what is a transfer value and how do i know what the price is i need to pay on a property?

Asked by Esther King, Pryor Creek, OK Mon Jan 30, 2012

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7
Antonio Vega…, Agent, Saint Cloud, FL
Tue Jan 31, 2012
Look at the posting for that home again and find the logo for Realty Trac (blue and red). Anytime you see that on any listing it means the price you see is NOT a sale price, and the home is not for sale. That is just a posting of what the Bank/Lender had to pay the courts to regaing custody of the home when they foreclosed on it. Now that Lender will take several months to put the property on the market at Market Value for the community and it will be advertised as a Foreclosure or an REO.

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Tony Vega
Charles Rutenberg Realty
21 votes
Yes, thank you.
Flag Sat Oct 1, 2016
Tried to give this a thumbs up, but not sure if it worked so..... I'm posting a quick note to say THANKS! Your answer was really helpful.
Flag Sat Apr 6, 2013
Alan Martin, Agent, Orlando, FL
Mon Jan 30, 2012
If there was any negative part of Trulia then it is these Realty Trac postings. They just get folks all excited when the home is not even for sale yet and may not be for as long as a year !!. If you are interested at all in buying a foreclosure like this one then Trulia is not the best place to be looking. Realty Trac just wants you to sign up with them and pay for foreclosure information which I can let you have for free!! Please e mail me with a note of what you are looking for and I will be happy to send you all the listings , that are available for sale, that meet your requirements.

e mail me at Alan@FrontlineFloridaRealty.com or text your e mail address to 407 832 4888 and I will spring into action !! :)
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6 votes
Could you help me or guide me in the right direction. Looking to get into the rental business looking to start with foreclosure 423-260-0854 Or email at americleanbiz @yahoo.com
Flag Sat Nov 26, 2016
Hi, My name is Jose Zumba. I'm from new York and I'm trying to buy my 1st house, I had pre approval for $160000 But I'm looking for hud foreclosed homes, and some times is confused for me the meanings of Transfer value,
original amount, and sales taxes..so its drive me nuts. could you help me please.
Flag Sun May 17, 2015
John Bennett, Agent, Orlando, FL
Mon Jan 30, 2012
Transfer value has no use to you. All you need to know is the value of the property, NOTHING else matters, not listing price, not balance on loan, only thing you need to know is current value of the home.

To get to this, what you need is a Realtor that know Kissimmee. I know several I have worked with in past, give me a call and I will direct you to one that fits your needs.

Having a Realtor help you buy a home will cost you NOTHING, they get paid by listing agent, and they can save you MONEY, TIME and heart ache.

JOhn
352-978-4539
1 vote
So, what if the seller does not use an agent, and the buyer and seller split the commission? Of course you pay the commission, regardless of how it is disguised. That is like people who think the they only pay half the FICA tax. Remember, what people have to pay other people cannot be part of your negotiation.
Flag Fri Jul 25, 2014
Bradburyw24, Home Buyer, Kissimmee, FL
Tue Jun 30, 2015
if rent to own is offered for say 64,000 how much is the rent and how much is towards purchase
0 votes
It is dictated in the contract. in the monthly payment of a rent to own or lease w/ option to buy there are a couple of things wrapped into your monthly payment.
1. you are renting the house 1st and foremost. (RENT)
2. you are simultaneously paying for a down payment to be exercised with the purchased usually a couple hundred per month added to RENT and escrowed for your purchase
3. Taxes and Insurance are typically paid within the rent amount
Flag Sun Dec 20, 2015
guitarman_ra…, , Santa Barbara, CA
Fri Mar 20, 2015
So the transfer value on a preforeclosure property is not what a person would be paying to aquire possesion the the property?
0 votes
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Mon Jan 30, 2012
Please read the notes to Realty Trac's property postings. It's a definition that they made up. It has nothing to do with the price of the property (or much else as far as I can see). Please note that the majority of properties on this web site that are in the forclosure section are NOT on the market. Read their notes and decide if the information has any value to you. It has none to me.
0 votes
Ron Thomas, Agent, Fresno, CA
Mon Jan 30, 2012
We does not use Transfer Value out on the left coast.
but;
Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.

Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called “chasing the curve”) and Buyers will be asking the question; “What’s wrong with that house?” and “Why has it been on the Market so long?”

Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; “Aren’t you obligated to sell at this price if someone offers it?” The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)

Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.

Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. It is the surest way to determine the Market Value of the property.
0 votes
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