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Foreclosure in Madison County : Real Estate Advice

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  • Home Buying1
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Activity 14
Sat Sep 22, 2012
Ron Thomas answered:
As far as COST goes; if it is above MARKET VALUE, don't buy it.
If you are talking about a Private Auction; be sure of what you're doing;
can you make INSPECTIONS?
Do you know if it has a CLEAR TITLE?
Do you know the FINAL COST?

Good luck and may God bless
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Mon Sep 17, 2012
Shanna Rogers answered:
Hi carter9ok,

If you have equity, you should try to sell it. Contact a local Realtor to assist you. Why would you want a foreclosure on your credit if you don't have to?

Shanna Rogers
SR Realty
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Fri May 4, 2012
Thomas Bohlmann answered:
Good Question

depends on the part of the county. Could be anywhere from 6 months to 24 months. from the first Letters of Collection being sent to the owner, to the court house sale or hearings.

Each state and county is different.

Good Luck
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Thu Aug 20, 2015
Ron Thomas answered:
Usually not:
That and REPAIRS are anathama to the Banks.

If you are CASH challenged;
you might offer a little more for the house; making it clear what you are doing, and include ~3% for Buyer's Closing Costs.

Good luck and may God bless
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Tue Jan 17, 2012
Linn McAuliffe answered:
Hi Jack,

I was able to attend the Huntsville Area Association of Realtors Economic Summit that was held just a few months ago and I found it very encouraging. The Chief Economist for the National Association of Realtors was the keynote speaker. In his speech, he pointed out that our economy is relatively stable and in a good position compared to many areas in the US. That said, we have seen some reduction in prices on some homes in our area. We do have a lot of new construction in North Alabama and that has also increased competition between existing and new homes. Unfortunately, there are short sales and foreclosures as well, which may also affect the value of the surrounding homes.

My personal opinion is that as long as people are still relocating into this area, we are in good shape. The Chief Economist also relayed that when consumer confidence is down, home sales are down and a pent up demand is created as consumers stay in rentals until their confidence returns.

If you need some more information about the history of home values in a particular neighborhood, let me know!

Good luck and let's be confident!

Linn McAuliffe
Keller Williams Madison
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Thu Mar 13, 2014
Scott Godzyk answered:
Ashley you should start with local agents who specialize in listing bank owned homes. you should be licensed if needed, have insurance and put together business card in literature of teh service yo offer. you should go in an meet the agnets as we get buried in phone calls every day and it is unlikely you will get any jobs from cold calling. When you make a contact offer free estomates, offer them a great price, quick service and do a good job, once you get in, then you should continue to get more work.

Please see my blog on how to get into the foreclosure business
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Tue Apr 12, 2011
Pat Ledbetter answered:
Sun Sep 16, 2012
Thomas Bohlmann answered:
YES and NO.

depends on the location. Most in my area are NOT. but when they come back on the market YES they are.

20 years working with foreclosures we have seen them in all types, sizes and values.

Good Luck
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Thu Jan 14, 2010
Dallas Texas answered:
Your best option confer with real estate attorney who can review entire file, state laws, legal documents involved

No real estate agent can render an opinion due to all legal issues

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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Sun Dec 27, 2009
Don Tepper answered:
That's usually pretty easy.

First, go online and look up the tax record. For instance, if I wanted to find the owner of a house in Huntsville, Alabama, I'd search for ";Huntsville AL tax assessor." That'd bring me to From there, I'd click on "Property Assessment Online." (Most counties and cities have online tax records.) From there, you can search a particular address.

If that doesn't work, knock on neighbors' doors. It's very likely that some of the neighbors will know who the owner is and where he/she/they currently live. I've done that a lot, and almost always succeeded.

If the property has been foreclosed upon and the online search information hasn't been updated, then contact the local tax assessor's office. As soon as the new deed is filed, it's public information. Or just go down to the courthouse and ask one of the clerks there for assistance.

Hope that helps.
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Tue Jan 19, 2010
Diana Welch answered:
Hi Mr. Small, My experience has been that "short sales" are known to the Listing Agent of a home that is heading in that direction, the bank forclosing on the property or referral contacts throught the Agents by Clients that know that foreclosure is imminent. I have a partner that "specializes" in short sales and she understands the specific workings of the process- much different from average residential sales. Strategically, it can be good for an investor, especially in the current Buyers market with low interest rates and avoids many of the pitfalls of buying a Right of Redemption property. My advice is to allign yourself with an Agent that is experienced and can be on the lookout for you, and know how to smoothly transact the procedure. Thanks for the question. ... more
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Wed Mar 12, 2008
John & Linda Cramer answered:
Well that's a good question, now we are not attorneys, however, just some info, depending on your bankruptcy chapter 7 or 13 will determine a lot, I do recomend you seek legal advise and if you cannot afford a attorney there is Legal Aid out there. When you say you are in Bankruptcy have you just retained a attorney? or are you well into the process? The reason I ask is that until it is recorded, you still have a chance. Good Luck ... more
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Sat Mar 1, 2008
Ron Hayes answered:
You can see a list at www.homesales@gov/homesales. HUD foreclosures always require an offer be submitted through a Real Estate Agency. I would certainly be happy to assist you in any way I can.
Ron Hayes, Century 21
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