How do I buy a house in Foreclosure?

You have a house listed that's not on the MLS. How would someone go about putting in an offer? They are working with me as their Realtor.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 19 2012 - West Jordan
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (8)

What I think your saying is...... YOUR THE REALTOR and a client came to you asking about buying a home that is for sale (they would know this by a sign in the yard or some other way) and you can not find it on your local mls.  

You need help with how to get info on the home to make an offer. If this is the case then.......

There are companies out there like hubzu and other's that list there homes in any give part of a state with one agent that might be 1 or even 2 counties away from you. Thus they don't pay for your local mls and it's not listed there. 
This happens in Lancaster County PA from time to time Hubzu lists all there home with an agent from Philadelphia. That agent lists the home in Trend mls and not in keystone. I am located in the Keystone mls. So if I put the address into my mls the house will not come up but I can see it for sale on zillow or trulia. So I am sure it's listed the client drove past and seen a for sale sign in the yard. First thing I do is check all my surrounding mls. Trend to my east. CPML to my north and RAYAC to my west. I will normally find it in one of them. Then just set up the showing and contact the agent to see if there are any extra bank doc's that are needed if the client put's in an offer. for more info stop by http://stormteamrealestate.com

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 23 2013
Hello Debbie, 
As mentioned by some others, you really need to make sure to locate a realtor that can help you because the offer as well as other paperwork necessary needs to be very specific both in the information but also the timeline. Typically you will need to have some escrow money as well.
Hope this helps.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 22 2013
Debbie who is working with you as their Realtor?  Do you mean to say that you do not have representation, that the listing agent is your only contact?  A property prior to foreclosure is most likely short sale, if it was foreclosed is bank owned.  Either way try to find a buyer agent to represent you.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 21 2012
Contact a Realtor.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 20 2012
Any chance that the listing is through RealtyTrac?  I have found that site syndicates "listings" to web sites like this one but sadly most of the homes are not available for sale.  They may be about to be foreclosed upon, or recently foreclosed.  They could also have been a few days late on a payment... it's hard to tell. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 20 2012
Is the home actually listed? If it's not on the MLS then it's not listed with a local brokerage.

Most federal foreclosures are listed with local aqents but some are not. Check www.homesteps.com for Freddie MAC foreclosures. Check www.homepath.com for Fannie Mae foreclosures. Check www.hudhomestore.com for HUD foreclosures.

If it's not on the MLS or one of the sites above it may have been turned over to an auction company like www.gohoming.com. You can google foreclosed home auctions to find other sites

Also try goggling the property address to see if it pops up on  an auction, bank, or asset management site. Big banks like Bank of America have REO property sites.

It's also possible that the property is still in the foreclosure process or if it has been foreclosed on, may not be released yet. In this case you will need to check your county's website to determine who owns the property. If it's a bank you can call them and ask for their REO department. If it's an individual you can mail them at their tax billing address to find out the status of the property.

A good buyer's agent can also do this research for you and assist you in negotiating the best terms and price.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 20 2012
Hi Debbie, I know of agents who've contacted the bank, if they know who the bank is, and ask who they'll be listing it with then contact the listing agent about submitting an offer etc.

I just heard an agent earlier this week say that she had done this very thing. I hope this helps.

Becky
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 19 2012
I can't figure out the crux of the question. Are you saying you will be the listing agent and wish to put in an offer on the property. I think you are going to have to completely restate the question.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 19 2012
 
Related Questions
How do I buy a house in Foreclosure?
Profile picture for Jesse Storm
Latest answer by Jesse Storm
November 23 2013 | 8 answers
Starting
Profile picture for Justin Critchfield
Latest answer by Justin Critchfield
October 10 2012 | 2 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 1323 W Sunburst Dr, West Jordan, UT Home For Sale
    1323 W Sunburst Dr, West Jordan, UT 84084

     For Sale: $174,900

    • Beds: 3
    • Sqft: 2185
    • Baths: 1.0
    • Lot: 6534
  2. 8452 S 6430 W, West Jordan, UT Home For Sale
    8452 S 6430 W, West Jordan, UT 84081

     For Sale: $243,900

    • Beds: 3
    • Sqft: 3002
    • Baths: 2.0
    • Lot: 5227
  3. 755 W Fairway View Dr, Sandy, UT Home For Sale
    755 W Fairway View Dr, Sandy, UT 84070

     For Sale: $189,000

    • Beds: 2
    • Sqft: 1704
    • Baths: 3.0
    • Lot: 1306