It's a short sale so the seller is going to get nothing. Depending on your state there may be a way the bank can look to the seller for any deficiency and come after them for it when / if the property sells short. They may be leaving to hide from creditors, happens a lot.... more
Buying a foreclosure in the price range of properties on Hawthorne Ridge Ct from a County foreclosure auction is dicey. If you go bid on the property at the Courthouse, you need to put down a large sum and then within 30 days you need the balance and settle. The homes on this street are in the $650k plus price range.
This is not a home to cut your teeth on in the foreclosure auction arena. Plus, depending on what is owed on it, the lender will most likely buy it back and then list as a REO, real estate owned.
A good realtor has access to databases that can tell you who purchased the property and if the lender aquired it. Wait just a minute and I will check the database for I am a Realtor...... No, there is no listing in Vienna for Hawthorne Ridge for auction due to foreclosure.
Please give me a call so we can discuss where you saw the auction announcement. There is a website www.auction.com that handles auction sales as well.
Love to speak with you.
Keller Williams Realty
8521 Leesburg Pike
Vienna, VA 22182
If looking at a RealtyTrac ad--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--or some other kind of fee; some of those properties may not be for sale yet, and some may never be, if the default is satisfied by the owner---you can also check for additional information, MLS status, etc., by contacting any local realty office(s).... more
Yes, you are reading in too much. Single family means the house is not attached to another house as a townhouse might be.
When a house is advertised income or investment it means that the owner might want to purchase it to live in themselves or rent out. Normally you will see income or investment for a property in an area where there are already many rentals or where the house is a rental at this time. In either case when you buy it it's yours and you can move in or rent it.... more
Buy the Washington Post newspaper at the store and go to the classified ad section. Look at the Trustee Sales that are coming up at the courthouse. There should also be a property address. Drive by, look in the windows. Now, if it is a home you like, bring your certified check with you and buy it on the Fairfax Courthouse front steps. Sorry, it gonna be sight unseen. It's a leap of faith but that's the way. Good luck!
-Doug Francis, ABR... more
Having also looked in the real estate market in Vienna -- yes, I've already seen a reasonable price drop. Some sellers were faster to realize this than others though, so you have to approach each property with a cautious eye. How "aware" is the seller that it's currently a buyer's market?
That said, you need to be careful -- if you're going to become picky about the layout and look of a house, you would do better to set a budget range of what you're willing to spend upfront. Because you'll find it extremely difficult to negotiate for the features you want *and* a low price you want. Often the features you want are features others want too, and thus that increases the price. If you want just a low price, be prepared that the homes may not have all the features you desired.