Mb, Home Buyer in Massapequa, NY

What is the procedure in wanting to purchase a home in pre-forclosure? VERY INTERESTED...

Asked by Mb, Massapequa, NY Mon Jan 28, 2013

This question was asked from this property: http://www.trulia.com/foreclosure/3098490004--Redwood-Ln-Mas…

Help the community by answering this question:


Hello. This property is not currently for sale. Additionally, this property may never even become available because the homeowner may become current, or make other arrangements with their lender. If you are looking for a great investment opportunity now, please feel free to check available homes for sale at http://www.cbmoves.com/devonte.williamson

I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.

Wishing you all the best,

De Vonte Williamson , LSA
Proudly Serving Long Island
Coldwell Banker Residential
0 votes Thank Flag Link Tue Jan 29, 2013
Once a home is in pre foreclosure, the only way you can buy it is if the seller puts it
for sale before the final foreclosure. If there is a surplus, that is ideal. If there is a shortfall
on the mortgage then the bank has to agree to sell it short.

Those are the questions that need to be answered.

The housing climate we are presently experiencing in Nassau County is
that when a home is in pre foreclosure, usually the homeowner has abandoned the property and
have relocated their family and start a new job and life in another state.

Good Luck.
Also, it is not easy to buy a home from a bank until the bank fully owns it and
the foreclosure has gone through the court system. This could take months if not years.
Camille Dandola
Part of a Short Sale Team
Century 21 American Homes, Levittown, New York
0 votes Thank Flag Link Mon Jan 28, 2013
Hi Mb, this property isn't currently for sale. A lis pendens means court papers have been filed against the property, usually due to missed mortgage payments, but not always. If you e-mail me what search criteria you are using (price range, areas, bedrooms, bathrooms, etc.) I will be happy to send you a list of homes that are for sale.
Thank you
Tom Brady SFR, e-Pro, SRES, GREEN
Licensed Real Estate Salesperson
Notary Public, Ret. NYPD Lt.
"We treat you like family!"
Charles Rutenberg Realty, Inc.
255 Executive Plaza - Suite 104
Plainview, New York 11803
0 votes Thank Flag Link Mon Jan 28, 2013
The referenced property is not appearing on MLS as available; for available area properties check http://www.mlsli.com Keep in mind that RealtyTrac's information may not always be accurate and oftentimes can be misleading--you could be looking at a lis pendens property--notice of default--some of those properties may not be for sale yet, and some may never be, if the default is satisfied by the owner. If you are interested in foreclosures, work with an agent, as most do end up being listed by a broker--he/she will have access to reliable information--also don't overlook traditional sales as some may turn out to be a much better buy. Purchasing is a short sale is no different than buying another property--be aware that a short sale occurs when an owner has proven hardship to the lender and can sell for less than owed on his/her mortgage; the owner can accept whatever offer he/she wishes, but the lender decides to accept, reject or counter offer; short sales are by no means fast sales, much will depend on the number of liens involved, who is negotiating the sale for the owner, etc., therefore much patience is oftentimes necessary...
0 votes Thank Flag Link Mon Jan 28, 2013
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