Foreclosure in Santa Clara>Question Details

Nanette, Other/Just Looking in California

I'm interested in a bargain in Santa Clara; a foreclosure? How do I find a realtor who deals with this?

Asked by Nanette, California Fri Jun 29, 2007

Help the community by answering this question:


A lot of people ask about foreclosures. I am very familiar with the process but it illegal for a Realtor to represent investors in a foreclosure purchase. Will you be buying for your own personal residence or as an investor?
0 votes Thank Flag Link Sat Jul 14, 2007
Good deals abound, and some are not distressed sales. The best way is to call and discuss the options as each buyer is unique. I would like for you to call my office that I may learn more of your requirements and unique circumstances to more personally and privately serve your interest.

Kind regards,
0 votes Thank Flag Link Tue Feb 15, 2011
Everyone is looking for the best deal in town. Many people are watching these FLIP shows on cable and are thinking to themselves I can do that. Bank owned homes can be a good deal if you do your homework. Like everyone has said here it is tough deal in many cases and you never know what is wrong with the house. My team and I have been dealing with Country Wide Home Loans on getting all there home that they are getting back due to non payment. I go out look at the home and find out if the owner, renters or even squatters are living in the home. Then we have to remove them from the home and this can tack a while in most cases. Then showing it is a problem. The grass is usually dead, whole are in the walls, junk can be piled up and just all around a big headache.

But from time to time we find perfect homes that the owner just can not get there head above water and they have no other option but to give the home back to the bank. Some times you can get homes for $70,000 or less. The best time to get these homes is at the start of the fiscal year. Most banks have written their dead money off and will make almost any deals to get the home off their hands. Just keep in mind that buying these homes can mean doing a lot of work.
Web Reference:
0 votes Thank Flag Link Mon Jul 16, 2007
I showed Santa Clara today. SFRs, 3 bed, 2 bath, 1300 sqft for approx. $725,000. There were 2 homes on the market that were "short-sales". This may get you a bargain because the seller has no equity in the property, the bank does not want the property back and refinancing may not be an option for the owner. These homes were listed at approximately the market value, although, it makes sense that the seller is mainly interested in getting the home sold and saving his credit, The bank will negotiate the deal in the end with the intent to not get it back in foreclosure. That's not the business banks are in. Try this route.
0 votes Thank Flag Link Sat Jul 14, 2007
Mario Pinedo,…, Real Estate Pro in Cupertino, CA
As Realtors we can help with pre-foreclosures. Foreclosures are handled by the county clerk. This means you have to have the capital to bid on these homes. It also means you have to do a lot of research on the properties and be willing to accept the home AS-IS. Our company is part of the Leading Real Estate Companies of the World. Let me know if I can get you in contact w/ a good agent that can help you find a deal.
0 votes Thank Flag Link Mon Jul 2, 2007
Herman Chang, Real Estate Pro in Palm Beach Gardens, FL
Call Ted Swing at Prudential. I think he can assist you. The phone number is listed below.
0 votes Thank Flag Link Sat Jun 30, 2007
Bruce Lynn, Real Estate Pro in Coppell, TX
Everyone loves a bargain; however, while foreclosures CAN be bargains, they can also be nightmares, especially for first-time buyers. For example, while previewing a foreclosure for my clients, a neighbor told me the prior owners were meth addicts (meaning home could potentially be a meth lab, which fact, if known, by law must now be disclosed--except in bank-owned foreclosures there are rarely inspections or disclosures provided). Oh, and they also planned to put cement down the sewer line. (No we didn't get that one.)

First, pray for wisdom to find and recognize the perfect home for you. If the lure of the bargain TO YOU outweighs the risks of things like I mentioned above, then shop for an agent. Often a truly excellent Buyer's agent can help you better define your wants, needs and qualifications, THEN find a realistic bargain that's right for you--perhaps even something not on the market. For example, if you want a certain neighborhood, look for an area specialist (hint, they may have a website or slogan they use specific to that area so you can try search terms with that info. I specialize in Lynbrook High Homes, so my website is, for example). Those agents are more likely to know about homes not yet on the market (upcoming listings) and others potentially needing to sell soon due to job transfer, graduation, health, etc.

Also, look for an ABR-Accredited Buyer's Representative. Check with places like the BBB. Look for agents in places where foreclosure info is posted, such as Once you find one, ask if they have experience & also are they registered with REOtrans, a system for submitting offers for bank-owned properties.

Here's an encouragine example for you. I had a client in May who wanted a fourplex in a specific school district, and wanted to buy it before school starts in August--the only problem is there are only 45 of them at all (no challenge there), none were on the market and this area typically gets between 5-10 direct and hand-delivered RE solicitations WEEKLY.

OK, so I prayed a lot first. :-) I consulted with my client on exactly what he needed, fully prepared him (pre-approved with lender who could close in 7 days, had him sign a contract), then devised a strategy and a marketing plan designed to get these previously-resistant sellers to call me. God answered our prayer and the only owner who responded was the one who had absolutely the most desirable property of that type in the area, and took exceptional care of it. We paid a fair price, which is actually a bargain because of how meticulously cared-for the property is--and today my client is now registered for the school his son needs. I see miracles in this business every day. I hope you find one, too.
0 votes Thank Flag Link Sat Jun 30, 2007
Hi Nanette, there was a really great discussion on a very similar topic today... with some really great great answers. I put the link below. i think it would be worth your time to take a quick read through.
0 votes Thank Flag Link Fri Jun 29, 2007
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