how do I purchase a preforclosed home? do I go thru a real estate or the owner?

Asked by Pat Rea, 156-34 79th St, Howard Beach, NY Mon Mar 17, 2008

three properties as follows:
91st St and 161 Ave - $570,000
158th Ave & 96th St $217,000
88th St & 162nd Avenue $455,000
all one family - mother/daughter type homes

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Deborah Madey, Agent, Brick, NJ
Mon Mar 17, 2008
Are you sure these homes are for sale? Because you found these on a real estate site that indicated they were in a foreclsoure process does not mean they are 1) still in a foreclsoure process or 2) for sale.

If these properties are listed w/ a broker, I suggest you find a buyer agent to represent you in lieu of working w/ the agent who is representing the seller. The agent working w/ the seller is representing the seller to get that seller the highest price and best terms. You want a buyer agent working on your behalf.

If you found a list of foreclsoure properties, keep in mind these seller may have no interest in selling.
The fact that properties appear on Trulia as foreclosures does not mean they are for sale. It only means that there is a legal action pending.

Some pre-foreclosure properties are for sale...others are not. If the property is not lsited, you can try to approach the property owner on your own and inquire if they might be willing to sell. I strongly recommend you hire a buyer agent to represent you instead of approaching the property owner on your own. Owner w/ properties in foreclsoure are approached by many strangers, some with a shortage of scruples. The owners become quite skeptical. A property owner may be more responsive and communicative w/ an agent.
1 vote
Rene, , 11368
Sun Mar 23, 2008
I could find out right away whether this properties are listed whit a broker, @ preforeclose stage or on default once I have the correct address since this is my area of work. you may contact me at my cell 917-683-2927
0 votes
Realtor, ,
Mon Mar 17, 2008
First of all unless that owner has his home listed with an agent, you're probably going to have a hard time getting them to sell to you. It will probably be foreclosed upon and then listed on the MLS with an REO listing agent. I would find a good reliable Realtor in your area and ask them to see if they can help you. Good luck...
0 votes
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