Home Buying in Saint Louis>Question Details

Darrell, Home Buyer in Saint Louis, MO

Searching for a Realtor who specializes HUD/ VA Repos

Asked by Darrell, Saint Louis, MO Thu Oct 16, 2008

I will be moving to St. Louis in Jan. 09. I would like to buy a repo home to live in while I fix it up. Ares of St. Louis that I am interested in living are (in order of precedence): Clayton, Soulard, University City, Brentwood, Central/ West End, Maryland Heights, Crevecouer, Ofallen and Olivette. I would like to start the process now, so that I can move in as soon as I arrive in STL.

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Darrell,

You will love St. Louis!!! I specialize in Short Sales and Foreclosures. I have relationships with several Banks. I am happy to assist you, however, would like to learn a few more specifics regarding your situation. Please contact me if you need any further assistance.

Sincerely,

Sheila Gerken-Worley
The Best Seller GMAC Real Estate
636-299-1884

"Short Sale Specialist"
0 votes Thank Flag Link Sun Jan 25, 2009
Darrell,
Don't know if you found someone to work with by now since your post is about a month old, but....not only are we a HUD approved company (Any Real Estate Agent can sell VA homes). We also list foreclosed homes for banks to sell so we have our own inventory that's available.

We are so in tune with Foreclosed properties that we were the first in the area and received much press for launching House2Home Tours, a free bus services that takes buyers and investors around to view homes at the same time educating them on what to look for. If you're interested feel free to call us and I can have one of our foreclosed home specialists get you any information you'd like with no obligation or nagging on our end.
0 votes Thank Flag Link Thu Nov 20, 2008
Hi Darrell,
My name is Amber Cook, and I am the broker and owner of Homecoming Realty. I am a HUD Approved broker! I would appreciate the opportunity to help you search for a HUD/VA repo in our city! I have sold these repos in the past, infact, I have a buyer closing on a Hud foreclosure this Wednesday! There are many details to closing these transactions successfully, so it is good to work with a Realtor who is familiar with these transactions! If you are planning on using FHA financing on a HUD foreclosure, they have many wonderful incentives for owner occupant purchasers right now in the state of MO!!! It gives you wonderful incentive to purchase these types of foreclosures! If you have any additional questions, please feel free to contact me anytime, my email is homecomingrealty@sbcglobal.net, our website is http://www.homecomingrealtyllc.com My husband and I work together as a team, and would appreciate the opportunity to help you in your search! We have 18 years experience in the real estate industry, and we both have our Bachelor degrees from the University of Missouri--Columbia. If we can help you any further, or if you have any questions regarding some of the purchaser incentives that HUD/FHA is currently offering, please let me know! I look forward to hearing from you!
Best regards,
Amber Cook
314-484-6396
0 votes Thank Flag Link Fri Oct 17, 2008
Welcome to St Louis! From your picture, I'm presuming you are military. My husband is retired Air Force and I'm an Air Force Vet. I work the entire St Louis metro area on the Missouri side and have colleagues that I work with when someone decides that they want to look at the Illinois side of the river.

I can help you with HUD and VA foreclosures, though as the earlier agent noted, many foreclosures are in poorer shape and you cannot always get an occupancy permit to live in them until you have done some work on them to bring them up to acceptable standards, so you may need to plan on alternate housing for an initial time period depending on the home that you select. When a home cannot get an occupancy permit (and hence you cannot move in right away), it also has an impact on the type of loan that you can get for the home. Another factor that you have to consider is that banks work on their own time line. With a "regular" contract, we will have a contract negotiated and accepted in a day or two and close within a month to 6 weeks from the acceptance date. With a foreclosure, some banks will work quickly and want you to close within the month, but others may not even accept your contract for a several months. Typically HUD and VA foreclosures have already gone through more processing, so we would be able to close within a month to 6 weeks. HUD and VA homes have a very set process for purchasing them that is different from the typical buying process (for more on it, I would recommend that you go to the VA and HUD websites as their procedures are very detailed and much more than I can put in an answer here)

I'm a very no-nonsence person. I'm not going to sugar coat anything. I'll give you honest answers to your questions and if I don't know an answer, I'll do my best to find it out. I'm here to help you. If you send me information on what you are looking for in a home, I will start the search for you so you can see what is out there (we cannot always tell in advance if a foreclosure is a VA or HUD vs a bank, Freddie Mac or other)
Web Reference: http://www.YourSTLHome.com
0 votes Thank Flag Link Thu Oct 16, 2008
Darrell,

I'm glad to hear you will be moving to our wonderful city.

I would be happy to help you with your search. I have a lot of experience with all levels of home investing and the neighborhoods you are interested in.

Some things to consider when thinking about this type of purchase: there are some good deals out there with foreclosed properties and its great that you are willing to take on the project of fixing up the property. If you are doing traditional financing, though, you may have a problem getting a loan if the property isn't "liveable." So taking on a property that needs cosmetic updates is much easier to get a loan for than a home that needs to be gutted or all new systems or something like that.

Feel free to call me anytime to discuss your search preferences and moving plans in further detail.

Stephanie Grossman
Coldwell Banker Gundaker
http://www.StephanieSELLSstl.com
314-313-5403
0 votes Thank Flag Link Thu Oct 16, 2008
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