where do I start on buying a forclosed house?

Asked by Don Reese, 44647 Sun Jun 10, 2012

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Duane Johnst…, Agent, Uniontown, OH
Sun Jun 10, 2012
Hi Don,

The first thing to do is get pre-qualified with a lender so that you know just how much you can offer on a home.
Next, figure out what area you want to live in.
And then call me, I'll be happy to help you with any of the the items.
Duane Johnston,
Howard Hanna Real Estate,
0 votes
Thank you so much :)
Flag Sun Jun 10, 2012
Terrence Gay, Both Buyer And Seller, El Paso, TX
Tue Jun 12, 2012
Look for a REO wholesaler in your area. A place to find them is by locating a REO (real estate owned by banks) listing realtor in your county. Houses in a bank's inventory are offered through these REO listing agents and most federal and state laws allow one broker/agent per realty to offer these properties, but REO wholesalers usually sell them in 1 to 3 days. Typically REO listing agents notify REO wholesalers who put in offers and are the first buyers in just about every market in the country. A REO listing agent can tell you about some of the REO wholesalers he or she deals with. Most REO wholesalers don't do "one off" sales unless you are a cash buyer. If you are they will be glad to sell to you. If you are seeking conventional financing, then probably not. - Good luck.
0 votes
Matie, , Boston, NY
Mon Jun 11, 2012
Start here http://www.indexpost.com/ One of the biggest foreclosure data base. Free foreclosure listings and free home search.
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Sun Jun 10, 2012
Has it been listed for sale by the bank that foreclosed and now owns it? If the answer is no, then there is nothing you can do but wait for it to be listed for sale by a Realtor. This can sometimes take months as they do investigations of value, have the house cleaned and fixed up (in some cases) and get paperwork in order. If the house has been listed for sale as a bank owned home, then speak to a lender and get pre-approved and find a Realtor to work with to make an offer.
0 votes
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