Property Q&A in Warwick>Question Details

Linda Linpha…, Home Buyer in Warwick, RI

Bank owned and Foreclosures

Asked by Linda Linphanit, Warwick, RI Wed Jan 23, 2013

Why does Trulia have listings of foreclosures and bank owned homes but when I asked my agent to gather information about them for me he tells me that they are not on the market?

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Answers

4
Simply answer on the RI Mls System when a property goes into a Active/Pending short sale status or Active/Pending anything. The systems reads because it is "active" it is available. Even though there is a contract on the house sumitted to the bank. Still have your agent contact the other agent. For my properties I have a list of individuals who want to see the house if it falls through. You will be contacted if anything happens with the bank. Good Luck to You!
0 votes Thank Flag Link Thu Jan 24, 2013
The sites that all listings are linked to aside from the state wide multiple listing site take longer to up date the status feed. This happens often with my buyers as well, they will see a property and when I check the MLS, I get the most up to date status. I'm sure your agent feels bad as well when they are already pending. Keep looking things come back on the market and new lists come on daily. Good luck!!
0 votes Thank Flag Link Wed Jan 23, 2013
Trulia and Zillow are starting to show properties that may be in foreclosure or pre-foreclosure status. The data they are getting is not coming from RI Statewide MLS. They could be getting it from mortgage records, bank records or auctioneers. Properties in this status will be hard to get at best. Some of them will be auctioned off, and if you are not familiar with that process, it's not a good way to buy a property. If you would like to easily find foreclosures or short sales that can be easily bought with a clear title, go to my web site at http://www.joedelsesto.com. There are two easy access buttons on the first page for foreclosures and short sales.If you have any questions you can contact me through that site, or hit the Contact button on this answer. Hope this information helps. Joe
0 votes Thank Flag Link Wed Jan 23, 2013
Sometimes Trulia is not entirely uptodate regarding foreclosed/bank owned properties. Or your agent might not be doing his diligence and finding the correct data about the properties, which is entirely possible. Send me an email or phone call: joshg@alumni.brown.edu or 401 527 1994. I'd be happy to double check your inquiries or find you some properties comparably, if you're interested in foreclosed, short sale, reo owned opportunities. I've been working on a lot of them lately.
0 votes Thank Flag Link Wed Jan 23, 2013
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