Property Q&A in Schaumburg>Question Details

Helen, Home Buyer in Georgia

Is this home still available? Thank you.

Asked by Helen, Georgia Sat Jan 3, 2009

This question is about this property:…

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Unfortanately this is only a notice of foreclosure, it is not a property listing. Realty trac pulls notices of foreclosure from the county registries and posts them on their site, trulia picks up realty tracs feed. Realty trac does not list homes but only publishes notices. In the process the owner will have 30 days to bring their account current. after the notice of default,a notice of sale will be given, usually they will have 21 days from the end of the default to pay or make an arrangement to stop foreclosure. At auction if the bank buys the proprty the back, it will be given to an asset manager who will assign it to a local broker, it will be cleaned, appraised and placed for sale at todays market value. Until then you can not realy make an offer as most sellers owe more than the property is worth. If you want to find out more about realty trac i have placed a link on my site for a free 7 day trial. As for this property you will just have to watch for it or hire a buyer broke who can update you throughout the process. good luck with your search Helen.
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1 vote Thank Flag Link Sat Jan 10, 2009
This is not a listing,it is a Realty Trac posting. Realty Trac posts properties that they pull from public records of defaults & foreclosures. This particular property is a Lis Pendens which means that it is not yet in foreclosure & is most likely not even on the market. The $73,000 is probably the amount of the lien and not a sale price. Realty Trac is a for profit site & they make their profit by getting people to register & pay for info that is available for free.I suggest you contact a local agent who can get you the latest 7 most accurate info from the MLS at no cost to you.
1 vote Thank Flag Link Sat Jan 3, 2009

I gave you a thumbs up for your very helpful answer.

0 votes Thank Flag Link Sat Jan 10, 2009
These usally take about 6 months to make it through the legal process. So you need to be patient if
you want this home.

Denis Sharkey Broker/Owner
0 votes Thank Flag Link Sat Jan 10, 2009
No, but if you want a list of foreclosures and other great deals, let me know and I will email you a list with pictures or even better would be to sit down and discuss your choices and plans in person, giving you the benefit of Professional Real Estate Counseling that could help you immensely.
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0 votes Thank Flag Link Sun Jan 4, 2009
Helen, this home is still in the pre-foreclosure phase in Illinois. It has not been officially foreclosed on as of yet so it is not in our MLS currently for sale. It is a nice area and should be on at least a 1/2 acre in a nice custom area with low taxes. Until it actually becomes foreclosed on, we cannot give you any further information.
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0 votes Thank Flag Link Sat Jan 3, 2009
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