Foreclosure in San Francisco>Question Details

mtrunnell, Home Buyer in San Francisco, CA

My current agents have not sent me or discuss anything but normal sales. How do I take the next step with properties on your website?

Asked by mtrunnell, San Francisco, CA Mon Oct 21, 2013

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9
As Oggie suggested, if you are dating a bunch of agents, none will be too motivated to jump through hoops for you.
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Did you meet with your AGENTS and sign the exclusive buyer agreement?
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Did you review with your AGENTS your financal situation and what you would be qualified to buy?
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Did you discusss with your AGENTS the correct strategy to make a successful purchase based on your purchase power, not your 'Wanna Have' desire.
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Have you discussed your situation to detemine the type of real estate you should buy?
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Has your timeline been established?
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Are you ready to act or are you lurking about "LOOKING FOR A DEAL?"
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Have you discussed with your agents the situation of the real estate you want to buy?
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Have those conditions changed?
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Are you second guessing your agents simply becuase the reality of LOW INVENTORY is discouraging you?
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You have options. All of them will require you to get serious.
Will require you to make a committment to your 'one and only' agent.
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Be clear what you will do and when. If your agent suggests offering 90% of list price is you, being smarter than those who help buy and sell dozens of home every year, decide to offer 60% of list price...you are NOT being serious. In that case you need to start dancing with more agents who will not be too motivated either. This is not a hobby for the agents.
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If you want to look at REO, shorities, and other purchase options, and there are many, you must have that conversation with your agent. There are many things that must be discussed regarding what you are willing to do, able to do, and ready to do. No one want to send this time with someone who is not loyal.
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best of success.
1 vote Thank Flag Link Mon Oct 21, 2013
Hi,

Please know that you are on a site where real estate professionals answer your questions versus the site itself. That said, it is unclear what exactly you are looking for and with whom.

Perhaps start with asking your agent to educate you about foreclosures and the possible opportunities with them. Should you be looking for foreclosures in San Francisco, there are fewer now and they often do not represent the deal a buyer is looking for. Clarity on what you wish to achieve will go a long way.

Foreclosures generally show up alongside other listings on the MLS.

For additional information, please go to my website at http://www.sanfranciscoresidentialhomes.com or call me at 415-200-7202.
0 votes Thank Flag Link Tue Oct 22, 2013
I wrote a blog about finding foreclosures on Trulia. I'll put a link to it in the web reference below. That should answer all of r questions.

J.R. Thrasher
http://www.SanDiegoRealEstateVeterans.com
619-929-0105
0 votes Thank Flag Link Mon Oct 21, 2013
What did you want your agent(s) to discuss with you? If we read between the lines, perhaps you're looking for "special" properties? In any event, Trulia offers you a wide range of opportunities, but, you'll be at a loss for useful information lest you know exactly what you're hoping to recieve, and let the agent(s) guide you there. Sometimes clients want what isn't there, and though the agents are just the messengers, it isn't always the message folks want to hear.
0 votes Thank Flag Link Mon Oct 21, 2013
Hi,

I am not sure of your full situation and where you are looking and at what price point, but the market has shifted and there are a lot less distressed sales than there once were (short sales and bank owned properties). It may be that in the areas and price range you are looking there are only normal sales available. Also if you are utilizing lending, this could also influence the type of properties that are available to you. If a home needs a lot of work, you may not be able to obtain traditional lending for it. An example would be if you have an FHA loan, a property without a kitchen in it would not work from the lending standpoint.

I would recommend you have a discussion with your agent so you can delve further into the details regarding your home search and for more details about the type of properties you would like to consider. Having a complete understanding of the parameters of your home search (type of loan you are obtaining, price point, size, location), will really help to determine the type of homes that might be best suited to you.

Hope that helps!

Lisa Cartolano
Alain Pinel Realtors
BRE 01715440
http://www.ViewOaklandHomes.com
http://www.ViewOaklandHomesBlog.com
0 votes Thank Flag Link Mon Oct 21, 2013
Have a conversation with your agent. They may have excluded distressed sales, or what you are looking for doesn't exist and they is why you are not receiving it in an email.

If you are looking for foreclosure homes, foreclosure homes are not the bargain they appear to be. If you are looking at Foreclosure Radar, Realty Trac or the like, these are sights designed to gather information to sell you a service or sell your information for a gain. Please keep that in mind.

There are Short Sales, Bank Owned, and Foreclosures. A real foreclosure is when the owner has defaulted on their debt and THAT debt is foreclosing. It doesn’t necessarily remove any superior liens over the subordinate lien. What that means if you go to the court house with your required cashier’s check you could be purchasing the foreclosed debt, along with the first, property taxes, contractor liens or any other combination of problems.

So I highly caution all buyers that that route is only designed for those with a lot of knowledge, resources, and are ok with the potential risk to liability, financially solid investors.
0 votes Thank Flag Link Mon Oct 21, 2013
Hello, If I was in your shoe...I would speak with your agent ,have clear communications and goals as to what you needs are.

Lucky Chan
Real Estate Broker
415 337 7110
Lucky@LuckyChan.com
0 votes Thank Flag Link Mon Oct 21, 2013
How many agents do you have!? Are you referring to the listing agents of properties you've inquired about? If that's the case, I recommend starting a relationship with one agent and then searching for properties together.

Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA BRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
Web Reference: http://www.oggikashi.com
0 votes Thank Flag Link Mon Oct 21, 2013
What exactly is it you are looking for? And if you have more than one agent, that could be a big part of the problem. No one worth having is going to work on anything other than an exclusive basis. You should also know that there are a lot of off market properties in the city.
0 votes Thank Flag Link Mon Oct 21, 2013
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