It is difficult to say what to bid without looking at the home/community and ofcourse comparible homes in the same condition. I am sure your realtor can assist you with a CMA and bid accordingly. You really should have your realtor provide you with a CMA, if not already done. General rule of thumb, if the home was on the market for a short periodof time and there may be other offers on the table, submitting a high offer if not the asking price is not unreasonable. If you want to gamble and submit a low offer, you can see what happens. I have had banks counter offers in the past. Please keep in mind, banks price homes at a price they know will move and are generally below market value. Good luck to you and I hope this helped you.
Most of the pre-foreclosures that are for sale are listed in the MLS, but not all. Because a property is in a foreclosure action does not mean that it is for sale. Many times the owners are seeking solutions through refinancing, work out loans with their existing lender, liquidation of other assets, or borrowing from a family member in order to retain ownership of their home. You can find many pre-foreclosure listings right here on Trulia. But, again, the appearance of a property on this list does not mean that it is for sale. You can find properties and compile lists of interest using Trulia, then research on your own, or with a Realtor, which properties might be for sale and of interest to you.
Those properties which appear on the MLS are actively being marketed for sale. Many of the listings in the Monmouth/Ocean MLS are short sales and pre-foreclosures. A Realtor who follows this market will also have word-of-mouth knowledge of other properties that are for sale but are not listed. And, Realtors who work this market will reach out to property owners who are in a foreclosure action to find out if they might consider selling, when they have a potential buyer. While you can do this on your own, the reception to inquiries from owners under duress is often better when the approach is from a Realtor. Many of these owners have been approached multiple times by unscrupulous individuals with false promises. As a result, their guard is up.
There is no central list of "short sales" other than the fact that any properties being sold as a short sale should be identified as such in the MLS. Property owners, nor lenders report this information anywhere. When property owners make their property available for sale, they should identify it as a short sale, if it is. Many FSBOs do not. Most in the MLS are identified, but sometimes the Realtor does not know, or willingly omits this data.
Properties in foreclosure actions are a matter of public record, and can be obtained in Freehold. If you want to pay a service, you can subscribe, or simply search right here on Trulia, make your list and go forward with or without a Realtor from there.
Deborah Madey - Broker
Peninsula Realty Group - New Jersey... more
Trulia shows 80 foreclosure listings in Freehold at the link below. If you want to find this information for a city in Delaware as well just search for that city from our homepage. Once your results load on the next page you can then select Foreclosures under our Listing Type filter to view those properties.
Customer Service Representative... more