Property Q&A in Charlotte>Question Details

George, Home Buyer in Firestone - Garden P...

hey how can i get an agent on this property? Thank you

Asked by George, Firestone - Garden Park, Charlotte, NC Tue Oct 4, 2011

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This question is about this property: http://www.trulia.com/foreclosure/3064572928--Cadence-Ct-Cha…

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9
George,

You will receive a lot of different answers here. There is a good chance that a house on that street went to foreclosure and is now owned by the bank. I have sold many bank owned homes. A couple of things you need to take into consideration are:
The number that Trulia posts is usually what the bank ended up paying at the foreclosure sale for the property. it generally does not mean that is what they are goign to sell the house for. Depending on the condition of the home it can be greater or less than what they apid.
Also, there is no definitive time of when the bank will put the house on the market. i ahve seen homes go on the market within 30 days of foreclosure and I have oen in my neighborhood that took over a year....So, it is an unknown.
Just becuase it is foreclosed on does not mean the bank has an agent waiting to list the house as well. They may bundle and sell the house ot Fannie Mae or Freddie Mac (government backed moretgage brokers).
if you are looking for specifically foreclosures or homes in a certain area I recommend you find a Realtor you are comofrtable working with. One that you feel will be representing you the best and give that person your criteria and have them search daily for you.....
Web Reference: http://www.davedicecco.com
1 vote Thank Flag Link Wed Oct 5, 2011
George,

I did a little digging and cannot find this house listed on the MLS database. I then turned to the tax records and looked at all houses on Cadence Street in Charlotte. None of the houses on Cadence are reflecting that they are in foreclosure.

It can be frustrating to see some of these links and find out later that they are erroneous. Although it may not have as many bells and whistles, the http://www.carolinahome.com site is connected to the most up to date information available from the MLS database. It may keep you from going down bunny trails that lead to nowhere.

If you need any further assistance and have not yet engaged the services of a Realtor to help you navigate through the process, I would love to be of service to you. I have made the Charlotte region my home for more that 25 years and I sell many foreclosures and investment properties.

Blessings upon you...

Jan Teel
TEEL Realty
704-641-0267 (cell)
1 vote Thank Flag Link Tue Oct 4, 2011
One final note - RealtyTrac gets information on homes that have had a Notice of Default filed. Not every homeowner that defaults ends up in foreclosure. Some are able to catch up, some get forebearances, some get
loan modifications. It is not unusual for
a house to go in and out of foreclosure
several times before it is eventually
sold on the Courthouse steps. Your
best bet is to work with a real estate
professional who can do the leg work
for you and send you homes that not
only fit your criteria, but are actually for sale, so that you don't waste your valuable time chasing houses that may or may not ever come on the market. Best success! Kathleen Turner
0 votes Thank Flag Link Wed Oct 5, 2011
This home on Cadence Court, Charlotte NC 28273 is not on the market. RealtyTrac, the company that posted it, did so based on a notice filed with the Register of Deeds for Mecklenburg County. This company wants people to sign up for their paid service to get this information.

However, if you are interested in this home, you can find it free by going to the Polaris county website, click the search button in the upper right corner, type in the address and get the owner name. http://polaris.mecklenburgcountync.gov/website/redesign/viewer.htm

Then, go to the Register of Deeds site and use the owner name as either grantor or grantee to find recent filings http://meckrod.manatron.com/search.asp?cabinet=opr These will tell you what has happened. Once, we found that the document was a affidavit that the owner was going to act as their own general contractor in the improvement of their home.

If you are really interested in this home, you need to have about 20% of the purchase price in CASH. You can go to the county courthouse (or subscribe to the Mecklenburg Times legal paper) and bid on the property on the day of the foreclosure sale - if that is indeed what is happening. There are huge pitfalls with this approach and you need legal counsel if you are going to go this route.

Or, you can wait for this home to be sold at foreclosure sale and, assuming the current lender buys it at foreclosure, wait for them to list it with a local broker - as most homes are. Either way, this process will take several months to complete. If you cannot or do not want to wait that long, there are a lot of foreclosed homes and distressed properties on the market right now. If you have a full time agent with a Masters degree in Planning with Finance and over two decades of experience, working for you, you will likely do better in negotiations. I'd be pleased to provide that service. ...and if you like this reply, please give it a "thumbs up" or "best answer".
0 votes Thank Flag Link Wed Oct 5, 2011
Dave Dececco is right on the money with his answer! At Allen Tate, we work with a number of different consultants who advise us on market dynamics, etc. The only quantitative information to add to Dave's answer is that the consultants are telling us that most of the homes like you are questioning (plus some still to come) are on an 18 to 24 month cylce from now. Essentially, the mortgage companies / banks know that if they immediately release these type of properties to the market, then it would in essence "flood" the market and drive down values everywhere. It is a controlled easing of the shadow inventory of foreclosures.
0 votes Thank Flag Link Wed Oct 5, 2011
Good Morning George,

You can take a look at my website that has all the updated distressed properties listed. You can input the criteria so you can look in various areas that you are interested in.
http://www.mycompassrealestate.com/distressed-properties

If you need anything please feel free to contact me anytime.
Thanks
Brock
0 votes Thank Flag Link Wed Oct 5, 2011
George,

There is currently no foreclosure listed on this street. Sometimes some of the real estate sites have incorrect and dated information. Feel free to visit my site at http://www.PumaHomes.com to search up to date foreclosure listings. You can also register your search criteria for free on my site and I can keep you posted as new foreclosure listings that meet your criteria hit the market. Happy house hunting and have a great day!

Phil Puma
Puma & Associates
Keller Williams Realty
704-578-8851
Phil@Pumahomes.com
Web Reference: http://www.PumaHomes.com
0 votes Thank Flag Link Wed Oct 5, 2011
George I exclusively work with buyers in charlotte looking to buy foreclosures.
Feel free to email me your contact info and lets talk about this property.
Thanks
John kurtz
John@johnkurtzhomes.com
http://Www.johnkurtzhomes.com
0 votes Thank Flag Link Tue Oct 4, 2011
Hey George,

I would be more than happy to help you with this property. I help a number of buyers each year purchase in the Steele Creek Area.

Give me a call or shoot me an e-mail and I'll answer whatever questions you have.

Amy Baker
Allen Tate Realtors
704-258-1459
Amy.Baker@allentate.com
0 votes Thank Flag Link Tue Oct 4, 2011
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