Property Q&A in Piscataway>Question Details

Lovneet, Home Buyer in Pittsburgh, PA

As I understand, opening bid is 4718. how do I go about bidding for this?

Asked by Lovneet, Pittsburgh, PA Thu Jun 14, 2012

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Hi Lovneet,

I am the Starpoint Expert and have sold over 197 townhomes there in my career. There is a short sale in progress on Nebula Rd which is a pre-foreclosure. There is an offer in with the bank and back up offers allowed. The asking price is $225,000 for a 3 br interior model whereas they usually sell closer to $300,000. In many cases the foreclosure or sherrif sale is postponed many times until the short sale is approved by the bank and it never goes to foreclosure. Staying in contact with the sherrif sale dept in New Brunswick is a great idea and if it goes to sherrif sale you show up with 20% down and as the bidding goes, if you get it than you have to give the remainder in 14 days or so.

Best of luck to you,

Melisa Takacs
MillenniuM Interstate Realty
732-203-1500 office
732-996-1835 cell
0 votes Thank Flag Link Fri Jun 15, 2012

Did you read the procedures for purchasing a foreclosure along with all the pro's and con's of buying one? You need money up front, then the full balance of purchase price within a very short period of time. Usually you will not be able to even see the property prior to purchase. Usually the house is sold TOTALLY as is, so no repairs will be done.

You can call the Middlesex County Sheriff's office about when the auction will occur, to make sure the house IS actually going to be auctioned (sometimes they are adjourned), and to verify the opening bid.

Here's a link to the guidelines for purchase in Middlesex County:

Here's the link to all the current foreclosures in Middlesex County (I don't see Nebula Road on the list). You can click on the "TOWN" heading to sort by town:
0 votes Thank Flag Link Fri Jun 15, 2012
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