Comments on: What is the deal with foreclosures? http://www.mm-unib.net/how-to-buy-foreclosures/what-is-the-deal-with-foreclosures how to buy foreclosures Tue, 24 Jan 2012 06:19:59 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: namatsar67 http://www.mm-unib.net/how-to-buy-foreclosures/what-is-the-deal-with-foreclosures/comment-page-1#comment-1746 namatsar67 Sat, 26 Jun 2010 21:11:59 +0000 http://mm-unib.net/how-to-buy-foreclosures/what-is-the-deal-with-foreclosures#comment-1746 Get out your Yellow Pages and look up Title/Escrow companies. Find one you are comfortable with and visit it. Once there ask for a foreclosure listing that they may have available. The listing will give you homes that will be foreclosed on and the date they will be auctioned. Title/Escrow folks are helpful, take time to ask them the questions about the process, payment, liens, taxes and etc. You will be surprised how helpful they can be. A foreclosure property will require instant and full payment. There are so many more issue that you will have, ask the local title/escrow you will be glad you did.<br><b>References : </b><br> Get out your Yellow Pages and look up Title/Escrow companies. Find one you are comfortable with and visit it. Once there ask for a foreclosure listing that they may have available. The listing will give you homes that will be foreclosed on and the date they will be auctioned. Title/Escrow folks are helpful, take time to ask them the questions about the process, payment, liens, taxes and etc. You will be surprised how helpful they can be. A foreclosure property will require instant and full payment. There are so many more issue that you will have, ask the local title/escrow you will be glad you did.
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]]> By: NevadaHomes http://www.mm-unib.net/how-to-buy-foreclosures/what-is-the-deal-with-foreclosures/comment-page-1#comment-1745 NevadaHomes Sat, 26 Jun 2010 20:37:59 +0000 http://mm-unib.net/how-to-buy-foreclosures/what-is-the-deal-with-foreclosures#comment-1745 Hi frosty052489, Here are few things you need to know about bank owned homes. ~Banks are overwhelmed right now dealing with their foreclosures; therefore, response time is very slow. Close of escrow can take be up to 60-120 days. ~They usually sell their home at rock bottom price. The negotiation for much lower price is slim. In your case, go ahead and give it a shot. What banks care about is their bottom line. ~Banks do not conduct any repairs; therefore, get it inspected so there will be no surprises. Make your offer contingent on the inspection. ~Find a real estate professional that has experience in dealing with banks. Also look for someone that has an ABR (Accredited Buyer's Representative) designation. Go to http://www.rebac.org to find one in your area. There are many more details. Your real estate professional can guide you through the process.<br><b>References : </b><br> Hi frosty052489,

Here are few things you need to know about bank owned homes.

~Banks are overwhelmed right now dealing with their foreclosures; therefore, response time is very slow. Close of escrow can take be up to 60-120 days.

~They usually sell their home at rock bottom price. The negotiation for much lower price is slim. In your case, go ahead and give it a shot. What banks care about is their bottom line.

~Banks do not conduct any repairs; therefore, get it inspected so there will be no surprises. Make your offer contingent on the inspection.

~Find a real estate professional that has experience in dealing with banks. Also look for someone that has an ABR (Accredited Buyer’s Representative) designation. Go to http://www.rebac.org to find one in your area.

There are many more details. Your real estate professional can guide you through the process.
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]]> By: Tres7 http://www.mm-unib.net/how-to-buy-foreclosures/what-is-the-deal-with-foreclosures/comment-page-1#comment-1744 Tres7 Sat, 26 Jun 2010 20:23:59 +0000 http://mm-unib.net/how-to-buy-foreclosures/what-is-the-deal-with-foreclosures#comment-1744 If he buys the property at master commisioner sale he will more than likely have to have a 10 - 20% bond signed or pay that amount down until closing. Then he can get a normal loan as with any other house. But before you go to the auction make sure his loan is pre approved and can close within 30 days. If the property is listed on the market then you can make an offer through the listing agent or the agent of your choice and they will guide you through the process. You will not have to pay taxes and insurance until you have the property in your name. Good Luck!<br><b>References : </b><br> If he buys the property at master commisioner sale he will more than likely have to have a 10 – 20% bond signed or pay that amount down until closing. Then he can get a normal loan as with any other house. But before you go to the auction make sure his loan is pre approved and can close within 30 days. If the property is listed on the market then you can make an offer through the listing agent or the agent of your choice and they will guide you through the process. You will not have to pay taxes and insurance until you have the property in your name. Good Luck!
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]]> By: engineer50 http://www.mm-unib.net/how-to-buy-foreclosures/what-is-the-deal-with-foreclosures/comment-page-1#comment-1743 engineer50 Sat, 26 Jun 2010 19:45:59 +0000 http://mm-unib.net/how-to-buy-foreclosures/what-is-the-deal-with-foreclosures#comment-1743 Before you try buying any house, you'd better educate yourselves. Buy a good book for first-time homebuyers. There's a lot to know.<br><b>References : </b><br> Before you try buying any house, you’d better educate yourselves. Buy a good book for first-time homebuyers. There’s a lot to know.
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