Zillow Advice: Buying Foreclosures - Foreclosure Question

Foreclosure properties are ...

Mon, 09 Feb 2009 02:47:00 GMT

Foreclosure properties are in abundance right now and although you may think banks are willing to take "anything", they have too much going on to deal with negotiating. What I have found lately, is that putting your best foot forward (in this case, your best offer first), you have a higher chance of getting an accepted offer from the bank.

Many properties are already priced in accordance with needed repair, etc. Also visit our website at www.HoustonForeclosureQueens.com for more information on the Houston area market.

My advice would be to make ...

Fri, 16 Jan 2009 16:06:00 GMT

My advice would be to make your first offer your best offer. Banks are not very interested in negotiating. You will need to work with a Realtor to get data on sold comps in the area so that you can get a feel for the market value of the home. Also, I would not expect the bank to be willing to pay any closing costs. Contact me for any additional help or advice. Good luck.

Alex -We work the Meyerland ...

Wed, 14 Jan 2009 11:59:00 GMT

Alex -

We work the Meyerland area on a regular basis. Please feel free to contact us and discuss your concerns. We'll do whatever we can to assist you. There is never an obligation for us to represent you. Have a great week!

Meg

remember, if you are only ...

Mon, 12 Jan 2009 05:10:00 GMT

remember, if you are only talking to the listing agent, likely that agent ONLY REPRESENTS THE SELLER.

I'm not going to come on with agent like speak that 'you need your own agent' make your own choice, simply keep that fact in mind about every single thing the listing agent tells you.

A foreclosure is a tough ...

Mon, 12 Jan 2009 04:26:00 GMT

A foreclosure is a tough buy. If you are using an agent, make sure they are really good at follow up ad border on nagging. A lot can go wrong. They usually take forever. also, make sure they submit offers you are comfortable with, not what the selling agent recommends.

You might also want to try one of the builder's properties. They may be more interested in getting out quick than the bank.

This place is located around ...

Mon, 12 Jan 2009 04:23:00 GMT

This place is located around galleria in Houston, around Chimney rock to be exact.

Tiffany Bond: what do you mean by "Find someone that is willing to go to bat for you"? I am not sure I understand what you mean.

I like this proparty, but I dont know how to find out if this is something acceptable.

Also I had forgot to mention in my orional post, there are 4 or 5 homes that are in the same develpment that are for sale by the builder. No one had lived in them and they are asking 339K The difference in this one is that some one foreclosed and someone had lived in this place but only for a year. The house seems very nice, bank tried to make the house attractive, so they had it -repainted, and wood floors cleaned. So it seems that the builder is having difficulty selling their places as well.

Any thoughts?

Thank you!

where is it? some areas have ...

Mon, 12 Jan 2009 03:32:00 GMT

where is it? some areas have banks more desperate than others.

Find someone that is willing ...

Mon, 12 Jan 2009 02:54:00 GMT

Find someone that is willing to go to bat for you. Buying a foreclosure is a tedious process. You can offer as low as you like....the bank may or may not accept (or even respond).

Another route may be to look for estate sales. They can have equally good values and are usually way less hassle than a foreclosure.