Mary, Other/Just Looking in Ahwatukee Foothills,...

WHEN CAN YOU BID ON THIS PROPERTY AND HOW DO YOU DO IT IF YOU HAVE A HOME TO SELL FIRST? IF THE PROPERTY

Asked by Mary, Ahwatukee Foothills, Phoenix, AZ Fri Jan 9, 2009

NEEDS A LOT OF REPAIRS DOES THE BANK TAKE IT IN CONSIDERATION ? IS 495,000 THE LATEST ASKING PRICE? HOW LOW CAN YOU BID ? WHAT WAS THE SHORT SALE BID? THX, MARY

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Answers

6
Mary

We are Chandler based and deal primarily in Foreclosure listings. I would be glad to answer all of your questions directly if it would help you.

The banks do consider repairs and on some we can go low with the offers.

Doug 602-751-7577
Web Reference: http://www.AzReoSales.com
0 votes Thank Flag Link Fri Jan 9, 2009
Mary, You are asking a lot of questions about bidding ect..but you said yourself " How do you do it if you have a home to sell first?"
You say you have to sell first, so deal with that and find out what position you find yourself in after that experience..While you're selling take some time to read through the Q&A here for information on bidding, foreclosures, short sales, ect.. The blogs also have a lot of opinions on these topics. Between here and other sources you'll have a good general idea of what you want to do after selling..

Good luck, Dunes
0 votes Thank Flag Link Fri Jan 9, 2009
Mary,

Without the property address we can not know what kind of sale it is, and the response will vary greatly depending on the type of sale. But in the mean time I can give you a few tips:

- If you need to sell a home first it might be difficult for you to bid on a property. Most sellers will not accept a contract (or bid) that is contingent upon the sale of your current property. That will put you at a disadvantage.

- If it is a true auction the final selling price will be determined by the bids. The bidders will take into consideration the condition of the house, hence the condition of the house will be a factor in the final price. Even on foreclosures or regular sales the sellers should take into consideration the property condition when setting the asking price.

- How long can you bid and the bidding strategy will change greatly depending on the type of sale.

Good luck!
0 votes Thank Flag Link Fri Jan 9, 2009
HI Mary,

There are several ways to bid on a property if you own a home currently have a home to sell.

What hope I hear in your voice by how you describe the desire to know ow low they will go indicated a need for the price to be lower so you can afford it, is that right?

These kind of questions can get complicated and there is a lot of different strategy involved.

We are not supposed to be asking you to contact us directly and so on here on Trulia, but your question requires more than a simple answer and we as Realtors and lenders would have to have more specific info on your position currently in order to adequately and properly advise you.

You should be speaking with a Realtor to help you on a more private level.

I wish you all the best in your endeavour.

Sincerely,

Stew Keene
Ph (480) 220-7491
Fax (866) 711-8573
StewKeene@yahoo.com
Keller Williams - Scottsdale, AZ
2008-2009 Master of Real Estate award recipient
0 votes Thank Flag Link Fri Jan 9, 2009
Mary,

Would you give me the property address?

There are all kind of different situations on bidding for homes. It depends on the asset management company and other factors.

Feel free to call me with any questions!

Lucinda Tkach
Windermere Central
0 votes Thank Flag Link Fri Jan 9, 2009
HI Mary,

I'll need to know the property address before giving you the information you want.

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PAUL WELDEN
HomeSmart
Buyer's Agent REALTOR
0 votes Thank Flag Link Fri Jan 9, 2009
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