Foreclosure in Austin : Questions & Answers

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Mark Levy, Real Estate Pro in Austin, TX
Mark Levy answered:
How can I find out how much a property auctioned off for on the courthouse stepsss?
http://www.co.travis.tx.us/tax_assessor/foreclosure/tax_sales.asp
0 votes Share Flag Sun Mar 10, 2013 Foreclosure in Austin
tim moore, Real Estate Pro in Nags Head, NC
tim moore answered:
So I understand buying a REO/ Foreclosed property is next to impossible as a buyer. Whats the best way to purchase this kind of home??
Whoever you have been speaking with you should maybe stop. Buying a bank owned home is not hard or impossible, in fact it is pretty straight forward. Once the bank owns it and decides t ... more
0 votes Share Flag Mon Feb 18, 2013 Foreclosure in Austin
Bill Friedri…, Real Estate Pro in Austin, TX
Bill Friedrich, GRI, CDPE answered:
Regarding INVESTORS PURCHASING HUD HOMES
Hi Carla,

It is my understanding that an Investor has the same option period for inspections as Owner/Occupants. However, Investors Earnest Money (not Option Money) is at risk of be ... more
0 votes Share Flag Mon Feb 11, 2013 Foreclosure in Austin
Guy Gimenez…, Real Estate Pro in 78704
Guy Gimenez ABR, CRS, GRI answered:
Borrower has defaulted on a hard money loan. $112K interest. What are typical trustee fees to handle the foreclosure? Thanks for all input.
Is there no way to convince them to do a deed-in-lieu? It would be much less expensive and much more timely. Fees can range dramatically but make sure your attorney helps you follow th ... more
0 votes Share Flag Sun Jan 13, 2013 Foreclosure in Austin
Michael Emery, Real Estate Pro in Minneapolis, MN
Michael Emery answered:
I am interested in a foreclosed home that will be on home path soon. I talked to the listing agent and she did the BPO for the home.. but...
If they disagree with the BPO valuation they might order a second BPO. And if the 2nd BPO is wildly different than the 1st, they would ask the agents that did the BPO's to justify their ... more
0 votes Share Flag Thu Aug 30, 2012 Foreclosure in Austin
tim moore, Real Estate Pro in Nags Head, NC
tim moore answered:
My home was foreclosed. My parents want to tranfer their property in my name. Will this cause me some problems?
I don't see where it would be a problem assuming the house has no mortgage on it. Speak to a lawyer to draw up the paperwork to do it.
0 votes Share Flag Thu Aug 30, 2012 Foreclosure in Austin
Warren P. Wi…, Real Estate Pro in Round Rock, TX
Warren P. Wilcox, REALTOR answered:
how much should i bid on a house that is $115,000 but valued at $140,000?
Way too many variables to answer this question on this forum, your Realtor should be able to professionally advise you. If you are referring to tax value, just remember, the house is li ... more
0 votes Share Flag Thu Aug 30, 2012 Foreclosure in Austin
Matt Schroed…, Real Estate Pro in Austin, TX
Matt Schroeder answered:
Can our offer on a foreclosure be accepted if the bank has sent a counter offer to another buyer?
Yes, they don't have very long to accept or decline. If the they don't respond, the bank will move to you, UNLESS there's someone in front of you now.
0 votes Share Flag Mon May 19, 2014 Foreclosure in 78753
Cyndi Bell, Real Estate Pro in Cedar Park, TX
Cyndi Bell answered:
I am trying to locate accurate foreclosure data for Austin. Preferably the ratio of foreclosures per 1k homes, by type (SFR, townhome, etc). Thanks
I would seek out information from Realtytrac.

They track foreclosure information.
0 votes Share Flag Wed Jun 27, 2012 Foreclosure in Austin
Shanna Rogers, Real Estate Pro in Murrieta, CA
Shanna Rogers answered:
Can someone who's house is about to go into foreclosure, deed their house to me, and if so what will I need to qualify?
Hi Adriane_ajs,

Yes, they can Deed the house to you but if the loan(s) attached to the property is not paid and brought current, the lender(s) will still foreclose. If you don't wan ... more
0 votes Share Flag Tue May 15, 2012 Foreclosure in Austin
John Crowe, Real Estate Pro in Austin, TX
John Crowe answered:
will fannie mae provide a survey for house if I buy a foreclosure from them?
Ask. It's unlikely, though they may offer a concession. You might also ask your agent to search public records, see if a survey was filed or find the title company who performed th ... more
0 votes Share Flag Wed Mar 14, 2012 Foreclosure in Austin
KRISTEE LEON…, Real Estate Pro in 78734
KRISTEE LEONARD answered:
Looking for a foreclosure list for Austin. Can someone recommend a company like the Roddy Report in Dallas, but for Austin properties?
I can email you the foreclosures available in the Austin area. Please contact me at 512-695-5144 or kristee@theleadersrealty.com.
0 votes Share Flag Wed Feb 15, 2012 Foreclosure in Austin
Albert Elhage, Real Estate Pro in Austin, TX
Albert Elhage answered:
What is the best way to purchase a foreclosure in Austin?
Hi Eric,

Get an Austin realtor to help you identify the properties that meet you criteria and have him/her put offers for you and follow it through.

With foreclosures, we are usua ... more
0 votes Share Flag Mon Feb 6, 2012 Foreclosure in Austin
Charles Runn…, Real Estate Pro in Austin, TX
Charles Runnels answered:
How to win a multiple offer foreclosure?
Banks are horrible property owners! Sometimes foreclosures are clean and sometimes they aren't. The only thing you can do is hope that both agents keep in contact and there is a ... more
0 votes Share Flag Mon Dec 3, 2012 Foreclosure in Austin
Lyle Wolf, Real Estate Pro in Rockaway, NJ
Lyle Wolf answered:
How would I find out about homes that could be purchased in a short sale...before foreclosure?
Homes that are offered for Short Sale must be listed with a real estate broker on the local MLS (Multiple Listings Service). To get infromation on these homes contact a local Realtor.
0 votes Share Flag Sat Mar 23, 2013 Foreclosure in 78704
Laura Feghali, Real Estate Pro in Stamford, CT
Laura Feghali answered:
So how do I get details about when and where a given auction takes place? Can I have an inspection of the property before the auction? Who can show?
Hello Theloo,
Here is a link to Travis County's foreclosure list and additional information from the County Assessor's office. It states that the Austin Chronicle publish ... more
0 votes Share Flag Sat Jul 30, 2011 Foreclosure in Austin
Tomas A Corzo, Real Estate Pro in Austin, TX
Tomas A Corzo answered:
Are there deficiency judgments in Texas?
Sam,

There are deficiency judgments in all 50 states.
In Texas, they usually come by way of a 2nd mortgage or an equity line of credit that was not paid.
The best way to avoid th ... more
0 votes Share Flag Tue Jun 14, 2011 Foreclosure in Austin
Alison Shuman, Real Estate Pro in Austin, TX
Alison Shuman answered:
Texas Condo was purchased at a foreclosure sale set by condo association. Can original lien holder still foreclose -buyer from condo sale loses condo?
Because I am not a lawyer, I don't think I can formally answer your question. I do think, however, that the purchaser of the condo at the foreclosure auction needed to keep up the ... more
0 votes Share Flag Sun May 15, 2011 Foreclosure in Austin
Brian Iguchi, Real Estate Pro in Cedar Park, TX
Brian Iguchi answered:
I just found out that the house I am renting was foreclosed on and the new owner wants me to move out. What are my rights?
The mortgage company that now owns the property should be sending out an agent to offer you what is called a Cash For Keys. Unfortunately you don't have too many rights as of righ ... more
0 votes Share Flag Wed Jan 23, 2013 Foreclosure in Austin
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