Profile picture for smith2219

property bid

How do I bid on property foreclosures I have seen on here.  The one I am interested in is

7009 E Acoma DrUNIT 1044, Scottsdale, AZ 85254

  • October 15 2013 - US
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Answers (3)

Profile picture for CallTheSisters
Find a buyers agent to assist you.  They will be able to find out the status of the property and assist you with the necessary paperwork.  Foreclosures often require additional paperwork.
  • October 15 2013
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I don't see that being for sale. One listing on zillow says it was foreclosed. That is a past event and means nothing really, certainly it does not mean it is for sale. It might have been foreclosed, if so there will be a new owner that can do anything they want. Often the new owner is the bank and that makes it now a bank owned home. The bank can sell it if they want - when they want. Often that can takes months to get around to listing it with a Realtor, but they will and then you can make an offer (not called a bid) on it. Find a good Realtor to work with and be ready.


tim
  • October 15 2013
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This depends on what type of foreclosure. Who is the seller? Is it Fannie Mae? Chase? a HUD property? Your best bet is to get with a good buyers agent that can help you.  Every bank has a different process for bidding and different guidelines. For Example, Homepath and Hud properties give owner occupants 1st priority. The local buyers agent should be familiar with the process once they find out who is the seller.

Hope this helps!

April Gordon
  • October 15 2013
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