What you have seen on Trulia is a notice of default or foreclosure posted by Realty Trac which is a reporting service. Realty Trac takes information from public records and provides it by subscription to its members who have registered and agreed to pay a fee for the information. What you see on Trulia is an abbreviated report from Realty Trac in order to entice you to sign up for their service.
It is unlikely that you will be able to buy this house for the price posted on Trulia. That is the amount of a default and has no relationship to the value of the property. The house may be offered for sale at a later date but it will most likely be listed with a Realtor and priced at a price that reflects the market price for the area.
If you are serious about buying a house, you need to align yourself with a full-time, experienced local Realtor who can help you to find the house that meets your needs. Your Realtor can help you to learn about the current market conditions, realistic house prices, loan qualifications, negotiating strategy, escrow management, inspections and everything else that goes into the purchase of a home.
As you can see below, there’s no shortage of agents who’d be willing to help you buy a home in Livermore! Although this Q&A forum is not designed to be a place where agents say, “Pick me!” (in fact, it’s a violation of the Community Guidelines for Realtors to do so), Trulia IS a good resource to find top-notch local Realtors. I recommend you look through their profiles, interview at least three, pick one that is a good fit for you and work with them to get pre-approved. A good Realtor will walk you through all the steps and make the process as easy as possible.
My first suggestion is to work with a real estate professional specializing in the area you are searching. To answer you question specifically, as an agent, I need to know that you are qualified to buy the home. Initially, it's always good to talk with an excellent loan agent with a proven track record. I might suggest calling:
Diversified Mortgage Group
I have a complimentary homebuyer's binder for you as well. To receive it, just call me/email me and I'm happy to pass it along to you. It will arm you with the information you need to know buying a home in this market from start to finish.
In order to make an offer on a home you would need to get pre-approved by a lender - a mortgage broker, credit union and your local bank would be fine. You need to have some money for down payment and closing costs. My best advice always is to meet with a mortgage broker who has been referred to you and take some time so that they can run your credit report and look at your circumstances to determine the best plan for your success in purchasing your ideal home.
I live very near this home and if you would like to contact me directly I will be able to provide you all the history on it and answer any questions that you have regarding the home and the community.
Christine Rosi http://www.JoyfulLivingToday.com
My steps. Contact some one you like in here (read a few profiles of the people that answered) and contact a lender. One of these Realtors or myself can help with that. You need to have a pre-qual letter as part of the offer.
If you need more, text or email me.
I am very familiar with properties is this area...bank owned, short sale or just a normal sale typically sell for $700,000 +++ so if you are looking at the loan amount showing of $245,000+ I can tell you that this property will not be listed for anything close to that price and if there is that much equity in the property the bank will take it back in foreclosure and keep all the overage. It may be (or come) on the market as a GOOD deal but it will be closer (or even higher) than the $700,000 range I suggested depending on the square footage and amenities. Should you be interested in a home in this area I would be happy to help you and walk you through the process of buying a home or foreclosure or short sale.
2. an Approval letter
3. A signed purchase agreement
4. agency relationship agreement signed
5. short sale signed
6. your telephone # and email address
The 2nd and 3 items I can help you get if you do not have them
i can be reached at my office 5108342010 or direct at 5104720826
As for items needed you will need to submit a formal written offer (I suggest doing this through a REALTOR, to assure you are achieving the best possible price. Most banks will now also request for Proof of Funds, a PreApproval letter from their preferred lender, as well as a copy of the initial deposit to escrow.
Prudential California Realty
Have you been pre-approved for a loan yet? That's the first step to take. Thereafter, you would want to view the property and see if you still were interested in making an offer. It's best to see what other homes are out there that fit your criteria so you can make a an educated decision on which property makes sense to you.
Let me know if you have any other questions, ok? Just email me or give me a call to discuss.
Jose de Ocampo III, REALTOR