Guess what â€¦ if it WAS available, I'd have bought it myself.
If the listing has the logo for RealtyTrac ...
Then what you are seeing is NOT an actual listing â€¦ it is an advertisement for RealtyTrac.
RealtyTrac is a provider of data for distressed homes. This data is used by investors and Realtors to track distressed homes. When you see the RealtyTrac logo, you are not looking at a home that is actually available for you to buy: what you are seeing at is either (1) the notice of default for one of the mortgages on the property in question, (2) a notice of an impending trustee sale or (3) a notice of a completed trustee sale.
RealtyTrac notices can be very deceptive because they usually give loan amounts, not the purchase price or fair market value. When and if this particular property hits the market, it will be at market price for the neighborhood.
Bottom line: RealtyTrac is trying to get you to sign up for their service.
The following links may be helpful:
When Is The Price Not The Price?
Itâ€™s Too Good To Be True: REALLY â€“ Top 4 Buyer Myths
If you want to know when these or similar properties will actually hit the market, have a Realtor set you up with an auto-feed that will alert you the moment they become active on the MLS.
As for your question, â€œWill it be possible to buy a single family home that is foreclosed for 300,000 an under? The loan amount that is approved is 260,000. Then I have 40,000 to put down. I was looking 3 or 4 bedroom and 2 baths. Hopefully 1500 sq ft.â€
A: Depends on where you want to buy. It wonâ€™t be in San Jose. Donâ€™t assume you can get a foreclosed home for a bargain â€“ in reality, they are priced pretty much the same as other homes and they are all on the MLS.