Property Q&A in Milford>Question Details

Adrienne, Other/Just Looking in Wallingford, CT

Are the prices real on this web site or do they say very low prices then come to find out it's so much more?

Asked by Adrienne, Wallingford, CT Mon Apr 6, 2009

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This company is looking for you to sign on and pay a fee. Homes that are about to go to foreclosure are usually placed with a Realtor first so that they can try to sell it before it goes to foreclosure. The bank negotiates a lessser price than is owed with the Seller. The Realtor than puts it on the maket as a "Short Sale". If it doesn't sell it goes to foreclosure. All foreclosures are public knowledge. Go to the local courthouse to find true foreclosures or look in the newspapers. Auctions are printed with notice to the public. No need to pay a fee to these online companies. If your looking for a "Short Sale home" find a Realtor who works in the area and they can help you through the process. There is no fee for us to work with you.
If your looking in Milford, I would be happy to help.
0 votes Thank Flag Link Mon Apr 6, 2009
Hi Adrienne,

No, that is not a sale or list price.
This particular home is not necessarily for sale.
Rather, the lender has filed a lis pendens on the home, meaning they have begun the foreclosure process on the home, due to late payments on the part of the homeowner.

The dollar amount listed is the dollar amount owed on the loan that is delinquent. There may be additional loans, too.

The amounts owed have nothing to do with market value and what the home may sell for, either by the homeowner or by the bank should they foreclose on the home and then sell it.
0 votes Thank Flag Link Mon Apr 6, 2009
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