Foreclosure in Madison : Questions & Answers

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Linda Zivney, Real Estate Pro in Madison, WI
Linda Zivney answered:
Can someone please explain the REO process if a property does not sell at auction? Significant price drop on foreclosed home??
Great question!
When a property does not sell at the Sheriff's sae, it becomes an REO, Real Estate Owned by the lender.
The lender typically has the property appraised, winterized an ... more
0 votes Share Flag Wed Dec 18, 2013 Foreclosure in Madison
Seth Peterson, Real Estate Pro in Madison, WI
Seth Peterson answered:
If a home up for sheriff sale (in WI) has a $15,000 line of equity attached to the mortgage, is the NEW buyer responsible for paying it off?
you would be responsible for all liens on the property. you can contact a title company and pay for a title search prior to the auction, so you know all the current liens prior to plac ... more
0 votes Share Flag Tue Dec 17, 2013 Foreclosure in Madison
Annette Lawr…, Real Estate Pro in Palm Harbor, FL
Annette Lawrence 727.420.4041 answered:
How does one correct errors at trulia?
Chris is correct.
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The data appearing on Trulia has NO RELATIONSHIP to what a real estate agent enters into the local MLS. Trulia receives data from ListHub. Both ListHub and Trulia, ... more
0 votes Share Flag Tue Oct 29, 2013 Foreclosure in 53704
Guy Lofts, Real Estate Pro in Dane County, WI
Guy Lofts answered:
I am an agent in Las Vegas but I have a relative that needs to do a short sale in Deforest.
Steve, we have done a fair few short sales. just got back from the KW short sale mastermind in Austin.
FHA is tough but i would be happy to discuss with them their options. call m ... more
0 votes Share Flag Fri Sep 21, 2012 Foreclosure in Madison
Dennis Kinds…, Real Estate Pro in Madison, WI
Dennis Kindschi answered:
Can a person make a secondary offer on a forclosure property that already has an accepted offer?
You have received a lot of advice to this question. Some good and some a little less. As a broker who has handled a lot of foreclosure listings as well as a buyer broker who specializ ... more
0 votes Share Flag Fri Nov 18, 2011 Foreclosure in Madison
Dennis Kinds…, Real Estate Pro in Madison, WI
Dennis Kindschi answered:
bank dropped reo list price $10K THE same day they countered my offer. was on market 88 days w/NO offers & bam, in comes a 2nd offer. cause 4
I have handled a ton of foreclosures both as a listing agent for the bank and as a buyers broker. NO LENDER will even look at an offer without a full disclosure of buyers ability to ge ... more
0 votes Share Flag Thu Nov 17, 2011 Foreclosure in Madison
Rachel Baehr, Real Estate Pro in Sun Prairie, Madison,...
Rachel Baehr answered:
Is it a good investment to buy a home for 15% below its assessed value? I will only be living here 3-5 years.
Here is the latest and greatest from the Realtors Association of South Central Wisconsin on the latest statistics in the South Central WI MLS. Please note in towards the end of the inf ... more
0 votes Share Flag Thu Apr 3, 2008 Foreclosure in Madison
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