Foreclosed Homes

This was posted earlier in another thread

http://www.realtytrac.com/freeSearc...ccnt=122140#111

 

I hate free trials where you have to give credit card info...

 

pirc1, you might want to give the full link.

 

I'm a Realtor, and I can get info on foreclosures in the area she is interested. I just had a closing on one today.

Let me know if you are interested. Brianvn13@yahoo.com

 

I'm also interested in the foreclosed houses...what are the pros and cons?

 

http://www.eaglere.com/

Ask for Lisa Bradley.

 

www.foreclosehouston.com

They are run locally and send people to the courthouse to scan in foreclosure notices.

When you buy a foreclosure...BE CAREFUL. You buy it largely sight unseen. You don't know how damaged it may be on the inside.

You also have to pay with a cashier's check in full at the auction.

 

Pros : You can get a great deal!
Cons : You may have cement poured down your plumbing by the previous pissed off owners!

 

Just be cautious about it. The final sale price from the bank might not include misc fees like passing the inspection, which could go up as high as tens of thousands of dollars depending on the condition.

 

I heard that it is better to buy pre-foreclosure homes because you don't face competition from the pros. But you will have to solve the liquidity problem of the seller.

 

Actually, the opposite is true. That is why they are "pros".

 

My next door neighbors abandoned their house at the end of December. It took until the end of August for the foreclosure stuff to go through and the house to be put on the market. Of course, that just makes me feel bad because the bank is asking less $9,000 less than my wife and I paid for our house two years ago and they're apparently not getting any bites (the house next door is identical to mine). We don't have any intention of selling, but it's a bit depressing to find that we probably couldn't sell even if we did want to.

Despite that (and the numerous other houses for sale in the subdivision), the builder that owns all the empty lots around us is building like crazy. Five houses under construction on my street alone.