Property Q&A in Bridgeville>Question Details

Jena, Both Buyer and Seller in State College, PA

is this home still on the market?

Asked by Jena, State College, PA Mon Feb 9, 2009

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This question is about this property: http://www.trulia.com/foreclosure/2003034732--Mallard-Dr-Bri…

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3
Jena
This home is not on the market. Great answers below point out what is involved with the foreclosure process. I have checked the MLS and it has not been on the market since Jan 2003 when it sold. Are you interested in making an offer?
0 votes Thank Flag Link Wed Jul 28, 2010
The address of the property is 319 Mallard Dr. and the answer to your question is that the property appears to currently be in a law suit and is not currently for sale. However, I would advise you to call a local agent in your area for additional information and ask them to look it up on the MLS.

Jeff and Cheryl Fox

Properties Plus
818-995-9108 Office
800-917-8080 Toll Free
818-207-2013 Cell
Email: mail@jeffandcherylfox.com
Webstie: http://www.jeffandcherylfox.com
16133 Ventura Blvd. 7th Floor
Encino, CA 91436
0 votes Thank Flag Link Mon Feb 9, 2009
Websites, such as Foreclosures.com or RealtyTrac or this one, try to get you to pay for their services. Actual addresses are not published. As much as they try to be punctual with the timing of posting foreclosed homes, they are usually way too early or too late.

The foreclosure process is quite lengthy and starts when the borrower defaults on the loan. The following steps are included but are probably not all of the steps in the process after the borrower defaults.

- The lender petitions the court to sell the property.
- Borrower notified, has chance to catch up on payments, fees, remaining balance of loan.
- Borrower can't pay, home is slated for sheriff sale.
- Borrower can petition the court to stay the sale.
- If the sale goes on, potential buyers bid for property.
- If the property is sold at sale, sheriff evicts squatters (prior borrowers).
- If the property is not sold, the bank “buys” the property back.
- Bank puts the property on the market through a broker.
- For lenders who have VA or FHA backed home loans, they give the property to those agencies recovering the funds and those agencies either list with a broker or post those properties on their own web sites.

Now, even before this happens, the borrower sometimes lists the property (with the lender's approval) as a short sale (the price of the home is less than what is owed).

Moral: Get a real estate agent to help you out. They can show you properties which are either in foreclosure or will be a short sale. They can also assist you with properties which are slated for sheriff sale to see if they would be profitable.

Hope that helps,

Terrence Charest, e-Pro
0 votes Thank Flag Link Mon Feb 9, 2009
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