Home Buying in Michigan>Question Details

Kimberly, Other/Just Looking in Michigan

Are the listed REO prices accurate or just what people owe? How do you find the asking price?

Asked by Kimberly, Michigan Mon Jan 26, 2009

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Kimberly, Take a look at these places....http://www.mcbreo.com/ .. Hud foreclosures for your state.

Gov. homes for sale....

REOs for your state...
I did countrywide as an example, use the above to search the lenders REO property sites

Best of luck, Dunes
0 votes Thank Flag Link Mon Jan 26, 2009
The 2 are not related to each other. When a unit is listed in foreclosure often times what is owed is a great deal higher than what the property gets listed for so the value issue is of no relevance. Negotiations can still be made though with low listed prices. What is the worst that can happen with an offer? It gets denied?...so you put in another one. If it gets countered,...well have in your mind what your final price will be when you make your first offer and hopefully you will have the winning bid! In this market there are no formulas as to what will get you the property that you want at the price you want. You just have to stay aggressive and on your toes, bc prices are so low often times there are multiple bids on the really low properties.
Liz Tintinalli
Real Estate One
Web Reference: http://www.lizindetroit.com
0 votes Thank Flag Link Mon Jan 26, 2009
Well depending where you are viewing these ....................if you are viewing on the local MLS or here on trulia, that should be the sales price...................Realty Trac sometime list the mortgage pay off. However all of the REO's should be listed on your local MLS and that is where you should go to see accurate information.
0 votes Thank Flag Link Mon Jan 26, 2009
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