Bart Marchioni

Hello Maria,

This was a foreclosure that went back to the bank, and I suspect it will be on the market soon. When it comes on the market, it will be a lot more than $11,121 however - that was most likely the defauly amount of the previous owner. The list price will be based on what other similar properties have sold for in the neighborhood.

Trying to buy a foreclosure property can be a very confusing challenge. This is what I do every day, I am a Certified Foreclosure Specialist and work with the banks on a daily basis.

If you would like to learn more about buying a foreclosure, I'd be happy to explain the process to you and see if I can help you. Then we can go see some homes together that will meet your needs.

Best regards,

Bart Marchioni
Real Estate Consultant
Certified Foreclosure Specialist
Certified Short Sale Specialist
Bank-Owned Property Specialist
(408) 266-3100
Bart@ - Wed Oct 8 2008, 20:10

Hi Joe,

You don't need an attorney, you need a realtor who specializes in short sales to negotiate a short payoff of the mortgage with your lender. I am a Certified Short Sale Specialist and negotiate with lenders every single day. I would be happy to share with you the strategies my team and I use to get our short sales approved, when others are stuggling to do so.

It appears that you are a buyer, from your profile. Are you interested in buying a short sale property or would you like to try and sell your home for less than what you owe?

Visit our Website to learn more, and then give me a call to discuss your specific situation to see if we can help you.

Best regards,

Bart Marchioni
Real Estate Consultant
Certified Foreclosure Specialist
Certified Short Sale Specialist
Bank-Owned Property Specialist
(408) 266-3100
Bart@MOREConsultants.com - Wed Oct 8 2008, 00:52

Hi KR,

The best and most common way for Realtors and banks to arrive at an asking price for a short sale or bank-owned home is to look at comparable sales, pendings, and listings, get an average value then adjust for the subject property's condition and location.

What you should offer for the home will depend on three factors- the buyer's motivation, the seller's motivation and the amount of competition from other buyers. Every situation is different, so you will need to consult with a specialist in order to determine the best strategy for you and the home(s) you are considering. I'd be happy to help you, if you'd like.

Best regards,

Bart Marchioni
Real Estate Consultant
Certified Foreclosure Specialist
Certified Short Sale Specialist
Bank-Owned Property Specialist
(408) 266-3100
Bart@MOREConsultants.com - Tue Oct 7 2008, 14:12

Hello Walker, it's nice to meet you!

You are doing the right thing to find an agent who is knowledgable in this area. Finding an agent who focuses on that part of the market is challenging, because many agents shy away from those types of properties, mainly because it's DIFFERENT! They are used to buying and selling traditional homes from traditional sellers. Buying and selling foreclosures, short-sale properties and REOs is quite different, so you want someone who embraces that.

You also want to work with someone who completely understands the process, including:
- Understanding the California foreclosure process
- How to find foreclosures
- How to evaluate a homeowner's situation and recommend the best course of action they should take
- If they want to sell then understanding how to complete a short sale
- How to work with the banks to get a short sale done
- How to work with Asset Managers and banks to purchase and sell REOs (Bank-owned properties)
And lastly, work with someone who has experience with all of these things. In today's market, many agents out there taking whatever business they can, whether they have experience with it or not, just because they are desperate.

I am a Certified Foreclosure Specialist, Certified Short Sale Specialist and bank-owned property specialist, so I work with these types of propeties every day. If you would like to talk with me about the process and how I may be able to help you, please contact me anytime. Also, check out my Website to learn more about me and what I do. You can also search for foreclosures right on my Website!

I look forward to speaking with you soon!
-Bart - Sat Sep 20 2008, 10:33

Hi Marie,

Since the bank already took the property back at the foreclosure auction, your son will be asked to leave immediately. Technically, he has 30 days to vacate the premises due to the California eviction process, but a representative of the bank (most likely a real estate agent hired to sell the home for the bank) will be showing up very shortly to offer him money to leave (called Cash For Keys). They bank will in no way shape or form be interested in renting it to him. They want to sell the house.

I hope that helps. Let me know if you need any additional advice.

Bart Marchioni
Certified Foreclosure Specialist
Certified Short Sale Specialist
408-266-3100
Bart@BartForHomes.com - Fri Aug 22 2008, 13:45