Property Q&A in Tempe>Question Details

rbnsn42, Home Buyer in Tempe, AZ

How do I purchase this property?

Asked by rbnsn42, Tempe, AZ Mon Apr 9, 2012

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This question is about this property: http://www.trulia.com/foreclosure/3079178722--E-Lemon-St-202…

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Answers

1
This home will sell at Trustee's Sale on June 12, 2012. The price it will sell for is unknown. To buy at Trustee's Sale you will need to pay cash. The process is you take a cashier's check for $10,000 to the sale. If you are the highest bidder then you will need to pay for the property within 24 hours. If you don't have the cash there are hard money lenders who will lend you the money until you get the financing in place. The hard money lenders charge a fee and they are not cheap but they are the only option if you don't have cash.

I checked the HUD website and FannieMae websites and this condo does not have a condo cert. This means at this time no financing is available. However, it doesn’t mean that they can’t be approved. You would have to ask the association to complete a condo questionnaire and budget to determine eligibility. There is usually a fee that the association charges for this service.

I know this is a lot of information. Please call me if you want more information.
Thanks
Pat Hune
Broker
1st Southwest Realty
480-703-1976
Equal housing opportunity
Web Reference: http://www.greathouseaz.com
0 votes Thank Flag Link Mon Apr 9, 2012
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