Home Buying in Downtown>Question Details

Christina, Home Buyer in District of Columbia

How do I learn more about foreclosed properties and purchasing options in DC?

Asked by Christina, District of Columbia Mon Mar 30, 2009

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Hey Christina,

Looks like the others have referred you to some great informational sites on the subject. However, if you're just looking for information on foreclosed properties that are currently available for sale in DC, working with a Realtor is really your best bet - and I'm not just saying that b/c I'm biased ;-)

The bottom line is, Realtors have direct access to the MLS database that contains all current listings - foreclosures or otherwise - as well as all details related to those listings. Unfortunately, consumer websites like this one can't provide the same level of detail that your Realtor can.

As for "purchasing options," it sounds like you might be interested in learning more about different financing options for your purchase? If that's the case, I'd be happy to refer you to some great lenders who could discuss those options with you in detail.

Feel free to reach out to me at any time if you're interested in any of the information mentioned above, or if I can be of help in any other way. My contact information is all below. And either way, best of luck with your search!

Cheers,
Alia

---
Alia J. Khan
Realtor + Recovering Attorney
Real Living | At Home
Dining Editor | Bisnow Media
http://www.UrbanLivingbyAlia.com
202.957.2542
alia@rlathome.com
0 votes Thank Flag Link Mon Nov 11, 2013
I do not work in DC... but I am linking here a blog which might help you. You'll basically have the same experience regardless of what side of the river you're on (I am in No Va). Follow the links (in blue) to get to the stuff about REOs (those are the bank owned/post foreclosure properties).

If you need a referral to a good agent in DC, I'm happy to provide one. But no matter where you find your agent, make sure they know the market (at least as much as you will after reading the blogs referenced below) and make sure you trust them. You need a good buyers agent in this market - do not buy from a listing agent.
0 votes Thank Flag Link Tue Mar 31, 2009
Christina, The Banks and Gov. maintain sites where the public may view their properties for sale (REO/Foreclosure) and these sites also explain the Bank/Gov purchase/bid process.
These sites will provide you with links to all the Bank/Gov sites...
http://www.biggerpockets.com/bank-reo.html
http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp... Check them out

This is where you can learn about the Tax sales in DC....
http://otr.cfo.dc.gov/otr/cwp/view,a,1330,q,594443,otrNav_gid…

Good Hunting, Dunes
0 votes Thank Flag Link Mon Mar 30, 2009
Christina-

I would interview a couple of agents to work with you as a Buyers Agent. A Buyers Agent will explain the entire process to you, show you homes, negotiate on your behalf and help you with your purchase.

You want to make sure they have experience in working with Foreclosed Properties. Myself and my team would be happy to meet with you to discuss your options.

Who pays your Buyers Agent? The sellers.
If you go directly to a Listing Agent; they can also help you; however are representing the Sellers and the Sellers Best Interest, not yours.

For more information, give me a call.
0 votes Thank Flag Link Mon Mar 30, 2009
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