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Answers (9)
- Pasadenan
- Contributions:21460
It is not clear what the poster's original question is...
If the question is how to see the details for the homes listed by foreclosure.com on the Zillow "homes" search...
Most of those are "pre-foreclosures" and not for sale. And most of what Foreclosure.com lists is only to sell subscriptions to their monthly services, thus they often don't provide addresses, and without an address one is only "guessing".
There are many government and lender websites that have much better data on foreclosures. And once you have an address, you can start looking at the home-details pages for more information.
If the question is how to see the details for the homes listed by foreclosure.com on the Zillow "homes" search...
Most of those are "pre-foreclosures" and not for sale. And most of what Foreclosure.com lists is only to sell subscriptions to their monthly services, thus they often don't provide addresses, and without an address one is only "guessing".
There are many government and lender websites that have much better data on foreclosures. And once you have an address, you can start looking at the home-details pages for more information.
- Mary Jo Bowe, "Maryjobowe"
- Contributions:7
As stated below, there are many steps to buying a home whether it is a foreclosure, private owned, auction, etc. The major factors are what type of loan program your lender and you have decided is the right path, and the amount you are comfortable with, once that is decided the realtor will be able to help you with the correct type of home.
Good luck with your search
Good luck with your search
- Mark Nehs, Wisconsin, "WI Mortgage Lender"
- Contributions:250
Agree with comments already said and want to stress condition of the property is a major factor for a lender to finance the home. You may qualify for traditional financing but the property may not.
As KerryAnn mentioned, Homepath and FHA203k are options but be sure to work with an experienced Realtor and lender in purchasing foreclosed homes.
Plenty of good deals in that price range in and around Suamico.
As KerryAnn mentioned, Homepath and FHA203k are options but be sure to work with an experienced Realtor and lender in purchasing foreclosed homes.
Plenty of good deals in that price range in and around Suamico.
- KerryAnn Douglas, "KerryAnn Douglas"
- Contributions:68
Of course! One thing to keep in mind that homes priced in at this list price and lower in this area more often than not need more than just a coat of paint and new flooring. If you have already been pre-approved have you discussed with your loan officer that you may be interested in purchasing a foreclosed home? You may need special financing such as a 203K loan or Fannie Mae's Home Path if you purchase a Fannie Mae owned home. I have been selling foreclosed homes to clients for the last 8 years. If you like, I publish a very general foreclosed home list on Thursdays on my facebook page (not sure if I'm allowed to actually post the link here) and directly to my contacts looking at the foreclosed home market. If you like, I can add you to that list or you can let me know if there is something specific you are looking for which I would be happy to forward to you. Good luck to you!
- Rick Chumsae, "Rick Chumsae"
- Contributions:283
As an agent who has worked the REO/foreclosure marketplace for 15 years, my advice to a layman is AVOID any kind of property auction
because you need to do due diligence and most people have no clue.
Plus, you might do a lot of research and be blown out of the bidding by ignorant birds who assume it is cheap because it is an auction.
A far saner way to go is to strike your best deal on active listings. You can visit Fannie Mae foreclosures (have been through the dicy auction process) on homepath dot com. These come on market at market value but if the asset ages a few months then you can make a good buy. Also, homeopath offers 3% (10% for investors) down financing, no appraisal required, no MIP. They also offer Homepath Renovation lending for assets that need work (similar to FHA 203k).
because you need to do due diligence and most people have no clue.
Plus, you might do a lot of research and be blown out of the bidding by ignorant birds who assume it is cheap because it is an auction.
A far saner way to go is to strike your best deal on active listings. You can visit Fannie Mae foreclosures (have been through the dicy auction process) on homepath dot com. These come on market at market value but if the asset ages a few months then you can make a good buy. Also, homeopath offers 3% (10% for investors) down financing, no appraisal required, no MIP. They also offer Homepath Renovation lending for assets that need work (similar to FHA 203k).
- Dave Matthews, "Dave Matthews"
- Contributions:14
Absolutely! If you plan on buying at auction you'll need to be prepared to act fast and with very little time to review the property. Buying a bank owned property may cost a bit more but you will have time to inspect.
Depending on your market area, you may be limited to the condo versus a single family.
Check with a mortgage consultant to determine what you can afford before you get caught up in the process. Most sellers even at foreclosure, will look for preapproval.
Depending on your market area, you may be limited to the condo versus a single family.
Check with a mortgage consultant to determine what you can afford before you get caught up in the process. Most sellers even at foreclosure, will look for preapproval.
- Katherine Cannon, "highheeledhomeowner"
- Contributions:107
Remember that traditional resales have to compete with foreclosed homes, so keep an open mind and don't limit your search to bank owned homes. Also, make sure you keep in mind the "true cost" of a home. What is important to you?- Down payment, monthly payment, or a move in ready home that will need minimal money put into it in the coming years. Good luck!
- Wes Black
- Contributions:509
You sure are. Contact your local bank loan sept and talk to an advisor. They will help you obtain a pre-approval letter for the amount you can borrow. Then find a great realtor and off you go.
- B Mike West
- Contributions:240
If your are financially qualified for a $90,000 pourchase and there are homes in your area in that price range you can certainly look at them. The prudent thing to do is contact a local loan consultant and determine in what price range you are qualified to buy. Armed with that knowledge you can selece a local Realtor and start shopping.
I am looking to buy a home under or around 90,000. Am I able to look at any of the foreclosed homes?
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