Is there damage to this property? What is the process to buy this pre-foreclosed house? How long on market?

Asked by Gloria, Burlington, VT Mon Jan 5, 2009

How much to renovate this home if needed? What are the legalities in terms of buying from the lender? Is it as easy as a bank check with a lawyer's deed search? What do I need to know to buy a pre-foreclosed home? What are the hidden costs? How long has it been on the market? If I pay for trulia, will I be told the lender? the address? photos? legalities?
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Dana Schuster, Agent, Slidell, LA
Mon Jan 5, 2009
This is not a listing,it is a Realty Trac posting. Realty Trac pulls their postings from public notices of default &.foreclosure. This is a Lis Pendens,which means it has not yet foreclosed. The $11,000 is not the sale price it is the amount of the lien or default. Realty Trac is a for profit site & they make their profit by getting people to register & pay for info that is available for free..if & when the house actually reverts to the lender it will most likely be listed with an agent. i suggest you contact a local realtor who can provide you with the latest & most accurate info from the MLS at no cost to you. Realty Trac does not provide details because they don't have them.They probably don't even have the house number because it did not appear in the public notice of default.
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Lee Forbes, Agent, Bradenton, FL
Mon Jan 5, 2009
The home is not listed for sale. This is just a notice of les pendance on the first mortgage. There could be and probibly is a second mortgage or equity line on the home. realtytrac is a paid service for you to use to find foreclosing homes. It is usually up to amonth before the bank gets them on the market for sale and I am sure it will be for more than $12,000. I wish they would have given the house number...

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