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Foreclosure in 45433 : Real Estate Advice

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Activity 12
Wed Apr 10, 2013
The Tyler Morton Group answered:
It depends on the county. If you are purchasing a bank owned property and the deed hasn't been recorded yet, it could be 60 days. However, if you call and explain that you need it faster (and have a legitimate reason and do some sweet talking :), they'll usually bump it near the top of the stack, but keep on them! ... more
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Wed Apr 10, 2013
Bob Voge answered:
Most banks won't/can't accept offers util the property has been listed.

Bob Voge
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Tue Jul 31, 2012
Teresa Luther answered:
The 203k is a type of FHA mortgage where funds are included in the loan for rehabbing the property. If you cannot qualify for a FHA mortgage; you cannot qualify for the 203k.
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Mon Aug 6, 2012
Teresa Luther answered:
Hi Jessica. Foreclosures are generally less expensive than homeowner owned sales, but many times the buyer must be prepared for expenses related to repairs or some elbow grease.
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Tue Apr 3, 2012
Bob and Sue Whigham answered:
Not sure how you know it's in foreclosure. I suggest you check the Montgomery County Sheriff's Properties for Sale list (link http://www.mcohio.org/sheriff/Real_Estate.cfm). If it's on this list the owner still has possesion. If it is you can go to the Sheriff sale and purchase, BTW, a risky task, or wait until the bank takes ownership and it is listed. If you need a Realtor to keep an eye out let me know. 937-435-2267 ext 163 ... more
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Mon Jan 21, 2013
Scott Godzyk answered:
If it is vacant why do you have the utilities on? You should simply contact the bank and tell them you want to complete a deed lieu of foreclosure and sign it over to them. You should not have abondoned your property as teh bank could have assiste dyou with a short sale or loan modification which could hqave kept you in the house. If teh bank will not take teh house by deed of lieu as you are in legal proceedings, tell them it is vacant and tell them you wil gove them access to secure it and winterize it so you can shut off the utilities. You can not put them in anyone elses name espeically without permission. Call your bank and let them know.... ... more
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Wed Oct 21, 2009
Andrea T. Robinson answered:
Hello,

One place to look if you have not dome so alreasdy is the county auditors website. This site will give you the current owners name and possibly when it may be going up for auction. You can also try calling the building department in that city and ask for the owners information and phone number. (a lot of times they don't have it updated but it is worth a shot.) Good luck! ... more
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Fri Jun 26, 2009
Andrea T. Robinson answered:
You can log onto your county auditors website and plug in the address and a lot of time it will have it listed as Auction and you will be able to look up the tax records. This should help you a lot. Normally they also send a certified letter to the address of the property as well.


I hope this helps.

Andrea T. Robinson
www.andreatrobinson.com
216-409-5390
... more
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Thu May 14, 2009
Chris Mabry SRS,e-PRO answered:
Deeaa,
If you are concerned, then you should start by asking your landlord. Let them know that you have reason to be concerned. Has something happened to lead you to believe the house is in forclosure? Typically speaking, if the owner is behind on payments and the foreclosure process has begun, you will have a notice posted on your door regarding a trustee's sale. Someone representing the bank will usually come to the house looking for the owner. Don't be startled just because of all the bad press outh there right now. But do some research if you are concerned. You may want to check with your local county recorder's office to see if any forclosure paperwork has been filed. I hope it all works out okay. Take care! ... more
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Tue Mar 4, 2008
James Gordon ABR SFR SRS answered:
Which house are you looking for? If you could be more specific an expert in area could be of assistance.
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Sat Oct 24, 2009
Bill Seufert answered:
Gary,
Although my brother and sister are UD grads iam not sure that qualifies me as an expert in your area. However numbers are numbers. If you can get $750 or more a month in rent and you are currently paying 705/month, that sounds like a pretty good deal on the surface. Assuming that payment includes your taxes and insurance you could have positive cash flow right away with someone else paying down your debt.
You also have to consider vacancy and maintenance expenses. If you loose your tenant for 2 months and have to spend some cash fixing it up for the next tenant, are you in a position to do so? I don't believe there are enough available characters to explain all of the tax benefits but that is something to speak with an accountant about.
Consider this, if you rent the house out for awhile and the market, which it will, goes back "up" then someone else paid your mortgage while you waited for appreciation.
Heed this warning, being a landlord is not all fun and games.

I would speek to a local Realtor so they can give you a good idea of where your market currently is and if there is anything happening that may effect the future housing industry in your area.
... more
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