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Quanghiepnews, Home Buyer in Brandon, FL

Pricing that on Birchstone Ave, Brandon fl 33511

Asked by Quanghiepnews, Brandon, FL Sun Aug 12, 2012

Please tell me know about the price on Birchstone Ave, Brandon Fl 33511...and if we would like to buy it, how can I contact you to see the house...thanks

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This question is about this property: http://www.trulia.com/foreclosure/3084220503--Birchstone-Ave…

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Answers

8
The $44k you're seeing is probably a 2nd mortgage that is initiating foreclosure. The first mortgage is probably well above market value. The house may or may not ever come on the market. Here are the steps:

1) 1st and/or 2nd mortgage file a Lis Pendens at courthouse (that's where RealtyTrac get this $44 price)

2) If owners don't fight the lawsuit it will then get a final judgement and get auctioned at the courthouse to an ALL CASH buyer. Normally the "final judgement" amount is well over market value so it will go back to the lender. If the lender allows a below market sell for less than the final judgement then it will sell to the highest cash investor. That buyer will not get a clear title (or title insurance) and cannot cancel and cannot inspect for serious defects. It's a gamble and if you have cash in your hands and are not risk averse this is the way you can get the best "bargain".

3) a) if a cash investor buys it then it may be rented out for a year to take advantage of the 15% max capital gains tax treatment (i.e. Romney's smart strategy). Or they may put lipstick on it and flip it for the highest price possible.

b) Alternatively if the lender doesn't offer it for below market at the courthouse it will come back to the
lender and depending on if there were "guarantees" it may get sent to Fannie Mae, Freddie Mac, HUD or the VA. Regardless all of these will come back on the market and available to the public --unless you have a multimillion dollar portfolio and buy the properties via the REO Initiaitive (fhfa.gov) .

4) Lastly the house will go up on the market listed by a local Realtor.

Additionally if the owner is "smart" they will hire a local Realtor (normally no cost to a Seller) and attempt to sell via a Short Sale. In this case the price that is set is "fiction" so don't count on being able to buy even at the full asking price. Many many cash investors are lining up to buy properties under $150k so if you don't have all cash then you may want to focus on properties that are reserved for OWNER OCCUPANTS for the first 2 weeks listed: http://www.HomePath.com http://www.HomeSteps.com http://www.HudHomestore.com

All the best,
Alma
Alma Rose Kee, PA
Future Home Realty
813.244.9898
http://www.SoldOnTampa.com
0 votes Thank Flag Link Sat Sep 22, 2012
Sure thing. you can reach me at LUNA.GERA@GMAIL.COM.
I'll be happy to help.
Regards,
0 votes Thank Flag Link Mon Aug 13, 2012
thanks Gerardo Luna...may I have your email address
0 votes Thank Flag Link Mon Aug 13, 2012
Hello, that is exactly the point here. The house is NOT for sale.
Like my other fellow agents said before, the house is not for sale.

The information you saw is only saying that the house is on default. They are suggesting a price, when the house is not even for sale.

Please let us know how can we help you. We can guide you every step of the process.
We can provide you real listing information and a list of available homes.

Trust an agent, as Realtors is our goal to server and protect our customers.
Gerardo Luna
Signature Realty Associates.
813-410-1712
0 votes Thank Flag Link Mon Aug 13, 2012
so....if it is about 100k to 180k. why it is listed as 44k....thanks...we really ready to buy a home and we are comparing about the price...
0 votes Thank Flag Link Mon Aug 13, 2012
Hello,

What you are looking at is a notice of default. Trulia is litter with these type of listings. If the listing does not specifically say the property is for sale it is most likely not. RealtyTrac is trying to sell you information about the property and loan. All of that information can be found in the public records for free.

If you are serious about buying a home I would recommend contacting a local Realtor. Please feel free to call or email me with any questions.

Andrew Schmitt
Yellowfin Realty
Sales Associate / Property Manager
Cell: 813-857-1543
andrew.yellowfinrealty@gmail.com
http://www.andysellstampabay.com
0 votes Thank Flag Link Mon Aug 13, 2012
Hello, Please don't rely on online information. The best advice I can give you is to find a Realtor you trust. Ask to one of your friends or a relative about a Realtor they know and trust to refer it to you.
This will server you greatly and it will provide you with accurate information and market information that online information doesn't have. Good Luck with your home search!
0 votes Thank Flag Link Mon Aug 13, 2012
Realty trac are not listings. It is public record information used to get buyers to sign up for services. Birchstone is in Heather Lakes and the listings are priced from 100k to 180k currently.
0 votes Thank Flag Link Mon Aug 13, 2012
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