Hi there Lore, Foreclosure generally means a bank owned property. Depending on the home, size location will effect the selling price. Many Bank owned homes are great deasl but they can be very competitive with many bids sometimes. But if you are thinking about foreclosures I would strongly recommend that you woek with a professional Realtor who works with foreclosures. This will help you be prepared , and ready to make a smart move when a suitable property becomes available. All these homes can be viewwd from my site.
REO/SHORT SALE SPECIALIST
First Team Real Estate... more
Don't purchase a property for more than it's appraisal value. You lose money! You will most likely have to put more money down to cover the 20% required plus the difference in appraised vs real value of the property. The house is no longer the bargain you were looking for so move on.... more
In order to qualify for the loan modification the person on the loan needs to sign the modification documents. If both of you are on the loan then you both need to sign. You might have to see an attorney on this because of the impending divorce.
Hi Melinda. Yes, this 3 Bedroom property is headed for a trustee sale. The current owner bought it a year ago and obviously is in financial distress. Are you interested in buying it or any other bank-involved property? If so, please text me at 310-808-3739, email me at email@example.com, or visit our website below. We're here right now to answer questions or help you with your real estate goals!... more
We recently put in an offer on a bank-owned house. It took us over a week to hear back. Apparently, there were 5 other offers and they were waiting for people to get back to them with highest and best offer. We bid $50K over asking and still didn't get the house, so not sure if lowering the price of your offer would help you. Has your realtor gotten any clues as to where they are in their decision process. We had our realtor call everyday. Good luck. Be patient if you really like the house.... more
Dear Home Buyer in Burbank,
Our website features a foreclosure tab and is updated every week. We list several foreclosures in all of the los angeles area by zip code. Please feel free to visit it and spend some time with the foreclosures. If you see something you like, just shoot us an email or give us a call,. We would be more than happy to help. Good luck to you!
Lou and Alex
LA Real Estate Group
Realtors have access to properties that have NODs and NOTs. Banks often are working with Realtors and secondary groups to be sure the properties sell at full market value...so foreclosures are no more of a deal than anything on the market generally. I would contact a great Realtor in your area and start working with them to find the right property.... more