A lot of the time they are not flexible with the amount. I would expect a minimum of $1000. See what they offer and then make a realistic counter (less than 2x) that includes being out within 2 weeks.... more
Hi Evelyn, there may also be a difference between if it is an auction from the City which would be a tax one or if it is directly from the lender which would be a foreclosure by sale. You may also have a redemption period to try to get the property back or can file for bankruptcy protection or a short sale to help your credit in the future. Please feel free to contact me to discuss further, Julie Lucia, Realtor, Showcase Realty, 203-578-5631; email@example.com... more
When you see the $1.00 transfer of a home to the bank, it means that the bank took the home back from the previous owner through a strict foreclosure. The court simply awards the bank ownership/title to the home.
To record the document, a nominal fee (the $1.00 you see) must be applied to the transfer.
These are homes that are now bank owned. Eventually - it could be as quickly as a couple of weeks, but could also take much longer - the home will be listed for sale by a real estate agent on behalf of the new owner (the bank).
There are many phases of a foreclosure. Sometimes, they have not designated a listing price yet. Some of the homes are not even for sale at this time. Websites pull info from other websites and information is often invalid or old. If you find something that looks good, check with a local agent in your area who can get the details for you or watch for the home to hit the market and then notify you. DO NOT pay one of the "foreclosure listing" sites for their info. Your local agent is always your best bet. Good luck!... more
Tax sales do happen but are very rare, and by time the city takes them they have been vacant for quite some time. Ultimately resulting in need of a lot of work; vandalism, freeze damage, and theft.They are sold at auctions and require large deposits are need and full payment shortly after. As of this morning there were 98 homes in Waterbury â€œif thatâ€™s wear your lookingâ€ for less than 100K. There is good deals out there if you have someone that knows how to look for them. In addition if you have good credit and some money you can buy these with a mortgage that actually gives you money to fix the place up. Some homes can even be bought for half price through special financing with HUD and city jobs. The first step is getting in touch with an agent that knows about what you ultimately have in mind for personal and financial goals. I hope this helps, any questions firstname.lastname@example.org... more