Yes there's a lot of competition against investors out there right now. You want your offer to be strong to beat them out - so the fewer things you ask for in the contract, the better.
That said, it depends on the lender, but often times in a short sale scenario - the lender may only pay up to 3% in closing costs, if at all. So if you really feel you need them - bump up your offer by 3% too.
Liane Jamason, REALTOR
Smith & Associates Real Estate
813-486-4997 cell... more
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
Trulia lists homes that are in the process of foreclosure. These are not homes necessarily listed for sale. It can get confusing when some sites and agents refer to foreclosed bank-owned properties as foreclosure properties. Usually, these lists of homes in foreclosure are useful for certain investors who try to make offers directly to homeowners without a current listing.... more
Look at the posting for that home again and find the logo for Realty Trac (black and red). Most Times when you see that on any listing it means the price you see is NOT a sale price, and the home is probably not for sale as of yet. It is just a posting of what the Bank/Lender had to pay the courts to regaing custody of the home when they foreclosed on it. Next that Lender will take several months to put the property on the market at "Market Value for the specific community" and it will be advertised as a Foreclosure or an REO.
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To answer your easiest question first...yes there are agents who specialize in foreclosures.
Now for the rest....
Foreclosures can be a good deal but remember the banks are not giving their properties away. Also they are being sold "as-is" which means you are buying whatever mess may or may not be behind the walls. So you can get a home inspection but they will not fix anything. So it all depends on how much work you may or may not want. Not all foreclosures are like that but they are a different animal then a typical listing.
Long and Foster Real Estate Inc.... more
Yes, several in the surrounding area also...
visit my web and check out the new community section. I can also email you listings... I'm a NJ transplant, neighbor is from Brooklyn. Let me know how I can help!