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Is it cheaper to buy land from bank foreclosure or from real estate agent?
Wiki User
∙ 12y ago
Banks often use auctions or real estate companies to sell foreclosed homes. The fewer middle men you have, the less it will cost.
However, in many cases you cannot negotiate price or repairs with the bank and most foreclosed properties are in various states of disrepair and have title problems. A real estate agent is savvy about buying real estate and is looking out for your best interests. They may help you to not jump in over your head.
Wiki User
∙ 12y ago
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How do you stop foreclosure on deceased person's home?
You can contact the bank and make arrangements to pay the mortgage. If you can't pay, the foreclosure can be continued and the lender will name the estate and the estate representative in the foreclosure documents.You can contact the bank and make arrangements to pay the mortgage. If you can't pay, the foreclosure can be continued and the lender will name the estate and the estate representative in the foreclosure documents.You can contact the bank and make arrangements to pay the mortgage. If you can't pay, the foreclosure can be continued and the lender will name the estate and the estate representative in the foreclosure documents.You can contact the bank and make arrangements to pay the mortgage. If you can't pay, the foreclosure can be continued and the lender will name the estate and the estate representative in the foreclosure documents.
If a person is dead can a bank foreclose?
Yes. They'll foreclosure against the estate.
Which real estate agents specialize in listing bank foreclosure houses?
Real estate agents who specialise in listing bank foreclosure homes are many. It is advised to speak with local agents who have knowledge of bank-owned homes, foreclosure auctions, and distressed properties. Ask about their experience handling bank foreclosures, do some research on the agents in your region, and get references from pleased customers. You can successfully negotiate the particular complexities of purchasing or selling bank foreclosure properties thanks to their knowledge and network.
Is illegal for a real estate agent in California to represent an investor in the purchase of a residential house that is in foreclosure?
NO! it is perfectly legal for a licensed Real Estate agent in the state of California to represent an investor client in their purchase of a property that has A) already gone to the bank i.e. foreclosure but as well B) a short sale i.e. a property that has had notice of default flied against it and is in the process of being foreclosed upon by the note holder
What are my rights as a secondary heir in my father's estate if his real estate goes into foreclosure?
The banks claim is superior to yours because your father conveyed the property to the bank when he granted the mortgage. You would be entitled to any surplus after the bank deducts its debt, costs and expenses of foreclosure.
If I have a foreclosure on my credit will it affect me in trying to buy real estate?
If you are paying cash, NO. If you are financing it with a bank loan, usually it will. Depends on how long ago the foreclosure occured and the individual policies of the bank you are trying to get a loan from.
What does the real estate foreclosure action determine?
Just like other real estate auctions, it is also a normal auction. When the borrower didn't pay a bank loan then the bank sends a notice to him to pay EMI's within 60 days, but if he didn't pay then the bank seizes his property. banknilami also runs auctions daily on their portal for properties in India.
How do you get a foreclosure listing?
Finding foreclosures is fairly easy in depressed markets, but it's also simple to find foreclosures in strong real estate markets. You can find foreclosures through a real estate agent, see real estate signs they put up on foreclosed properties, Check out major bank websites, Check asset management and government agencies. Also check out some Internet foreclosure companies.
How can foreclosure real estate be sought?
Foreclosure real estate can be sought through various methods. Start by researching foreclosure listings online or contacting local banks and lending institutions. Hire a real estate agent specializing in foreclosures for expert guidance. Attend foreclosure auctions or explore government foreclosure programs. Carefully evaluate properties, considering their condition, market value, and potential profitability. Secure financing or arrange cash reserves for purchasing. Conduct thorough inspections and due diligence before finalizing any deals. Seek legal advice if needed. Be prepared for competition and act swiftly to seize valuable foreclosure opportunities.
What does resale mean in real estate?
In real estate, there is what they call pre-foreclosure selling of properties - wherein the owner, who is nearing foreclosure - could resell the property to a prospective buyer in cooperation of their lender / bank. This is to save the credit of the owner and avoid foreclosure that may damage their credit record.
How can I purchase a home that is in foreclosure?
Purchasing a home in foreclosure is easy. Contact the agent that has the property listed for the bank, submit and offer, have an inspection and close on the house if your offer is approved.
Can real estate that was in a bankruptcy be considered Real Estate Owned?
REO is only used when a bank takes possession of a property via a foreclosure judicial or non-judicial.
