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Heard somewhere a retired person pays 30% of foreclosure listing? Could this be correct?

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February 01 2012 - Raleigh
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Answers (10)

I would suggest if you are looking for a home to work with a Realtor, you can look for one under Professionals or email anyone of us for a referral. I work in the Raleigh area. Please feel free to use me as a resource. Best of luck to you.
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February 05 2012
I believe the 30% you are referring to is how much a foreclosure may be below non-distressed property values in the same area for the equivalent.

Read Zillow's Research white paper on the issue:
Price Differences Between Foreclosures and Non-Foreclosures.

Don't forget that part of that price differential is many foreclosures have differed maintenance issues and need substantial work.
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February 01 2012
Would love to meet him!
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February 01 2012
You know the old saying "If it sounds too good to be true, it is" case in point. Be careful of people trying to take advantage of your. Very smart of you  to double check.
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February 01 2012
We are Fannie Mae and Freddie Mac Select Foreclosure Agents serving the Northern Virginia area. There is no truth to pay differentials for foreclosure purchases.
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February 01 2012
I have never heard of such a thing.  The lien holders are looking specifically for a percentage of the BPO.
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February 01 2012
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I would say no. I haven't heard of any program that gives an advantage to specifically to retired people looking to buy foreclosure listings.
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February 01 2012
Profile picture for wetdawgs
Perhaps you could go back to your source and get more information.   Sounds too good to be true, and you know what they say about things that are too good to be true.
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February 01 2012
No
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February 01 2012
Do you mean 30% OFF a foreclosure listing?  Either way, no... that would not be correct.  Could you clarify your question?
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February 01 2012
 
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