is it necessary to pay a fee to realty trac to get info on foreclosure homes..?

Asked by Marta, Pembroke Pines, FL Mon Jan 26, 2009

how can i get a list of homes as soon as they are in foreclosure 100%
how long must i whait on a short sale if i make an offer ?
how do banks choose if they have more than one offer on a forclouser ?

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8
The Hagley G…, Agent, Pleasanton, CA
Mon Jan 26, 2009
the site below may be of help....it has info on both shortsales and foreclosures....
2 votes
Voices Member, , Benton County, OR
Mon Jan 26, 2009
Marta, Try some of these for information on foreclosures......http://hud1.towerauction.net/cgi-bin/e9_select_county.cgi

http://www.homesales.gov/homesales/mainAction.do

http://www.countrywide.com/purchase/f_reo.asp

http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp
Use this and search thru the bank links (I did countrywide as an example)

Hope this gives you a place to start, Dunes
2 votes
Luis E. Loza…, Agent, Weston, FL
Tue Dec 21, 2010
You need not pay anything, to know the forceclosure in your area working with a Realtor in the area

Call me 954-297-5634
0 votes
Luis E. Loza…, Agent, Weston, FL
Tue Dec 21, 2010
You need not pay anything, to know the forceclosure in your area working with a Realtor in the area

Call me 954-297-5634
0 votes
Myke Atwater, Agent, Santa Rosa Beach, FL
Mon Jan 26, 2009
Marta--A realtor can give you the info, and it costs you Nothing!! Banks will choose what they decide is the highest and best offer (they are looking out for their stockholder's interest, so they need the most expedient as well as most lucrative offer. This is not necessarily the highest $$ offer--it might be cash, or short time to close the transaction, or other contingencies that may or may not be in the offer. Any offer to the bank should be as clean and simple as possible.

I hope this helps!! If you would like, I would be glad to give you a referral to a good agent in your area!

If you need more information, please contact me at
850-305-6256
email: MykeSaysSold@aol.com
http://www.NicevilleHomeSales.com
http://www.DestinHomeSale.com
Web Reference:  http://www.MykeTriebold.com
0 votes
Joanna Morris, Agent, Floral City, FL
Mon Jan 26, 2009
Hello Marta, Many of the foreclosures require you to pay. Some of them are not worth the money. Once a bank takes a home into foreclosure most of the time they ask a Realtor to list the property. A local Realtor would be able to send you them as soon as they hit the listing service. Short Sales vary as to how prepared the seller and the Realtor are for the short sale. The other factor on wait time with short sales would be how close is your offer to fair market value. You can get a deal on short sales about 75 to 85 % of market value. Banks choose just like any seller - they look at all offers and work with the highest offer or stongest looking buyer.
0 votes
Brooke O'Mal…, Agent, Sarasota, FL
Mon Jan 26, 2009
Marta,
Look on realtor.com and search the area you are interested in. All Bank Owned properties are listed through assigned Brokers.
Hope this helps,
Brooke
Web Reference:  http://www.MyClubRealty.com
0 votes
Louise Warri…, , Lake Mary, FL
Mon Jan 26, 2009
Hi Marta -- In order for someone to make an offer on a foreclosed home (or a pre-foreclosure/short sale) the home must be listed with a real estate company. Banks want to know that they are dealing with a professional who will guide the contract through to a successful closing. Realty Trac publishes all homes that have any type of lien recorded in public records (whether it's one that will result in a foreclosure or not) and then ask you to pay for the pleasure of looking at this list.

My best suggestion would be for you to engage a competent Realtor to help you locate properties that meet your critera, whether they're foreclosures or not. A common misconception is that a foreclosure is going to be a really great deal, resulting in home ownership for pennies on the dollar. In the vast majority of cases, the pennies on the dollar purchase price is for a home that needs thousands of dollars in repairs and upgrades to make it worth true market value--i.e., the value of the home was only worth the "pennies on the dollar" sales price. Banks/lenders are selling foreclosed homes for "market value"--they go to a lot of work (appraisals, BPO's) to determine the market value and then try to sell it near this appraised price--most of the time resulting in a closing months and months after you made your offer.

Having said that, if you're still interested in finding only homes that are in the foreclosure process, you can go to http://www.FloridaMoves.com/Louise.Warring and click on the "Bank Owned/Foreclosure link. All homes that are listed will appear for your information.

Happy House Hunting!! Call me if you have other questions or would like me to recommend a good agent in your area.

Louise Warring
Coldwell Banker Residential
0 votes
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