Foreclosure in 95828>Question Details

Adebola, Home Buyer in 95828

Now convinced what is the best way to get written down foreclosures Sacramento or any area good for

Asked by Adebola, 95828 Mon Jun 30, 2008

investment. buy to let seen some really knock down foreclosures

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4
Hi Adebola,

All the offers for foreclosures will be approved by the lenders. Most of the time they tried to get the properties sold as much as the current mortgage owed by the owners. The process will be long and complicated. If you have patience enough then you might get the good deal but there will be a lot of bumping during the transaction. You need to work with an experienced agent who knows how to handle the foreclosure transaction properly from a to z. Good luck.
0 votes Thank Flag Link Wed Nov 5, 2008
Foreclosures are sold through the multiple lisitng service with Real Estate Agents or at Public Auction. There are some right now that are tear downs and others that only need minor work. the best way to find out about these homes is to have your name placed on an email list so you get daily updates on the areas you are interested in.
Web Reference: http://realtyaid.net
0 votes Thank Flag Link Wed Jul 2, 2008
If you can purchase with equity alot of areas are great.
http://www.lynn911.com
0 votes Thank Flag Link Mon Jun 30, 2008
Have a real estate agent write offers for you on properties that you go see with her or him.
If a property was sold for $400,000 at the peak of the market, and you get an offer accepted for $200,000, you are getting a 50% discount from the peak value. It does not matter the house is currently listed for $210,000 or for $ 199,000. - The current list price is not closely correlated to either its current market value or it's historic peak value. The only issue should be "are you getting the house for the lowest price you can get it or a similar house for?"

Nobody today will buy a house for its top value. Though many will sell you a house for half off the old price, no one will sell a house for half of its current value.
0 votes Thank Flag Link Mon Jun 30, 2008
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
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