Foreclosure in San Ramon>Question Details

Homebuyer, Home Buyer in Fremont, CA

Does anyone know how to buy bank-owned property at San Roman?

Asked by Homebuyer, Fremont, CA Wed Apr 16, 2008

I'm interested a 4-5 bedrooms house close to school. How much shall I pay approximately? Do I need agent to buy?

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The banks are using realtors who specialize in selling bank-owned properties to market them, so most if not all bank-owned homes are on the multiple listing service, which you can access here, or at realtor.com, or at any realtor's website where you can sign up to get automatic emails when a property meeting your criteria comes on the market. (in my search and notification system, you can specify reo or short sale property...)

My advice when buying either bank-owned or short sale property is to have LOTS of patience. It CAN take a very long time to get responses from the bank, (2 weeks sometimes, for a counter offer, 30 days in one case, but 1 day in another..) and they don't do things the way any of us are used to, but you can get a great deal.
0 votes Thank Flag Link Wed Apr 16, 2008
Good Morning Homebuyer,
I would be more than happy to help you in your search. One of your first concerns should be to catch all REO properties that hit the market within your parameters. If you contact me directly at ajcohen@apr.com I can set up a property minder search alert that will send everything your way daily, with price adjustments as they happen.
Have a great day,
AJ Cohen
0 votes Thank Flag Link Wed Apr 16, 2008
You don't typically need an agent. However, given the fact that the seller, or in this case the bank, pays the fees do to the buyers agent, it's always smart to have one. In order to purchase a bank owned property, ask an agent who is familiar with REO's, short sales, and foreclosures to show you what is currently available, and what a good price for these properties would be in any particular area. From there, your agent will handle all aspects of the transaction, and guide you through the purchase process. If you have any questions, I'm very experienced with these types of purchases, and am available at (925) 270-6213.
0 votes Thank Flag Link Wed Apr 16, 2008
You can hire a buying agent to help you with price comparison, inventory updates, and contract negotiations. I recommend that you start by engaging conversation about REO's and foreclosure process. Your question is very broad and if you need specific questions answered, please feel free to email me.
0 votes Thank Flag Link Wed Apr 16, 2008
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