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How Much To Offer On Foreclosed Home All Locations : Nationwide Real Estate Advice

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Showing results for How Much To Offer On Foreclosed Home [Clear search]
Wed Jan 9, 2013
Michael Cheng answered:
Has the seller accepted your offer? If they didn't, then there's not point in waiting. If they did, then you'll have to find out from the listing agent how many liens are on the property. If there are multiple liens from multiple lenders, then we could be looking at a year before we get a final approval from the first lienholder. Your Realtor can help you find this out as well. ... more
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Wed Jan 9, 2013
Carla and Jo Hunter answered:
Because of the real estate climate in the last few years there are many agents who would be able to assist you. I personally have designations and experience with foreclosure and short sale properties. Please let me know if you'd like some information about the processes and I will be happy to assist you. You can reach me at , ... more
0 votes 6 answers Share Flag
Mon Feb 27, 2017
Caroline Harabedian answered:
Well, it really matters what part of LA you are looking at. In the valley, in Granada Hills (what I like to call the Beverly Hills of the Valley), you can find a nice 5 bedroom house, large with a pool for around $500k. Average price of homes in the valley are well below $400k total. Most of these homes are built in the 80s and 90s, but some of the higher end homes are built after the 94 earthquake so you have more modern choices. Most people buying above $700k are putting large amounts in down payment, that's why they can afford home loans.

If you want to speak with a qualified loan officer about your loan needs, I can recommend Bridgette at WestCom Lending (818) 335-0283 /

All in all, location is key in finding a home that is for you. Maybe try searching a slight further commute to work to have the luxury home you want. Any questions, feel free to contact me.

Caroline Harabedian
RE-Search Concept
8700 Reseda Blvd., Suite 213-B
Northridge, California 91324
(818) 967-9626 mobile
(818) 979-0226 fax
... more
0 votes 66 answers Share Flag
Mon Jan 7, 2013
Albi answered:
Generally, you should list the lots independently, but in the remarks section of the listing mention the possibility of purchasing both. The city would have to approve of combining the lots if the buyer was planning on putting the new structure across property or setback lines. Additionally, there may be covenants or restrictions in the neighborhood that may prevent this as well. I represent a custom luxury home builder in the Metro and may have clients interested in a project like this depending upon where the lots are located and pricing. Give me a call if you'd like to discuss this in depth. Hope this gives you a good start... ... more
0 votes 13 answers Share Flag
Fri May 17, 2013
Fred Yancy answered:
Builders are not going to typically reduce their base price for anybody. Your Realtor can negotiate possibly getting the builder to throw in some free upgrades or perhaps closing costs, things of that nature. If you cannot afford the base price, you need to rethink the area in which you want to live. Asking a builder to come down $100,000 on a home is beyond unreasonable. ... more
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Wed Feb 13, 2013
Cindy Davis answered:
You certainly don't need to live in California to buy a home in California. If this is what you want to do, contact the VA and start your pre-approval application.

That said, I think that buying a home when you are thousands of miles away is challenging at best. Do you have any relatives or trusted friends that can help see the properties?

Best of luck.
... more
0 votes 16 answers Share Flag
Sat Jan 19, 2013
John Siddons & Mike Laine answered:

Email or call me directly for advice if you don't have a buyer's agent! You don't pay me anything for my services!

You can bid on as many homes as you'd like, you get a 10 day right to back out with most foreclosures, so really, there's not much risk in bidding on multiple REO's.
... more
0 votes 6 answers Share Flag
Wed Jan 9, 2013
Amy Baker answered:
You have some great questions. Im not sure I can do them justice and provide you with all of the answers in this small little box. I work with lots of first time buyers and have sold every kind of foreclosure many many times so Im very familiar with financing options etc.

If you will send me an email, I will be happy to email with you and send you all the answer to these questions and any more you think of.

Amy Baker
Allen Tate Realtors
... more
0 votes 9 answers Share Flag
Sun Jan 6, 2013
Jeffrey Campbell answered:
There's a whole lot to look at beyond the appraisal... but concerning the appraisal itself, how old is it? Home values have dropped in the last few years and while making a rebound in some areas a new appraisal may be in order.

The condition of the home is of particular concern... how much work does it need? How's the roof, heating, electrical... is there any moisture or mold concerns? Appliances?

Working with a good realtor will help you as well as having a quality inspection after your offer has been accepted.
... more
0 votes 7 answers Share Flag
Sat Dec 13, 2014
Thomas Osman answered:
Dear Investor,

There are many opportunities available in the greater Columbia market. I am a Financial Advisor as well as a real estate broker, and I work with numerous investors seeking properties for their specific portfolios. Please give me a call and we can discuss the type of properties that you are looking for. I also own a mobile home park and am familiar with that particular investment. You may reach me at 803-429-9305. ... more
0 votes 10 answers Share Flag
Wed Jan 23, 2013
Shanna Rogers answered:
Hi vrusnak2002,

If the house is a pre-foreclosure but not a short sale then the owners might be willing to sell since they have equity (you state not a short sale). If it's a pre-foreclosure, that means the owner is delinquent and might lose the house to foreclosure if they can't come current. The owners might want to sell because they would get their equity out of the house. If the house is not currently listed for sale, maybe your Realtor would be willing to contact them to see if they want to sell?

Shanna Rogers
SR Realty
... more
0 votes 10 answers Share Flag
Wed Aug 31, 2016
Eileen Shapiro answered:
Most homes close in 30-45 days of contract acceptance.
0 votes 17 answers Share Flag
Sat Dec 29, 2012
Tim Moore answered:
The owners probably know when the foreclosure procedure will start and told the agent. If they start it the process can be stopped, delayed or halted. It can also proceed and if it goes up to the auction your offer is gone and means nothing to them. You probably will not be able to ask the bank to do anything about repairs, either you buy it before it goes to the auction or say goodbye. ... more
0 votes 7 answers Share Flag
Wed Jan 9, 2013
Scott Godzyk answered:
You are experiencing what other buyers are which is a shortage of homes for sale in some areas. First thing is foreclosures are the best deal as they can close sooner than a short sale. A short sale can take longer and the savings are not great. The more work a home needs the better the deal you may get. The key is finfding a short sale listed by a well experienced agent that has already started the process which cuts down on waiting, ... more
0 votes 10 answers Share Flag
Mon May 6, 2013
Kevin Monette answered:
We have some great schools in the Virginia Beach area. Sounds like you could fall in the Frank W. Cox or First Colonial Schools. The hard part would be the pool, as we are so close to the beach, there are not many in-ground pools, but there could be.
Contact me and I will help you find a place. I will email you properties that match your requirements. Thanks for the question.

Kevin Monette
William E. Wood At The Mall
... more
0 votes 10 answers Share Flag
Sun Dec 23, 2012
Brian Ripp answered:
yes you can. There are several options, as low as 3.5%.
If you need a list of loan officers, I can refer you a few.

0 votes 16 answers Share Flag
Fri Feb 15, 2013
Craig Chastain answered:
Do you have a current lease agreement?

Lots to discuss....

Give me a call at your leisure.
0 votes 9 answers Share Flag
Sat Jan 5, 2013
Marie Barakat answered:
My best advice to you would be to start working with a Realtor and Lender that you feel comfortable. Realtors are a free service to buyers and very helpful. They walk you through the entire process, help you understand how everything works, and really make you feel like you have someone on your side. They can show you all the resources you are looking for. Speaking with a lender would be great too. You will figure out exactly what range you are in and know which houses to eliminate from your search, how much you want to put down on a home and learn more about monthly payments you would be making on a home.

If you are just looking for property taxes, you can look on public records for the county you are looking into. For example, if you are looking at a home in Hillsborough, you can look up the public records for that property and see the taxes for the current year.

Please let me know if you have any more questions or would like any help with your search.

Marie Barakat
Coldwell Banker Residential
... more
0 votes 12 answers Share Flag
Thu May 1, 2014
Ursula Householder answered:
If it is a good deal than patience is your best partner! As far as the deed goes, make sure you have good title insurance! Do not proceed if you can't buy it! If you are financing the purchase the lender will make sure there is not title issue or they will not finance the sale, if you pay cash, you might want to hire a Real Estate attorney! ... more
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Thu Jan 10, 2013
Mike Sackman answered:
Absolutely! Foreclosures are sold "as is", if you are paying cash it's not as big a problem than if you are seeking financing. A lender requires that certain items be repaired before they loan the money and the banks (owners) are becoming more and more difficult to have those repairs done to faciltate the closing. Don't be afraid of the process, just understand that there are some major differences and you will need to be very understanding of the process and don't fall in love with a foreclosed home before speaking with a good Realtor about buying it. ... more
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