We are looking for a four bedroom, 2 bath home and we intrested in foreclosure homes. Any advice where to?

Asked by Amanda, Raymondville, TX Wed Jan 28, 2009

look? We are intrested in the best possible deal and in a nice neighbor hood. Any help?

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lonestar.mgi…, Home Buyer, McAllen, TX
Fri May 1, 2015
I'm a Wholesaler of SFR, I might be able to help you.
My contact e-mail is lonestar.mginvestments@gmail.com
0 votes
Steve Tennis…, Agent, McAllen, TX
Fri Jan 30, 2009
Short sales in our market are few and far between. They are even harder to work and you really need someone experienced in short sales to make that one work here.

Steve Tennison
0 votes
sandra Jeffe…, Agent, clare, MI
Fri Jan 30, 2009
The first thing youour need to do is get with your lender aour and obtain a letter of qualification subject only to an appraisal. The second thing you need to do is contact a Realtor in your area and get to work finding you a home. Do not discount homes that are already on the market and subject to a "short sale" These do work out to be win wins a lot of time but you do need to be patient.
0 votes
Steve Tennis…, Agent, McAllen, TX
Fri Jan 30, 2009
Amanda,

My advice for you is to find a REALTOR that you feel comfortable with and that will work with you. Buying a foreclosure is not the easiest thing in the world and some agents don't want to deal with the hassle of it.

I will agree with Margaret that you need to get your financing in order. That one less thing to do later and will make it go quicker. I do know of some local people that do have money to lend and are willing to help if you need a referral.

If I can be of more assistance, call me or email me.

Edinburg is my home market!

Steve Tennison
624.2297
steve.tennison@att.net
0 votes
Margaret T.…, Agent, Conroe, TX
Thu Jan 29, 2009
Amanda,
One thing I did not mention, please get your financing in order before looking. You will need a pre approval letter for any foreclosure.
Margaret
0 votes
Voices Member, , Benton County, OR
Thu Jan 29, 2009
Amanda, If you want the best deal, you'll have to prepare yourself to know your market, what you can afford and what programs you may be able to use....Check the programs here...http://www.govloans.gov/govloans_en.portal?_nfpb=true&_p…

Mortgage info, calculators, much more info...http://www.ofheo.gov/PublicInformation.aspx?Nav=136

http://www.bhgrealestate.com/Views/Look/Default.aspx ......based on public records, housing trends/info, crime, schools ect..can break down to nieghborhoods ect.

https://www.bidselect.com/servlet/RouterServlet?p_build_page…
Hud homes/Texas

http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp
Bank REO sites
There are many sources of information and you are making a large financial decision. If you want the best possible deal then learn what you can and go find it.......
Good hunting, Dunes
0 votes
Margaret T.…, Agent, Conroe, TX
Thu Jan 29, 2009
Amanda,
Choose the area of town you are interested in, then start shopping for a Realtor. You want a buyers agent that is familiar with foreclosures. I would find an office that as a lot of foreclosure properties listed, then find an agent in that office other than the listing agent.
One you need an agent that represents you and two the listing agent if good is really too busy one his/her REO's to show.
That agent will have a good handle on what to offer on foreclosure properties. You will also want the agent to be a HUD certified agent -just in case, you never know where you will end up.
Happy Hunting
0 votes
Christoph Mo…, Agent, McAllen, TX
Thu Jan 29, 2009
Good morning!

Sure, I can send you a list of bank owned properties. Not always the best deal, however. What price range are you interested in?
0 votes
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