Foreclosures Help Information

Posts Tagged ‘buying’

Buying Foreclosures Homes

Question: What is the process of buying a foreclosure home?

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Answer: Talk to Real Estate Agent that specializes in REO.
Real Estate Owned properties.
The problem with foreclosures is that you have no way
of determining the value of the property before the sale.
The house could be literally destroyed and you paid
what the bank asked for it...

REO's are foreclosures that weren't sold at the court house
and now belong to the Bank again. These are usually listed
with a Real Estate Agent and you can inspect them before
you make a decision. And on top of that they are usually
a lot less than the foreclosure where the bank is still trying
to get the money that is owed on the mortgage.

Again... be patient... most of them will be in bad shape and
it will take a lot of "touring houses" before you find one that
is acceptable and where you won't have to spend too much
money to fix up the house.

How To Buy Foreclosed Homes

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Buy Foreclosure Tips

Question: How to find a best deal for buying a foreclosure house? Please share your experience...?

We want to buy a house for the first time and decided to check foreclosure houses. What do you think, it is a good idea? We look for ones built after 2000, aprox. 2500 sq.f. and $100.000
and up. Can you give any tips or some good advices...Thank you!
We are looking for a house in Houston west area. Do you think that 4 or 5 years old house need a lot of fixing, repairing? I think, it should be in a pretty good condition...Do we have to find a house and then contact a realtor selling that house or at first find a realtor and let him to look for a house?

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Answer: Have your realtor check on glitches in the process.
A friend is trying to purchase and has be in the process for 2 months. Second mortgage, past dues on utilities and stalling on the banks part have taken forever to resolve.

How To Buy Foreclosure Real Estate

Buying Foreclosed Real Estate

Question: how do i buy a foreclosed house which is real estate owned?

I Found a house which was recently foreclosed and it has recently reverted back to being real estate owned. the asking price is 50,000 less than the property value. i found this on yahoo realestate and it was through realtytrac so who do i contact about this property?

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Answer: Teres should be some kind of ID number associated with this property, or a name of the agency holding it. If not, call and check public records in the county the home is located in. Someone is paying taxes on the home as well so you can check with the local receivers office. Good Luck!!

Real Estate Tips : How to Buy a Foreclosed House