Latonia Wats…, Home Buyer in Fort Walton Beach, FL

Do you bid a price for a forclosure home from a bank or make them a offer.?

Asked by Latonia Watson, Fort Walton Beach, FL Wed Jan 30, 2013

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I am not sure if an individual buyer can make an offer on the Homepath Web site. I am pretty sure you need to work with an agent. I have completed three offers for clients recently, I also live in FWB so i am familiar with this area. Give me a call today, we can set up an appointment to tour the property and I can advise you on a good offer.
Myke was correct when she mentioned that working with an agent as a buyer is the way to go.
0 votes Thank Flag Link Thu Jan 31, 2013
the only place that you can put a bid in on a house is homepath. This is a Fannie Mae site--you might go to that site and read the information. Your best bet, however, is to use the services of a realtor--those services cost you the buyer nothing as the seller pays the real estate commission. Especially with foreclosures it is a good idea to have he advice of a realtor who can assist in getting you through the process.

Myke Triebold
0 votes Thank Flag Link Wed Jan 30, 2013
Realty Trac strikes again:
Look at the posting for that home again and find the logo for Realty Trac (black and red). Most times when you see that logo on any listing it means the price you see is NOT a sale price, and the home is probably not for sale as of yet. It is just a posting of what the Bank/Lender had to pay the courts to document regaining custody of the home when they foreclosed on it (transfer value); and/or an announcement that the foreclosure process has just begun (Lis Pendens). Next that Bank/Lender will take several months to put the property on the market at "Market Value for the specific community" and it will be listed/advertised as a Foreclosure or an REO.

On a normal/real foreclosure that is listed on MLS you will make an offer via your agent to the agent that represents the bank. Never make an offer directly to the listing agent, they represent the seller and not your interest. Was this answer helpful? If so please click on the "thumbs up" above.

Tony Vega
La Rosa Realty
0 votes Thank Flag Link Wed Jan 30, 2013
You make an offer to the bank. Depending on condition and current market value.
0 votes Thank Flag Link Wed Jan 30, 2013
You make them an offer based upon market conditions and terms. Usually get an answer back fairly quickly compared to short sales.
0 votes Thank Flag Link Wed Jan 30, 2013
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