I want to buy a house that is in foreclosure in philadelphia, PA but I am not sure if I need a license to get it.

Asked by Princesa_me2006, Philadelphia, PA Fri Dec 25, 2009

can u tell me what is the first step to buy a foreclosure home in phildelphia, pa?

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Barbara Smith, Agent, Marlton, NJ
Thu Jan 7, 2010

The short answer is, no you do not need a license to buye a foreclosure. If you have a particular property in mind you'll need to know where it is in the foreclosure process and if its listed for sale with a Realtor already.

If you are just searching for foreclosures, it may be somewhat more challenging to get the information and deal with the mortgage company directly. There are many foreclosed properties now listed for sale, and I'd be happy to email you a list of those. If you're interested, just send me an email with the area/price you are looking for and I'll send you what's available.

My office is offering a Free Home Buyer's Seminar next weekend. It's not specifically for foreclosures but you will be able to ask questions, and you will get lots of information on the Tax Credit and available mortgage programs.

If you are interested in that, call/text or email so I can get you registered for the seminar.

Good Luck,
Barbara L Smith
Weichert Realtors
NJ/PA Licensed
cell/text: 609-980-7593
email: BarbSmith321@comcast.net
Web Reference:  http://BarbSellsSJ.com
0 votes
Jeff K, Home Buyer, Bristol, PA
Sat Dec 26, 2009
No you do not need a license. There are DIFFERENT types of foreclosures: sheriff sales (real foreclosures), short sales, and REO (real estate owned). For instance, a "true forclosure" is a sheriff sale auction and you will not have an agent or realtor, you better know what you are doing, you are buying "as is", need to understand title and lien issues, AND you need to be able to buy in CASH. And that's just the tip of the iceberg.

Unless we know what type of foreclosure that house is, we can't possibly start to suggest the proper next steps. And yes - it's too much trouble to list them all out. Sorry about that but foreclosures are a big subject.

Would you please provide some more info?
0 votes
CCC, Home Owner, San Diego, CA
Fri Dec 25, 2009
Hi Princesa, is the home for sale?
You could interview some Realtors and hire one!
0 votes
Mike Rosania, Agent, Philadelphia, PA
Fri Dec 25, 2009
You don't need a license but be sure you have an agent that is familiar with the process because it is different than a traditional purchase. Feel free to contact me. I am very familiar with the process. Send me a message or call 267-879-3556.
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