Jinwei, Home Buyer in San Francisco, CA

How do I buy this property? What do I need?

Asked by Jinwei, San Francisco, CA Wed Mar 4, 2009

--
This question is about this property: http://www.trulia.com/nearby/foreclosure/z-15/t-G_MAP_TYPE/3…

Help the community by answering this question:

Answers

1
This property in question was sold on the steps of the courthouse...

Foreclosure properties are often bought by investors with C-A-S-H - AS IS or if no one is around to pay the 'reserve' amount, the banks will buy them back and sell them as REO (bank owned.) After all - no one is going to give it away...

Oh by the way if you go with your cash or cashier's check, be careful! You won't get title insurance so you may have a lien or two or three on the property. You also may get more than you bargained for... (The previous owner may still be in residence and might not be too happy to hear you knock, knock, knockin' at the door.)

In other words, if you thought you were going to get it for $97k - keep Californinia dreamin'... That's the world of foreclosures. (It is the real world and not the infomercial stuff which sells seminars spouted on late night TV.)

This is the reality of foreclosure properties. It's dirty work, fraught with risk and very few people have skin thick enough or pockets deep enough to play in this arena. On the other hand the REO is a deal for the consumer as you get a couple benefits, like clear title, vacant property.and a real loan.

Now if you're still really interested in this specific property then you can certainly buy it! It is for sale and listed for $234,000 - The address is 1315 Sunnydale. If you're still interested in this 4 Bedroom 2 1/2 Bath home, please call your agent for a showing, if you don't have already have an agent - you may certainly contact us!

Mike Ackerman
Zephyr Real Estate
ABZ@ZephyrSF.com
415-695-2715
"We're all about San Francisco"
0 votes Thank Flag Link Fri Mar 13, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer