It may be possible but you should really speak to someone from a national mortgage lending institute. Where do you want to buy property?
You may want to speak to someone at an international bank like HSBC, however, HSBC is not writing mortgages in Western New York. Let me know how you make out.
Joe Sorrentino - MJ Peterson Real Estate
Keep in mind that assessed value has no bearing on market value; regardless time on the market, in oder to determine a fair offer one needs to review comps, recently sold similar properties in the immediate area, see what the data suggests and go from there. If you are not working with an agent consider the idea, so that an informed decision can be made. Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously...... more
It really is not that bad here in WNY as it is in other parts of the country. Short Sales are also not usually a pre-determined or advertised thing. It is a sale that takes place where the seller is going to owe more than what they are going to clear with pay-offs and closing costs. The transaction is usually contingent upon lender approval. Many times, the primary lender involved requires that the seller go on a payment plan. If there are other lien holders involved, they also have to cooperate. Thus, more times than not, people walk away and the property get foreclosed on. Things may change in the future here as more people are faced with job loss or a reduction in a household income. You say that you are considering buying if you get a good deal. So is everyone else! If you don't see a fabulous deal, then you won't buy? Keep looking at the foreclosures but, are you qualified for the purchase from a lender, especially a distressed property? A lot to think about there.... more
In each properties ad, it should show the listing agent and hacve a link to their page with their contact information. Unfortanately you will have to search the listings for foreclosures. There is no list of agents without finding their ads first here on trulia. Your best bet is to hire a buyer broker in your area to get you a list of all the homes in Multiple Listing in your area. Many times you can agree that it costs you nothing extra as the commission is pai by the listing broker not you. Good luck in your search... more