Home Buying in Little Ferry>Question Details

juuleejewels, Home Buyer in Little Ferry, NJ

if a home is listed on here as a pre-foreclosure...can you bid on it?

Asked by juuleejewels, Little Ferry, NJ Sun Apr 15, 2012

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If the property on Trulia was "listed" on the site by Realty Trak, then probably not. Realty Trak takes homes that are in pre-forecosure from public records and posts them on Trulia.

Being in pre-foreclosure does not mean the house is listed, is for sale, is going to be sold, or even that it WILL be foreclosed upon. Owners of homes in pre-foreclosure still have option to delay or cancel the foreclosure process.

If you post the link to the property you are speaking about, I can give you a better answer, but my guess is that this house isn't even on the market.
0 votes Thank Flag Link Mon Apr 16, 2012
Yes! I have helped many homebuyers purchase distressed property. Not all properties that are pre-foreclosures are available for sale. Many times, the owner is able to get the mortgage up to date. Sometimes, the process of purchasing one of these homes can be extremely time consuming. The best way to find out about purchasing a pre-foreclosure is to work with a real estate agent who is experienced at working with these types of properties. You also need a great deal of patience. Please feel free to call me to discuss. Robert (973) 901-1900/cell.
0 votes Thank Flag Link Sun Apr 15, 2012
Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously. If the property is listed on the open market/broker you can make an offer; consider working with an agent of your own, he/she will best guide you...if looking at a RealtyTrac ad, keep in mind that some of those properties may not be for sale yet, and some may never be if the default is satisfied by the owner.
0 votes Thank Flag Link Sun Apr 15, 2012
Well it is for sale and you can put in an offer! Pre-foreclosure is usually a short sale listing and you put in an offer and wait or the banks approval. It is not a sheriff sale as in a foreclosure proceeding. Feel free to contact me if you have a particular property in mind and I can check out the history on the property and make sure it is still on the market! mia@villonrealty.com
0 votes Thank Flag Link Sun Apr 15, 2012
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