Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Linda asks…

How do you get into buying foreclosure homes or homes at auction in city Long Beach or State of California? 2?

2. How much money do i have to have for a down payment for home?

3. where are the best areas to buy a homes right now?

4. Some peoples told me is hot to buy foreclosure homes because it take long time for the bank to relief it? It that true?

Your Questions About Foreclosures

The Expert answers:

To find out about possible foreclosures in the Long Beach area you might google foreclosure auctions followed by Long Beach or Los Angeles.

You should call each auction that you might find listed to see where they hold their auctions as well as how often and how you can get on their mailing or email list of auctions they schedule.

Some auctions require that you have a buyer’s agent to represent them. Then there are some that don’t have this requirement.

The area to purchase these houses depend on your intent for the property. Do you intend to reside in them or do you plan to use them as rentals.

For investment properties you might consider the Wrigley area as well as the North Long Beach areas.

In the money department most require some type of minimum to get a bid card. Some allow a certain amount of time to apply for and get your loan. Failure on your part to finalize mortgage loan you forfeit any possible down payment.

Then there are others that require in addition to the minimum of getting your bid card will want you to have a pre-approval from a local bank.

If a bank is utilizing an auction to sell off assets then they are available immediately as soon as you complete the sale with the necessary funds to close the escrow.

In bidding on a house each auction have their own rules, therefore make sure when you see an auction that you want to attend and bid on you get the entire requirements so you would be successful with any bidding and expectations after your bid has been accepted.

The one thing you want to do is get a list of properties available for auction. Then you would want to do your home work, by going by each property, getting the proper compts, if there are any repairs. Talk to the neighbors find out as much as you can about the property.

Keep a list of each property you would want to bid on to include the maximum you would bid on each property based on any repairs or things you might find.

Please don’t get caught up in the hype of bidding. Remember your goals and limitations, remember your maximum you would want to bid.

I hope this has been of some benefit to you, good luck.

“FIGHT ON”

Your Questions About Foreclosures

Helen asks…

Where can i get listings for foreclosure homes other than internet & why is it hard to fine genuine homes?

I have been reading on internet about foreclosure homes a lot and it seems that unless you pay, you are not able to get access to them. I am wondering if Real Estate agents have access to Foreclosed properties and what is the easiest way to get access to a complete listing and what are the steps involved in buying a foreclosed home?

Your Questions About Foreclosures

The Expert answers:

I bought a foreclosed home last year. We found it in the MLS, just like the other homes. Our Realtor showed it to us. There was a bunch of extra paperwork. The home had been vacant for 2 years, and was not well maintained prior to that. It took 6 weeks from the bank accepting our offer to get a closing on a cash deal. When we got the power turned on the fridge, furnace, and hot water heater did not work. We are still renovating, but it will be nice one day. My best advice to you is to locate a Realtor. Happy house hunting!

Your Questions About Foreclosures

Betty asks…

Is there a way for an average person like me to get a hold of foreclosure homes?

Me and my wife are not financially well off. We survive but we can’t afford much beyond what we have. We half a daughter and wanting to get into the housing market but we live in Los Angeles. We want a house but we are not willing to live in a dangerous neighborhood. We figure foreclosure homes are our only hope because we hear how cheap they are. We also heard they are only for already rich people who have it good with the banks. Is there a way for the average person like us to get a hold of a house that’s being repo by the bank?

Your Questions About Foreclosures

The Expert answers:

Http://www.realtytrac.com has a massive list of foreclosure and pre-foreclosure properties. Great resource.

The first thing yo need to do is learn the market, Know the values and don’t trust anyone. Real estate agents, (I am one) are only interested in the point of sale. Most could care less how little you pay for it. The more you pay the more they make.

Do your homework! Http://www.Zillow.com is a good resource for getting an estimate of home values. It is not perfect and there are flaws, but it is useful.

Get pre-approved for a mortgage if you do not have the cash to buy! You cannot make offers on property and expect anyone to take you seriously if you do not have capital.

Foreclosures are at an all-time high. I’m not sure what the market is like in LA but the rest of the Country is seeing a huge glut of foreclosures.

Expect to have to do some repairs, most of the people losing their homes are not happy and do not leave the home in the best condition.

RealtyTrac is the source you need.

I have also added a link to an investment article on my website.

Your Questions About Foreclosures

Ken asks…

does anyone how to find foreclosure homes in illinois?

my boyfriend and i r looking for foreclosure homes in the lockport illinois area anyone have any ideas?

Your Questions About Foreclosures

The Expert answers:

Try here, I haven’t looked, but you can

http://www.hud.gov/homes/homesforsale.cfm

Your Questions About Foreclosures

Chris asks…

Foreclosure Homes?

what is the best way to find out about up to do or upcoming home closures in my area? i live in Monroe County in New York.

Your Questions About Foreclosures

The Expert answers:

Read the paper or go to your local courthouse for local foreclosures. These are great deals. Talk to the magistrate and they can lead you further in this regards as they are a great asset if you approach them correctly

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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