to pay, then it is just a matter of making the transaction happen between seller and purchaser. If the seller owes more than what you are willing to pay then your Realtor must negotiate the sale with the Mortgage Co. You can request do a "short sale". Or the Mortgage co. may be willing to let the seller give the deed back in lieu of foreclosure, and you will purchase from the bank. They are more willing to do this if they have someone willing to purchase.
0 votes Thank Flag Link Thu Feb 11, 2010
This is more of a statement then a question. What specifically will you like more guidance in?


Best Regards,

--
Jeremy S. Hill, Realtor Associate,
Keller Williams Realty
http://www.YourPhillyHomeSearch.com
http://www.SouthNewJerseyHomes.com
Office: 856.685.1651
Direct: 609.876.5817
Fax: 609.482.8235
Licensed PA, NJ
"Your Interest 1st Always"
0 votes Thank Flag Link Thu Feb 11, 2010
Is this for an investment or your own personal residence?

You will have to pay to subscribe to one of the services that provide pre-foreclosure information, then do alot of door knocking & mailing as these people are already getting quite a few letters and calls from people wanting to do the same thing as you are trying to accomplish. The truth is that almost 70% of people who get a pre-foreclosure notices never get foreclosed upon, they end up working out the payments with the mortgage company.

Its not impossible but it can be challenging and depending on where they are in the foreclosure process, you'll need quick access to cash for closing. If the home needs work, a mortgage will be challenging and

Feel free to call or email me with more information about what you are trying to accomplish and I'll give you what info I can about the process.

Best Regards,

Barbara Smith ABR, GRI
Weichert Realtors
NJ/PA Licensed
cell/text: 609-980-7593
email: BarbSmith321@comcast.net
Web Reference: http://BarbSellsSJ.com
0 votes Thank Flag Link Thu Feb 11, 2010
Ok... what's your question??
Are you asking if this is a good or bad idea?

Joe
---------------------------------
Joe Montenigro REMAX Home Team
Broker, GRI (856)374-2800 x106
Serving Gloucester Twp & Southern NJ
Read my Blog at http://hometeamNJ.com/blog
Meet me at http://www.facebook.com/JoeMontenigro
See my virtual tours at http://hometeamnj.com/?page_id=364
0 votes Thank Flag Link Thu Feb 11, 2010
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