Profile picture for user6663225

I am about to go into a contract on a house where the asking price seems unbelievable low.

Where can I go to gather information about the neighborhood; schools and crime in area before I make this large purchase?

  • October 10 2012 - Stafford
  • 1
    1Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (10)

Best Answer

Profile picture for Jamie DeSimone
Are you working with a Buyer's Agent? If so:
Did they pull comps for the area?
They should pull the comps and go over those with you to help you come up with your offer price. Just because the listing price is low does NOT mean that the bank will accept your offer of that price.

A question they should have asked the listing agent for a short sale:
Has the asking price already been approved by the bank?
In some cases agents list the price low to encourage multiple bids.

Short sales are a misnomer as they tend to take forever! Once they are ratified by the seller they are still subject to third party approval (the bank). The bank ultimately has control as they are looking to recoup as much of their costs as possible.

If it seems to good to be true you also need to make sure that there are no hidden defects. Research the area, pending construction projects close by and any thing else that may affect future property value.

I wish you the best of luck with your new home purchase!
  • October 12 2012
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Trust your instincts - BUT - also trust your Realtor! If you don't have a buyer's agent, I urge you to get one BEFORE you take any action or make any commitments.  Normally, the buyer's agent's fee is paid through the proceeds of sale, so you should not need to worry about extra expense.Your buyer's agent will guide you through the entire process. S/he can also get valuable information about the property, and can contact the seller's agent on an equal footing as peers. I hope this helps!
  • November 19 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Hi!

Trust your instincts - BUT - also trust your Realtor!

If you don't have a Buyer's Realtor ®, I urge you to get one BEFORE you take any action or make any commitments.  Normally, the Buyer's Realtor's fee is paid through the proceeds of sale, so you should not need to worry about extra expense.

Your Buyer's Realtor ® will guide you through the entire process. S/he can also get valuable information about the property, and can contact the seller's agent on an equal footing as peers.

I hope this helps!  Feel free to contact me any time!

Sincerely,

Peter Del Vecchio
Buyer's Realtor ®
RE/MAX Affinity Group
[deleted by Zillow  moderator. Please see our Good Neighbor Policy for posting guidelines]
  • October 23 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for wreynol4
Is it a short sale or a foreclosure?  This alone would make the price potentially much less than homes, even in the same area.

Best of luck
  • October 23 2012
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for JPyszChicago
Great place for statistics on cities and smaller towns is www.city-data.com  , for schools  www.schooldigger.com
Also when the asking price is really low and when its a short sale be prepared to waste a lot of time, since banks tend NOT to APPROVE low offers, even when this is what the house was listed for. Unless you see "short sale approved at the listing price" you never know what the bank will actually counter offer with. Short Sales are generally very difficult and lengthy in time to buy.You must be patient and willing to try more then once.....
  • October 13 2012
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Gabilan Properties
What do you think the bank is going to say when the BPO (Broker Price Opinion)  comes back higher than the sales price?

This is one of many reasons why  a short sale might not be approved.
  • October 13 2012
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for user6663225
Yes, this is a shortsale.
  • October 11 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Carole Tyne
Is it a short sale??
  • October 10 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I would be asking why the price is so unbelievably low first. The Stafford area is nice and there are few areas that I would worry about, maybe more near Fredericksburg City.

Tim
  • October 10 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Here's a couple of sites where you can access information about your area.

http://www.neighborhoodscout.com/va/stafford/schools/

http://www.staffordsheriff.com/content/reports/
  • October 10 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    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.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.