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How do you find out what the cost of a home is that is a forecloser?

  • January 27 2012 - West Springfield
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Answers (2)

Do you mean you want to find out what the owner owes the bank of a home that is near foreclosure? If so you can't and it would make no difference anyway. You can not buy it from the bank before it goes into foreclosure. Why not you ask? Easy, because the bank does not own it and you can't buy a house from anyone but the owner. The foreclosure process converts ownership to someone else at the auction, then you can buy it from the new owner which could be a bank. At this point it is no longer a foreclosure it is now a bank owned home also called a REO property.
  • January 28 2012
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Hi Cindy,

I'm not sure where you saw the ad for the home, but that does make a difference.  Some websites are not up to date and still advertise old information, especially foreclosures.
If the ad states it is a HUD home, look on their website of hudhomestore.  The home may be bank owned and will most likely be listed with a real estate company.  You can find out about those through a local real estate agent.

Good Luck,
Christine
  • January 28 2012
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