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Foreclosure in Columbia : Real Estate Advice

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  • Local Info69
  • Home Buying161
  • Home Selling22
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Activity 25
Mon Oct 20, 2014
Anthony Schibilia answered:
Foreclosures usually come as is the way you see them. Some have all the appliances including a washer/ dryer and some are missing them all.
0 votes 3 answers Share Flag
Mon Apr 21, 2014
Suzanne MacDowell answered:
Find a licensed real estate agent to work with. Foreclosed properties are only available for purchase once they are listed on the Multiple Listing Service. There are a lot of websites that publish a list of homes that have been foreclosed on, however, those sites are a bit misleading. Just because the bank has taken back ownership of the house does not necessarily mean they are ready go sell it immediately. Find a realtor. ... more
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Wed Feb 26, 2014
Sean Cripe answered:
Hi,

Any Realtor can help you with getting more information, but I highly suggest you find one you like and trust and work directly with them for your home search. A Buyer's Agent will work in your best interest and their expertise with the neighborhoods and the whole home-buying process will be incredibly valuable. We'll be glad to help if you need it. Good Luck!

Sincerely,
Sean & Heidi Cripe
803-719-1887
Realtors & Staging Pros
... more
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Mon Oct 7, 2013
Christine House answered:
Winfred,
Eric would be a good source of info for you since he is in that Market Place.Good Luck.
Cordially,
Christine House
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Tue Jul 2, 2013
Gerald Baxter answered:
803-807-8728 Direct to Cell
0 votes 12 answers Share Flag
Tue Jul 2, 2013
Gerald Baxter answered:
8:30 a.my to 6:00 p.m. Monday thru Friday
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Mon Jul 1, 2013
Ron Thomas answered:
No; the banks will not tell you whom to talk to.
If they are not ready to LIST the house; heaven and earth could not move them.
When they are ready, they want to LIST the house with a Realtor of their choice:
They also require that the Buyer be represented:
Early on; they had too many deals fall out of Escrow, for one reason or another, and that is very expensive for them. And that is not even considering the potential for lawsuits.
Often, there is a long wait, from the Trustee Sale (Foreclosure) to the LISTING.
That is just the way it is.
... more
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Sun Apr 28, 2013
Silver52 asked:
I have a mortgage that was put on my home thru a settlement, but their was a prior mortgage already on the home. Also, will any judgements have to be paid that were filed prior to the last…
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Fri May 11, 2012
Jae Kim answered:
Julie Smith had a very good answer to your question. As she states, make sure you get all your inspections done. As a cash buyer, you have the most to lose. In mortgaged purchases, the bank has the most to lose.

Jae Kim, Broker/Realtor
EXIT Real Estate Solutions
803-348-3052 (cell)
www.jaekimhomes.com
... more
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Mon May 7, 2012
Julie Smith answered:
Hi, would you like some expert assistance in Wildewood? I would be happy to assist.. I am with Keller Williams Realty. Just call me directly at 803-476-6450
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Mon May 7, 2012
Jae Kim answered:
Try to be there when the 2nd quote gets there. Point out what you already know. It will be to your benefit.
0 votes 8 answers Share Flag
Sun Nov 28, 2010
Hope Dorn answered:
Unless I have missed something, the only instance where it is possible to rent a home that is in foreclosure is when the tenant's landlord is actually going through the foreclosure process. Under those circumstances, you may have the right to either stay in the home for 90 days after notice or until the end of the lease. However, both of those precautions can be circumvented. ... more
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Mon Nov 22, 2010
Patty Allen answered:
FIRST OF ALL, ANITA, YOU ARE NOT ALONE. I am not a realtor nor know about the law. Many e-mails come to my mailbox everyday from Trulia just like yours arrived today. If I can answer a question or give encouragement to someone, I count it as my ministry. I was interested in your question because we live in the same city, and we both trust God who is always in control. Now is the time to draw closer to Him and keep up your tithe above all else to be blessed. He IS your ONLY answer. He'll open up those doors and windows. You do your part, and He'll do his.

I have to agree with Pam and Ruthless saying to go to the media. You know our tv news people really get into these stories, and the people watch them. It's almost Thanksgiving and soon Christmas. People open up their hearts this time of year. I saw that 62 people looked at your question from many states and only 6 answered! But this was the first place you came to openly find hope and the right answer. It was a divine appointment that you came here, and I was on here at this time to encourage you, Anita. Another to assist you is Senator Jim DeMint. Anytime I have a question, I write to his e-mail address. The OTHER one doesn't do a thing but send out "canned" letters that could be for anyone for any reason but what anyone needs. I use the internet to fight back for our country as we are losing her. They hear from me by signing online petitions all the time. Then I go to another site to help people needing answers to their questions and situations. I pray about all those who come to these websites.

I've been under the impression for years that Northeast has more homes of various prices and sizes more than other places with better shopping than most of us have. Their largest problem was building all these new homes and schools AND then thought about road conditions not able to handle the traffic. Realtors send new home buyers to Northeast the last 2-4 years. Before that, they sent them to Lexington. Harbison was big when the mall was coming in and more expensive houses and apartments to rent was added. We moved to SC when Harbison was starting off from cow pastures. But we chose renting near the zoo.

I have always wanted to buy a house or build one as our child was 2 when we came here. We went through adversities of illnesses, husband's job cuts through management demotion 1 time to no work paying higher than $10 an hour at 200% below the federal poverty level except 2008-2010 with no help as a hand-up not a hand out (1992-1994.....2004-2008......2010) after 2 years of his having to move away to find work before state budget cuts. Our credit was ruined 3 times just when it was built up again job loss or illness came to start the cycle over again. Now it's 22 years later still in the same apartment with great prices on lots and houses, but we can't afford it, our credit won't be rebuilt until 2014, and are in our early 60's. My spouse has so many degrees and work experience, but he won't take unemploymewnt checks knowing when this is all over with the economy he won't be trying to answer what did you do all this time. None of us here just can't give up nor worry as it will make us ill and not able to think of what do we try next or what will we do. Your faith is there when times are not as we hoped it would be.

Don't fall for the person who is all over the internet who advertises and claims to rent to you as a rent to own giving a second chance. I researched him and found out he is a fraud! We can expect that during these times. I understand what Deborah from N.J. said, but it doesn't help placing why your situation is what it is at the time of job loss or in your case home loss due to mold and uncooperative mortgage people. I have read many stories that years later those disgusting mortgage companies come back years later and want the difference between the short sale and what they think they should have gotten! God nailed those doors and windows shut to protect you.
... more
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Tue Sep 7, 2010
Dondi Phelps Wilson answered:
I would like to add that while negotiating with the bank or the HOA on a short sale, you want to negotiate so you will not be required to pay any deficiency. This is very important to your credit and future purchasing power not only with a home but autos, etc. ... more
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Sat May 8, 2010
Ed answered:
Yes, there is a credit check involve if you need a loan. Is the same financial process as buying a new home. Remember that foreclosure properties are sold in as-is condition ( High risk ) in terms of investment. Ensure you have enough cash, in case you confront a surprise costly repair. ... more
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Mon May 11, 2009
Soldout asked:
I am an agent with several years experience and would like to know where to start the process getting contacts for these listings.
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Wed Mar 25, 2009
Don Tepper answered:
Good answers thus far.

I'm not a lawyer, so this isn't legal advice. However...

You do have a lease with the owner, so I agree with you: Keep paying your rent. However, it should be paid to the owner (via the management company). You have no relationship with/obligation to the bank. Your obligation is to the owner. The speculation below about perhaps the owner feeling guilty and realizing that he may not be able to retain the rent probably is true. Still, pay the rent.

As for the timing, considering it's late March already, you're only talking about staying there an additional two months. If the foreclosure isn't showing up in the public records yet, as a practical matter you're probably fine. A lawyer can tell you what the foreclosure process is in South Carolina and how many days there are between the various steps.

So, contact a lawyer for clarification on the foreclosure process. And also to confirm (or refute) my suggestion that you keep paying your rent.

Good luck.
... more
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Wed Mar 25, 2009
Keith Manson- Metro Milwaukee Wisconsin answered:
When the bank forecloses on a property it goes to public bid, where the highest bidder wins the the property. If there are no bids the bank bids a minium bid which makes them win the property because of the lien on the property (i.e. the mortgage) . After the bank wins the bid, the bank will hire a real estate broker to sell the property. The broker will submit a maketing plan with a value that it should be sold . The bank will also order an appraisal and then list the property at the market value.

So to answer your question, if the price will be reduced or not, will depend on the market value of the property. If the value is higher than the total debt or the bid amount the list price will be lower than the total debt. However, if the value is higher than the total debt the list price can be higher than the higher debt.


Good luck
... more
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Thu Feb 19, 2009
Rumni answered:
All of these responses contain an element of truth to your question. It is true that the "flipping" market has changed, but there are many investors out there that are doing very well. I would recommend that you get educated there are many training materials out there and, ask about coaching sometimes it is included with the purchase of the program. Another advice is to find your local Real Estate Investment club, there you will find seasoned investors who can provide a wealth of information. Good luck! ... more
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