Property Q&A in Danville>Question Details

erinbparsons, Home Buyer in Danville, CA

As a first time buyer how much do you think this house would go for?We are looking and are not sure about the homes for auction.

Asked by erinbparsons, Danville, CA Mon Feb 4, 2013

What would we need to do for this process and would someone be able to show us the house and if so who?

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This question was asked from this property: http://www.trulia.com/foreclosure/3100612668--Culet-Dr-Danvi…

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Courthouse auctions are not usually the best place for first time buyers. You buy the house, with no inspections, and take on any liens against the house as well. There is big risk. The banks seem to have a minimum too that they are wiling to take, and the opening price is below that. The courthouse will not take a loan, so it is all cash.
Many "foreclosures" found on common websites also are not really foreclosures. The seller may end up doing a cash-for-keys. So you need to work with an experienced agent who can do some of the research for you, but it can be a lot of work. there are still short sales, and reos out there too. as first time buyers, it would be very worthwhile for you to work with an aget. courthouse sales can be very risky business.
0 votes Thank Flag Link Mon Feb 4, 2013
It is a foreclosure auction starting bid price and it is all cash purchasers only. Do you have all cash or need financing? You may qualify from minimum 580 fico score and from half percent down payment programs and up. It only takes a few dozen questions to qualify in minutes. You have to have a pre-approval letter to be able to look at and submit offers on any homes of your choice. Here are some links to study and consider.

http://www.under640ficoscoreloans.com/Pages/Conventional.aspx

http://www.under640ficoscoreloans.com/Pages/JumboLoan.aspx

http://www.under640ficoscoreloans.com/Pages/CHDAPLoans.aspx

http://www.under640ficoscoreloans.com/Pages/HalfPercentDown.aspx

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
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0 votes Thank Flag Link Mon Feb 4, 2013
It does not show this home to be on MLS. If a home is a pending foreclosure, it goes to the trustee sale on the courthouse steps. Mostly investors buy there. I belong to foreclosureradar and do not see a 3 bedroom, 2 bath going to foreclosure for that amount.
I always suggest a buyer wait for the bank to foreclose on a house and then be placed on MLS , so that a buyer can do proper inspections and have an appraisal. You cannot do that on the courthouse steps

Sue
0 votes Thank Flag Link Mon Feb 4, 2013
This home is Pending Sale, it sold in 2 days on the market and was listed for $1,101,250.00. I would strongly suggest if you are interested in buying a home that you team up with a Realtor who can assist you. We have an incredible scarcity problem right now, there is so little inventory and so many buyers. Almost everything is selling with multiple offers. I just got buyers into contract on a home where there were 6 offers, and that isn't that many for this market. Additionally, working with a top notch Lender is critical. I was able to get my client DU Approval (desktop underwriting) before we submitted our offer. That along with my communications with the Listing Agent before the offer presentation were enough to get the seller to work with my clients. I would be happy to arrange a time to sit down and discuss how we could form a mutually beneficial relationship. I grew up on 100+ acres in Danville, most of which is all homes now, and am intimately familiar with the area. I now live in Walnut Creek but I am very active in Danville. I have an house coming up for sale in Magee Ranch soon. Please contact me if you would like to arrange a time to meet.

Sincerely,

Todd
Todd Scheid
Realtor ~ Trusted Advisor
Alain Pinel Realtors
(925) 323-6150 cell
Todd@ScheidHomes.com
Visit My Website ~ Sign up for Free Automatic Listing Updates
0 votes Thank Flag Link Mon Feb 4, 2013
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