Jennifer O.…, Home Buyer in Charlotte, NC

Can i see this property. My realtor can't seem to find this...why?

Asked by Jennifer O. Bivona, Charlotte, NC Sat Feb 2, 2013

This question was asked from this property:…

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Good afternoon, Jennifer:
Kings Falls Dr property is bank Repossessed. This property has completed the foreclosure process and is now owned by the foreclosing lender, which took title to the property. They have not yet listed it for sale. If you appreciate an answer, please give thumbs up. For the most helpful answer, please say thanks with a best answer click.
1 vote Thank Flag Link Sat Feb 2, 2013

It appears from the tax records that there is one "Bank Owned Sale" on that street but it also appears that it is not actually on the market yet so you may have to wait until it is released by the bank to view it. Nice little neighborhood and great location and I can vouch for that as I live in the neighborhood right next door,

Good luck!

Chris Hedrick
1 vote Thank Flag Link Sat Feb 2, 2013
Jon is right. Realty Trac just scrapes the tax records and then post these listings as bait to get you to register for their site. The bank that owns it may put it on the market ... but they may not. It may take a year or more to come on the market. Use your agents website to search for homes that are on MLS. Trulia is great but sometimes the info is not current.
1 vote Thank Flag Link Sat Feb 2, 2013
Your realtor cannot find it because it is not for sale. There is a company called realtytrac that advertises pre foreclosure homes. These homes are not for sale they may be one day but currently are not. If you would like a list if active foreclosures check the or ask your realtor. We can give you foreclosures that are currently for sale.
Web Reference:
1 vote Thank Flag Link Sat Feb 2, 2013
I live in the neighborhood. There was a foreclosure on the street but it sold about 60+/- days ago. Currently I have not seen any other foreclosed townhouses in the neighborhood.
1 vote Thank Flag Link Sat Feb 2, 2013
Everyone here is correst - this property is not on the market, and, thus, your agent could not find it. Save yourself some time by not searching the trulia/foreclosure link. Most of these listings are not for sale, but are only in the doreclosure process. Some of these listings will NEVER come on the market, as the owner will manage to catch up their mortgage, or get a loan modification. Your agent has access to EVERYTHING that is currently on the market, through mls - there is no secret resource for foreclosures. All foreclosures here are sold through MLS with a Realtor Listing Agent. Make sure your agent has you set up on a Client Gateway with the ASAP setting clicked so that you are sent notice of new listings the minute they hit the market. That way, you will know immediatey when a new listing hits the market that fits your criteria. Best of luck with your search!

Kathleen Turner, ABR, CRS, ePro, Certified Paralegal
Keller Williams Realty
0 votes Thank Flag Link Sun Feb 3, 2013
Ask your Realtor to stay on high alert concerning this property. They should know the day it goes on the market, and therefore allow you an opportunity to view it, and possibly make an offer to purchase. Just beware, it is not uncommon to see multiple offers on a Bank Owned Property.

One suggestion I will make to you: If you have not yet spoken to a bank or mortgage broker to obtain a Pre Approval Letter, you really need to. This will give you an advantage over the other bidders, and the bank most likely will require that you have an approval letter attached to your offer.

Please notice I did not say a Pre Qualification letter. A Pre Qualification letter only means you appear to be qualified for a mortgage, whereas the Pre Approval states you are qualified and they will give you a loan for a certain amount as long as the appraisal of the real estate you are trying to purchase is satisfactory to the lender.

ONE OTHER CAUTION: Once you have been Pre Approved, DO NOT MAKE ANY PURCHASES THAT MAY AFFECT YOUR QUALIFICATION. Please beware, the lending institution will take another look at your credit report prior to your closing! Purchasing a car, major appliances etc., could cause you to be dis qualified for your loan.

Best of luck to you! Hope you get the opportunity to get a great deal!

You can see houses new to the market and those currently on the market by going to:
0 votes Thank Flag Link Sat Feb 2, 2013
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