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Foreclosure in Greensboro : Real Estate Advice

  • All441
  • Local Info61
  • Home Buying138
  • Home Selling16
  • Market Conditions20

Activity 17
Tue Sep 15, 2015
Scott Godzyk answered:
There are no properties listed to check? If you saw an ad, click on teh contact info as they may not see your post here in q and a
0 votes 1 answer Share Flag
Thu Mar 13, 2014
Steve Burgess answered:
Well i congratulate for your new home, but would recommend you to wait & watch the market condition. Basis on which you can take a decision, but at the meantime you can rent out townhome, through this procedure you can also earn every month some substantial amount. ... more
0 votes 12 answers Share Flag
Wed Oct 16, 2013
Sandi Burr answered:
Please send me an e-mail : sandiburr@remax.net with your contact information and someone in my team will be happy to help you! We look forward to hearing from you! Sandi :)
0 votes 4 answers Share Flag
Wed Oct 16, 2013
Kimberly Burgess answered:
Kim Burgess my phone number is 336 314-8828..I can help you
0 votes 1 answer Share Flag
Sun Aug 25, 2013
Kerri Ledbetter answered:
What is the property address?
0 votes 1 answer Share Flag
Sun Jul 7, 2013
Ron Thomas answered:
Lease/Option is the ultimate caviat emptor for someone who wants to buy:
You will pay dearly,
and that assumes that you will be able to fulfill the option when it comes due,
in which case, you will lose your deposit.
You will pay higher than normal price for the house,
You will probably be stuck with any repairs and maintenance
and it will not show up on your credit report, to help improve that.
... more
0 votes 2 answers Share Flag
Wed Dec 12, 2012
Kerri Ledbetter answered:
Call the Trustee number on the paperwork and tell them who you are. If you are indeed a valid lease holder, you wil need to provide your lease to them for review.

"The federal Protecting Tenants at Foreclosure Act (PTFA), signed in 2009, offers tenants the two most substantial rights related to foreclosures. First, it requires lenders to abide by existing leases; and, second, it requires lenders to give tenants 90 days' notice before initiating court action to evict them."

As for your landlord, he/she may not have known, unless they are the owner of the home. Also, just because there is a sale date, does not mean the property will be sold and if it is sold this does not mean that you have to move out immediately. (see above)

I am sure you are trying to enjoy your Holidays and now this. This should not be a worry, but a concern and not an immediate concern

If you need further assistance, you are more than welcome to contact me at 336-373-1881.
My company manages over 100 homes and this has happended to us three times this year.
... more
0 votes 4 answers Share Flag
Tue Apr 10, 2012
Suzanne's Search answered:
Tue Apr 10, 2012
Chris Pappalardo Team answered:
Suzanne,
There is a simple way to give you access to our MLS so you can search for these yourself and get notified when one comes on the market. It is pretty cool
email me at cpapp@kw.com or give me a shout at 336-525-1289
I will be more than happy to help.

Regards,
Chris Pappalardo
... more
0 votes 3 answers Share Flag
Sat Jan 22, 2011
Jean Kovach answered:
Happylucky!
Getting a market analysis of what homes are selling for in our area of Greensboro is a necessary first step - whether you are buying or selling. A market analysis is done to reveal what other homes have sold for recently. When selling, pricing your current home correctly is critical especially if you want to take advantage of purchasing another home during these times. As a buyer, you need to position yourself as the best buyer for the home you are considering. With so many short sales, foreclosures, resales and even the few, new construction homes, everyone is competing for that one qualified buyer.
Contact me if you would like to know the value of your current home and the value of the home you're thinking of buying. I can provide the market information, help you review it, answer all your questions and work with you from pre-listing your current home to closing on your new home. I'm in the neighborhood! Give me a call!
Jean Kovach, Realtor/Broker
336-685-1210
eXp Realty LLC
3150 No. Elm St
Greensboro, NC
... more
0 votes 9 answers Share Flag
Sat Nov 27, 2010
Larry Story answered:
Queenjoy,

There are presently three foreclosed townhomes that are 3 bedrooms with a garage. Now of course they are three very different price ranges so not sure what you are looking for.

Now there area also some short sale opportunities also. I have already emailed you the results of the search. If you do not already have a buyer's agent and need some help or would like to have another broker to interview feel free to contact me through my profile here on Trulia or through one of my other websites listed below.

Hope this helps,
... more
0 votes 3 answers Share Flag
Thu Nov 11, 2010
Deals answered:
Thank you for all the insight- I wish I had used this system sooner. If things fall through, I will be back in touch with one of the experts.

The upset period is over and yes the bank i guess out bid me. The bank over bid where i wanted to go. The owner is still the builder as of right now. They even still have it listed.

Does anyone know what a fair price per square foot is these days for a home about to be foreclosed on?
... more
0 votes 10 answers Share Flag
Thu Oct 7, 2010
Crystal answered:
The previous answers are correct. My suggestion to you now would be to refer to your agent for the next step and details of the remaining process (and after closing). Communication in such a transaction is a must because it is a major decision and there are legal aspects noted in your agency agreement and documents you sign moving forward. ... more
0 votes 5 answers Share Flag
Thu Jul 29, 2010
Crystal answered:
Unsure of any specific formal process, however the agent must submit all offers and go through negotiations per offer submitted. As J stated, in good practice you can use a Multiple Offers doc and request Highest and Best offers by specific date and time. ... more
0 votes 5 answers Share Flag
Fri Aug 21, 2009
Jennie M. McNamara answered:
Well, first of all, if you only put in an offer and do not have an agreed upon or signed contract, your earnest money should not have been deposited, but your agent should have advised you if you were under contract. The bank is not emotionally attached to the home, so they typically accept or reject. If they reject, you can make another offer. You should ask your agent if there are any other offers on the table. In this market you never know what a bank will accept in an offer and I am of the belief it never hurts to try, all they can say is "no" , right? However, if there are other offers coming in, you need to ask yourself how much you want this home, then decide whether to increase your offer or not. Good communication is KEY to the enitre home buying process, foreclosure or not.

I would definitely ask about your earnest money though, if you are not under contract, your EM should not have been deposited. Try to be patient, if you want a foreclosure or bank owned home, they do not move as fast as the "normal" process...it can sometimes take 90-120 days to get your home to closing.

Respectfully,
... more
0 votes 2 answers Share Flag
Fri Apr 24, 2009
Heather Brooks answered:
The possibility of the bank doing a short sale as opposed to allowing the property to go into foreclosure are great! The last thing the bank wants to do is take a hit like that on their deposits. The only twist to this is that the banks are very busy and lots of properties are getting overlooked. They seem to fall through the cracks. Whoever the listing agent is on the property (if there is one), needs to fax, email and mail in a complete packet to the short sale department right away. They also need to do a comparable market analysis to speed up the process. They should include as many comps as available from the past 6 months. If you need further assistance, please feel free to contact me anytime. ... more
0 votes 5 answers Share Flag
Thu Jan 24, 2008
Larry Story answered:
There are plenty of homes in the area fitting your needs. As far as resale and value I would look to see how long you intend on staying in the home. There are some areas where homes move quickly and hold their value well. On the other hand there are some areas where if want to put in a little work you can find a good deal in a transitional area. For your price range you should have no problem though depending on what else you need in a home. ... more
0 votes 3 answers Share Flag
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