Go get that home!
Your best bet is to work with a Realtor. We are usually the first to know when foreclosures or properties in general come on the market. You have had good questions but you should contact a Realtor to help with you with your needs.
You will have to check the MLS two to three times a day. Then you must not hesitate to contact an agent and make an offer. In most cases with properties under $250k you will have to offer at least asking price. If you are not buying cash have all your paper work in order:
PRE-APPROVAL not a pre-qualification letter.
Last 3 months of bank statements showing that you have enough for the down payment and closing cost.
I hope this helps.
Century 21 Team Feltrim
Many banks also prefer cash investor offers on REO for the same reasons above. I list REO and the vast majority sell for cash, even when there are larger financed offers.
If I were working with you, I would advise you to look for REO, with investor restrictions, also sometimes known as "First Look" periods. Some instituions have a 15 day or longer period where they only consider regular owner occupant buyers, using finance to purchase. This includes Fannie Mae, Freddie Mac, HUD, and Wells Fargo. There are also some owned by local governments in NSP programs that never accept investor offers. But these are few and far between.
Let me know if I can help you.
DON SHIPPEY, REO, CDPE, SFR
BROKER Associate / REALTOR
Certified Distressed Property Expert
Short Sale Foreclosure Resource
Certified Military Housing Specialist
Certified Professional Property Manager
RE/MAX Properties SW
6985 Wallace Rd
Orlando FL 32819