Foreclosure in 19335>Question Details

ML, Home Buyer in 19335

I looked on the Trulia & sometimes, i saw they listed those RealtyTrack owned, how can i buy those houses?

Asked by ML, 19335 Thu Feb 21, 2008

how can i contact Broker/Agent to help me buy those homes, thanks very much.

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3
My suggestion would be access County Courthouse records. You can find who the owner and/or the note holder. County records are accessible online. I recommend a google search. Chances are the home is on the sheriffs list of sales. Realtytrac encourages people to pay fees for their information; again you can find the same data from County Courthouse documents. Why pay them?? I never hear of anyone successfully purchasing from these foreclosure sites. I recommend getting a good agent for representation, too.
1 vote Thank Flag Link Thu Feb 21, 2008
Hi,
Realty Trac collects public data from courthouses about legal proceedings on real properties. The fact that there is a legal proceeding on a property is not indicative that it is for sale. Many homes that are the subject of legal proceedings are resolved through other means. Quite commonly, these legal actions are foreclosure complaints. Resolution may come in the form of restructuring the financing, leveraging other assets, borrowing from friends or family, or a formal repayment plan through a bankruptcy.

Because you see a property listed on Trulia, it mistakenly leads one to believe it is for sale. It may not.

You can pay Realty Trac for additional data....or you can work w/ a Realtor who can provide the same data to you for free if you are their customer or client. A Realtor can contact the homeowner and inquire if a property might be for sale. Quite often, the homeowner does not know what they intend to do, and may not be receptive to your inquiry. Other times, properties listed on Realty Trac are already actively listed on MLS. A Realtor can help you either way.

The amount listed on Realty Trac represents the amount involved in the legal action, not the "for sale" amount. There might also be other liens against the property and in order to pass clear title, all liens need to be cleared.

Good luck.......

You might also want to look into REO properties.
0 votes Thank Flag Link Tue Feb 26, 2008
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
Contact
If it is a sherriff sale or something close to this, you should have an agent on your side. i had a foreclosure listed that need to sell and offer approved within 30 days of getting the listing. As you can imagine, this was hard to get a buyer in that was willing to basically settle within 2 weeks. Are you willing/able to settle that quick? You have to move fast on these houses to get them. Let me know what I can do to help. I have been on both sides of the transaction. It will be very hard to do it on your own and you don't need to. You pay the realtor nothing to buy a home. Call me or email me anytime. I will send you some homes - for free. Don't pay to get what a realtor can get you for free. These sites will charge you to find these homes, and then leave you stranded to get the home to closing. Definitely use a professional.
0 votes Thank Flag Link Tue Feb 26, 2008
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