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Property Q&A in Fairmont Village : Real Estate Advice

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  • Local Info0
  • Home Buying1
  • Home Selling0
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Activity 3
Wed Apr 16, 2014
lumitopaz asked:
This question was asked from this property:
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Mon Dec 31, 2012
Terri Day answered:
This is most likely the back taxes due rather than the actual sale price. Check with a realtor who can usually get more details for you. If it sounds to good to be true, it most of the time isn't true. ... more
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Sat Dec 22, 2012
John Juarez answered:

The property to which you linked is not for sale, as has been noted in prior comments. When it does go in the market – whenever that may be – it will not be offered for $1,000. I am sure you are aware that the ground beneath the home is worth far more than that.

What you have seen on Trulia is a notice of default or foreclosure posted by Realty Trac which is a reporting service. Realty Trac takes information from public records and provides it by subscription to its members who have registered and agreed to pay a fee for the information. What you see on Trulia is an abbreviated report from Realty Trac in order to entice you to sign up for their service.

It is unlikely that you will be able to buy this house for the price posted on Trulia. That is the amount of a default and has no relationship to the value of the property. The house may be offered for sale at a later date but it will most likely be listed with a Realtor and priced at a price that reflects the market price for the area.

If you are serious about buying a house, you need to align yourself with a full-time, experienced local Realtor who can help you to find the house that meets your needs. Your Realtor can help you to learn about the current market conditions, realistic house prices, loan qualifications, negotiating strategy, escrow management, inspections and everything else that goes into the purchase of a home.
... more
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