Property Q&A in Philadelphia>Question Details

Andrea Critt…, Other/Just Looking in Kensington, Philadel...

how do I go about getting started on buying one of the houses with Trulia what do I need to get started.Im looking for a three bedroom house.

Asked by Andrea Crittendon, Kensington, Philadelphia, PA Mon Dec 28, 2009

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Two suggestions:

1) Find a Mortgage Broker
2) Find a Realtor

Below is a link you can click on or paste to your browser. It is a link to a few blogs we wrote for Buyers like yourself who may need a few tips. Perhaps it is too much info but glean from it what you need : )

0 votes Thank Flag Link Mon Dec 28, 2009

1. Do you have enough money for a downpayment on a home.
2. Next step is to get pre-approved
3. Work with a buyers agent who can assist you through the process.

This home by realty trac does not give an address. If you are a first time home buyer, I do not always recommend foreclosures as they tend to need a lot of work. Granted there are financing options out there to do repairs, it may or may not be something you want to explore.

Best bet is to sit down and discuss the home buying process with a realtor.

Sean Dawes
Long and Foster Real Estate
601 Walnut St. Suite L10
Phila PA 19106
Office (215) 409-6900 ex 16
0 votes Thank Flag Link Mon Dec 28, 2009

An Agent & mortgage rep will be the two team members you need right now. There are alot of homes available and some of the homes you see here on Trulia are in pre-foreclosure and are not actually listed for sale (as is the one you attached to your question here). You'll need to work closely with an agent who can keep get you up to the minute information about homes that come on the market and homes that have reduced their prices & a host of other things you'll need to consider.

I've attached a sample list of homes for sale in that area. You can also click on the link to my website to find out more about the tax credit that is availalbe, or call/email me directly and I can help you out with any questions and referring you to a few mortgage brokers who would do a great job for you.…

Good Luck,

Barbara Smith
Weichert Realtors PA/NJ
cell/text: 609-980-7593
Web Reference:
0 votes Thank Flag Link Mon Dec 28, 2009
You will first have to speak with a qualified Mortgage Broker or Bank to get a pre approval or fully approved letter to purchase a home. Have you spoken with a qualified, full time Realtor yet, who can guide you and consult with you throughout this process? This is a must so you are doing what has to be done - properly .
Web Reference:
0 votes Thank Flag Link Mon Dec 28, 2009

I forgot to mention that if you are a first-time home buyer, you would be eligible for the first-time home buyer tax credit and if you are currently in a home that you have owned for the past 5 years, you could qualify for the $6,500 tax credit.

Both could be a big help to you.

Renee Porsia
Associate Broker
(215) 669-0589 Direct
(215) 358-1100 Office ask for Renee
0 votes Thank Flag Link Mon Dec 28, 2009
Andrea. Give me a call. I can help you get all of the information you need on this home and many others. I'll also help you with a mortgage preapproval.

Carol mccann
Remax Millennium
0 votes Thank Flag Link Mon Dec 28, 2009

Before you get ready to buy just any house that you see on the internet, you need to do your research. If you have been looking around for a while that is good, you probably know what area and type of house you want. Next step is to visit some available properties and discuss the financials. I agree that buying power is important in this market, but you can't allow yourself to decide strictly on numbers. You need to feel like you are buying the right house. Home buying is a very emotional response. If you need someone to show you available properties in your search area, I would be glad to do that for you. Remember agents like myself work for you as the buyer, but should never cost you a commission.

Thank You,
Brian Fletcher
Lincoln Realty
0 votes Thank Flag Link Mon Dec 28, 2009

What you need to do first and foremost is to make sure that you have money for a down payment, closing costs and have good credit. If you have those in tact, then you need to hire a buyer agent who will protect your best interests and negotiate the lowest price they can for you.

Your buyer agent can get information on any home that is for sale in PA. If you are interested in a foreclosure, there is much to know about purchasing a foreclosure. If you find a buyer agent who is familiar with foreclosures, they can help and guide you.

I'd love to talk with you further. Feel free to contact me.

Renee Porsia
Associate Broker
(215) 669-0589 Direct
(215) 358-1100 Office Ask for Renee
0 votes Thank Flag Link Mon Dec 28, 2009
You can't purchase homes through Trulia. You certainly can't get any of the foreclosed homes on Trulia. Let me explain.

Websites, such as or RealtyTrac (which Trulia gets their feeds from), try to get you to pay for their services. Actual addresses are not published.

The foreclosure process is quite lengthy and starts when the borrower defaults on the loan. The following steps are included but are probably not all of the steps in the process after the borrower defaults.

- The lender petitions the court to sell the property.
- Borrower notified, has chance to catch up on payments, fees, remaining balance of loan.
- Borrower can't pay, home is slated for sheriff sale.
- Borrower can petition the court to stay the sale.
- If the sale goes on, potential buyers bid for property.
- If the property is sold at sale, sheriff evicts squatters (prior borrowers).
- If the property is not sold, the bank “buys” the property back.
- Bank puts the property on the market through a broker.
- For lenders who have VA or FHA backed home loans, they give the property to those agencies recovering the funds and those agencies either list with a broker or post those properties on their own web sites.

Now, even before this happens, the borrower sometimes lists the property (with the lender's approval) as a short sale (the price of the home is less than what is owed).

Moral: Get a real estate agent to help you out. They can show you properties which are either in foreclosure or will be a short sale. They can also assist you with properties which are slated for sheriff sale to see if they would be profitable.

Hope that helps,

Terrence Charest, e-Pro®
Century 21 Associates
905 Easton Road
Willow Grove, PA 19090
Cell (Preferred): 877.614.1494
Office: 215.659.5250
Fax: 215.659.5550
“Giving to Those Who Gave”
0 votes Thank Flag Link Mon Dec 28, 2009
First I would recommend finding out exactly what your buying power is. It's best to know up front how much you are qualified for, how much cash you will need for down payment and closing costs and what will your monthly payments be. You very well may quealify for a lot more house than your are will to pay for each month. I can calculate all that for you and show you exactly what you will need and how much your monthly payments will be with taxes, insurance etc. Feel free to give me a call at 215-654-5904. I'm in the office all day today and would be happy to help. Thanks, Robert LaPierre
0 votes Thank Flag Link Mon Dec 28, 2009
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