Profile picture for cnhburton

What is the process for bidding on a foreclosed home? Can you see the inside first?

  • November 20 2013 - Fresno
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Answers (5)

Profile picture for carenkerr3

You can buy a foreclosed home or through a real estate agent or through a public auction.

Some steps are as follows

·         Get preapproved for a mortgage

·         Find an agent who specializing in foreclosures

·         Know how long it takes to sell a home in your budget.

·         Study the sale prices of comparable homes in your area.

  • November 30 2013
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Find a buyers agent to assist you.  If the home is already foreclosed then it will be marketed by a Realtor.  If it is not on the market you will have to wait.

If the home is being sold at auction - more than likely you cannot see it first.
  • November 26 2013
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In California it will depend.  If it is a foreclosure selling at the courthouse steps chances are you will not be able to see inside first.  If it is a foreclosure that the bank is selling through a realtor then, yes, you will be able to see inside.  On other auction websites you may or may not be able to see inside.  Like Tim mentioned below, your best bet would be to contact a local Realtor to look into it for you.
  • November 20 2013
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Profile picture for Luis Parrales
Is there a particular home you are interested in? In addition to Tim's answer it varies from home to home on whether you are able to see the inside beforehand. I would be happy to help you view a home. [Content removed by Zillow moderator. Please see our Good Neighbor Policy]
  • November 20 2013
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Profile picture for Outer Banks N C
If it has been foreclosed it is owned by someone, often the bank. You bid on auctions, you make offers on homes for sale. If the bank owns it then you have a bank owned home and the bank will list it for sale just like any other house. You get a Realtor to get you in to see it and you make an offer. The bank that owns it will require that you speak with a lender and include a letter from the lender saying that you can get a loan to buy the house. Make an offer and see if the bank accepts it or not. it's that easy.


tim
  • November 20 2013
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