Property Q&A in San Antonio>Question Details

Dustin, Home Buyer in San Antonio, TX

i'm interested about this property, how can i get more details about the house and it's foreclosure date?

Asked by Dustin, San Antonio, TX Wed Jan 21, 2009

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This question is about this property: http://www.trulia.com/foreclosure/2003651377--Sandwick-St-Sa…

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Answers

2
Dustin,

I want to agree with Matt. You do not get an inspection and there is risk in this circumstance.
These are cash auctions and you are generally bidding against a mortage company that has a first lien. The mortgage company can bid up to that amout without coming out of pocket. There is also a period of time where the IRS may file a lien even after you have bought the property.

On the other hand, if you have identified a property, you might want to contact the owner to see if you can work something out.

I agree with Matt that there are good deals all around right now, especially in pre foreclosure property.

Don Reser
0 votes Thank Flag Link Thu Jan 22, 2009
Dustin,

According the the information in the link you provided, its set to be auctioned on February 3, 2009. The best way to get more information on the property would be to register with RealtyTrac. There have been a lot of questions lately about RealtyTrac listed properties and one problem has been that some of the properties have already gone off the market, but are still listed in their system.

Auctions can be a hard experience if you don't know what you're doing and I always forewarn people when they say they're thinking about it. Many savvy investors with experience at the auctions go to these. You need to be able to purchase the property that day, so setting up your funding at a local bank will be helpful. As these are foreclosed properties, they are sold "as is" so be sure you know what you're buying. I've heard stories and seen homes that were absolutely destroyed as the angry homeowner walked away from them.

I looked in our MLS and there weren't any current listings on Sandwick (in the MLS it is Sandwick Drive, not Sandwick Street), so I was unable to track down much more in terms of info (sometimes a little detective work will lead me to an address that it might be).

Whatever you choose to do, good luck. There are many properties in San Antonio that haven't moved to the auction status, so if that's what you're looking for, let me know if I can help you find them. A great resource is the HUD Homes website here for our area (which I've linked below).

Hope that helps.
0 votes Thank Flag Link Thu Jan 22, 2009
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