Claudio Gomez, Home Buyer in North Plainfield, NJ

would the owner take 89000 and walk out?

Asked by Claudio Gomez, North Plainfield, NJ Sat Jan 26, 2013

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Realty Trac pulls homes that have been served Notices of Default from public records.

Most of these homes will never be for sale , and currently are not. The only thing that has happened so far is the owner was notified that they are in default on some payments. Lis Pendens (notice of Default) is just the start of a long process that MAY lead to short sale of foreclosure.

Just read the "listing" on Trulia. The company puts the following caveat on all the listings:

Realty Trac then sucks you in to pay to get a list of TRUE foreclosures and pay for them. If you are looking to purchase a foreclosure, your best bet it to contact the county sheriff office, or look on their web site (most list the sheriff sales online) and it's FREE.

Bear in mind though, that the rules for a foreclosure purchase typically need you to have 20% down at the time of winning the auction (certified check or cash), then require you to have the balance of the purchase price (cash or mortgage) within 30 days of winning the bid.
These homes, also, are usually sold in AS IS condition, and some of them you cannot even get in to preview before you bid on them at auction.
0 votes Thank Flag Link Tue Jan 29, 2013
Thanks that is clear , Claudio
Flag Wed Jan 30, 2013
Hi Mr. Gomez,

It doesn't appear this property is on the market at this time. It's been flagged because it's a pre-foreclosure which is what Realty Trac keeps track of.
0 votes Thank Flag Link Sun Jan 27, 2013
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