Property Q&A in Brentwood>Question Details

Xiao_yan620, Home Buyer in 90049

How can I get more information for this property? And how do I know the final price I have to pay for this property? Thanks, Yan

Asked by Xiao_yan620, 90049 Thu May 3, 2012

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This question is about this property: http://www.trulia.com/foreclosure/3070527704--Montana-Ave-20…

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6
This property is in foreclosure and may go for auction.
It is not offered for retail sale at this time.
If you wish i can send you similar properties that are available.



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1 vote Thank Flag Link Thu May 3, 2012
If you are working through a Realtor, all of us have access to numerous title companies who provide us with documents related to the ownership of a property, when it was last transferred in a sale, how many loans are outstanding, including recorded mechanics liens that may have been placed on the property by an unpaid plumber or electrician.

The joy of buying a home at a so-called "steal" quickly evaporates when the buyer discovers the property is encumbered by thousands of dollars in unpaid professional services or IRS tax liens. A professional agent will have gone through this process before taking a listing on a house and we would never make an offer for a buyer until we, too, ran such research. Don't fall in the trap of emotionally falling in love with a house and making an immediate offer before you have been fully advised about the property.

As for the "final price" that is between seller and buyer. That is why you need a quality agent to negotiate in your behalf. You make an offer based on what your agent feels is a legitimate fair price offer based on recent sales in the area, like-kind property values and the experience of the agent. The seller then has the option to accept your offer, or to counter it to a higher price. You, as the buyer either accept the counter offer or the property will go to another buyer.

Please remember you are making an offer on a person's home, their pride and joy and a house that contains many memories, and a home they may have occupied for years ... low ball offers are insulting and is a big turnoff to a seller who may reject further negotiations with you. While we are currently in a "Buyers Market" that is no excuse to consider it an opportunity to rape a seller. Would you like to be taken advantage of if the tables were turned? Not likely.

A sales transaction is suppose to be mutually advantageous or the transaction falls apart. Because the house across the street sold for $50,000 less does not mean that someone is expected to match a price that does not consider the differences in improvements or condition. One of the biggest misconceptions in purchasing a home is a buyer relying on the square footage price. If the house across the street sold for $500 pr. sq. ft., but the home you are buying has a new kitchen, new bath, new roof and is freshly painted inside and out, the square footage price becomes meaningless. A better house with new improvements will always sell for a higher square footage price.
0 votes Thank Flag Link Thu May 3, 2012
We are having an open house this Sunday, May 6th, 2-5pm.

Call me if you have any questions...310.266.9242 is my cell.
0 votes Thank Flag Link Thu May 3, 2012
When you see the source as Realty Trac and Loan Amount next to a $ amount that signifies the property owner is behind but does not mean it is available or had a price set yet. it is understandable that it is confusing. If you are starting a serious search have a Realtor help you. They will navigate the search plus even more importantly the negotiation, terms and inspections. Best of all, the seller pays their commission.

There are more buyers than properties at the moment so don't be surprised if it takes a little while.
0 votes Thank Flag Link Thu May 3, 2012
Hi Yan:

This property is not for sale at this time. It is currently in a pre-foreclosure status, which means that a Notice of Default was posted on this property, the owner has defaulted on their loan. They have time to cure the deficiencies on this loan by paying it current, doing a loan modification, completing a short sale, giving the property back to the bank by a deed in lieu of foreclosure, or letting the property go to foreclosure.

Let me know If I may be of assistance to you.

Good luck and all the best,

Kat
0 votes Thank Flag Link Thu May 3, 2012
Hi Yan,

To get more information regarding this property, it is best to contact a realtor like myself who can do the legwork on finding out all the facts for this home. As for the final price, well that depends on several factors including what similar houses close by have sold for recently, the condition of the property and what the Seller (in this case the bank) is willing to accept.

Valerie
0 votes Thank Flag Link Thu May 3, 2012
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