Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

George asks…

Is there a free, trustworthy website that lists low cost homes for sale…i.e. back taxes, foreclosure etc.?

Your Questions About Foreclosures

The Expert answers:

Free & trustworthy?

Foreclosures: The information is free and it is at the county courthouse (recorder’s office). Websites tend to have a copy but someone paid to get the information into the system.

Taxes: Normally handled at the county level and there will be a tax department. They might have online records. They might run tax lien or tax deed sales. You have to check with the specific counties. Only certain states allow tax sales.

Your Questions About Foreclosures

Paul asks…

what is the difference between buying a foreclosure and buying a regular home for sale?

Your Questions About Foreclosures

The Expert answers:

The foreclosure will generally be sold as-is, since the bank really can’t say what, if anything, is wrong with the property. Also the foreclosed property will probably need some work, maybe alot of work. Still, since the place needs work and is being sold as-is and since the bank probably jsut want to sell the place quickly for whatever they can get, the place will probalby be sold at a good price (below market even when taking the fixup costs into account).

Your Questions About Foreclosures

James asks…

Buying a home on foreclosure/ short sale. Can I still bid for a lower price?

Your Questions About Foreclosures

The Expert answers:

There no rules as to what you can offer. You may choose to offer whatever you want.

The real question is whether or not an offer that is substantially lower than the asking price in a short sale situation has much chance of being accepted by all the relevant parties including the bank.

The answer is that there is no clear answer. Some will not even accept an offer that is considerably above the listed price. You never know until you make an offer and see what happens. Come to think of it, that is always the way it is with offers and counter-offers.

Your Questions About Foreclosures

Donald asks…

Homes for sale in Merced&Stanislaus County,CA?

Foreclosure,short sales,favorite,resale,new homes,mls

Your Questions About Foreclosures

The Expert answers:

Send me your email address and what you are looking for. Your question is super vague.

Your Questions About Foreclosures

William asks…

Will taxes be forgiven on second homes that go into foreclosure or only primary residences?

If you owe more than what you sell a home for (short sale), the IRS typically charges taxes on that amount that is deficient. Under the new laws, the taxes are forgiven. IS this only on primary residences or does it include second residences?

Your Questions About Foreclosures

The Expert answers:

Only on your primary residence.

Powered by Yahoo! Answers

Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures

Your Questions About Foreclosures

Your Questions About Foreclosures