Property Q&A in Tampa>Question Details

Marsy Matute, Home Buyer in Tampa, FL

I would like more info about this property

Asked by Marsy Matute, Tampa, FL Wed Jan 30, 2013

This question was asked from this property:…

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It's scheduled to be foreclosed at the courthouse on May 23rd. The final judgment amount is almost $177,000. Depending on the type of mortgage, the attorney for the lender may allow it to sell for less than the final judgment to an ALL CASH investor at the courthouse. That buyer will not get a clear title free of liens, cannot inspect and may have to hire an attorney to evict the owner or tenants who may be residing at the property. Also if the borrowers file for Bankruptcy it could delay things. I think there may also be an IRS lien and that will survive the foreclosure auction but eventually evaporate.

Just looked again and it's an FHA mortgage so this one may end up as a HUD owned foreclosed property. You can search here

I'm an experienced and approved HUD Realtor so if you decide to pursue this property, let me know and I can set you up with an automatic notice so you don't miss it. With HUD owned homes you can actually buy with only $100 down with an FHA mortgage versus 3.5% down. You also have to pay HUD's closing costs and the maximum allowable closing costs for a buyer is 3% so it really ends up being about 2% down. The beauty of FHA is you will get an inspection report "upfront" so you know what you're bidding on and what defects are known.

Send me your email or if you're already working with a Realtor, just make sure her/his broker is approved to do HUD contracts. Also it's crucial that your Realtor attend training because on HUD properties it's a bit tricky.

Hope this helps.

All the best,
Alma Rose Kee, PA
Future Home Realty
0 votes Thank Flag Link Thu Jan 31, 2013
Anytime youe see a home such as this and all it gives you is the street name, it has not been listed on the market yet. See below:

Notice of Sale. This property is scheduled for a public foreclosure auction. A public foreclosure auction is scheduled when a homeowner in default does not stop foreclosure proceedings within a certain timeframe determined by state statute.
0 votes Thank Flag Link Wed Jan 30, 2013

this home is not on the market. It was just scheduled for a foreclosure auction. If it does not sell at the auction, the bank will take it over and at some time within the next 6 months or so, the Bank will put the home on the market for its' appraised market value, which is what current similar homes in the area are selling for. Let us know if we can get you active listings that are currently available for sale.

Bill Szydlowski
0 votes Thank Flag Link Wed Jan 30, 2013
What is your email addresss
0 votes Thank Flag Link Wed Jan 30, 2013
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