bayonnenj1, Home Buyer in Bayonne, NJ

Where can a first time home buyer find info on REO's ?

Asked by bayonnenj1, Bayonne, NJ Tue Oct 16, 2012

I am a first time home buyer and looking to purchase house after my lease expires. I want to buy a house at a discount.

I looked at RealtyTrac but there's a fee. Has anyone else used this service? & is it a good site to look for foreclosures, NOD's & REO's

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bayonnenj1, Home Buyer, Bayonne, NJ
Tue Oct 16, 2012
Thanks everyone.

I just wanted to make sure the website was authentic.

At the moment we are not sure where to move. We are looking at different areas of northern jersey.

Mainly a place where everybody is not on top of each other. Good schools, good commuting distance to NYC and affordable prices.

We have about 6 months until our lease expires and thought we start looking a little early.
0 votes
Amos Elroy, Agent, Bayonne, NJ
Tue Oct 16, 2012
Hey Bayonne,

I concur with Annette.

Also, if you are interested in REOs you may also want to look into HUD properties. My office is one of the few local agencies that are certified to deal with those.

Let me know and I would be happy to guide you.


Amos Elroy
CDPE (Certified Distressed Property Expert),
SFR (Short-Sale Specialist Certified)
NAEA Member (National Association of Expert Advisers)

Residential Real Estate Investment Consultant
Lic. Realtor Associate
EXIT On The Hudson Realty
(888) 462-6573 / (888) HOB-NJRE
FAX (888) 462-6573
Office 201-437-0411

Twitter & Facebook: HobNJRE
0 votes
Andrew Tisel…, Agent, clifton, NJ
Tue Oct 16, 2012

There are some homes for sale that are a better deal than a Short Sale

IN either case contact me and I can show you all the REO short sales and regular sales available
0 votes
Annette Law…, Agent, Palm Harbor, FL
Tue Oct 16, 2012
The Realty Trac fee is not that high. if your finances are that tight you may be buying too early.
Besides, you would find the service to be woefully inadequate and not at all satisfying in regards to the clarity of the property status'.

Your best bet is to contact a local real estate professional in the area you wish to purchase.
They can actaully connect you to the homes that are ACTUALLY for sale. They even have tools to dig through the distressed statuses to give you early notice opportunities. Many of these homes will require an offer be submitted through a real estate professional. And, if you don't know the process and practices of each of the banks involved, you will end up on Truila asking, "Why was my full price offer kicked to the curb?"

Of course real estate professionals do this as a business, not a hobby, and expect compensation. But you know that already, didn't you?
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