Anyone here a bank forclosure expert?

[Flamingo kid]

I have a question.

Can you go to a bank and ask them about their foreclosures, or do you have to actually deal with a realtor?

The reason i ask is that i think you can get a better deal if you deal directly with the bank, i mean, what do they know about real estate values and whatnut. They're just looking for some quick cash.

 

[TTinCO]

Re: Anyone here a bank forclosure expert?

From what I've seen-it all comes down to who you know. Before a property goes into foreclosure, all the RE agents & mortgage brokers have already had a shot at it during it's "pre-foreclosure" stage. If you can snag something before it actually goes into foreclosure, you may be able to save yourself a TON of headaches.

"True" foreclosures can get real messy, real quick.

 

[Doc Mercer]

Re: Anyone here a bank forclosure expert?

fuck dealing with a realtor

why give those ass scums a % for doing shit ??

deal with the owner directly

 

[Joeyfitzclick]

Re: Anyone here a bank forclosure expert?

If you think you might miss something trying to sell your home yourself in a normal everyday situation just imagine what could go wrong when dealing with a foreclosure/short sale, with at least one, but usually two, pissed off, in no hurry, lien holders to negotiate with ?

Use a professional - in most cases the bank will compensate the realtor directly as part of their write off/loss.

 

[Doc Mercer]

Re: Anyone here a bank forclosure expert?

Flamingo ...

do your homework ... lot of good sources online

I would rather play 18 holes of golf with Dick Cheney than shell out money to
a Real Estate agent

Fuck em .. that is money out of your pocket

 

[Flamingo kid]

Re: Anyone here a bank forclosure expert?

If you think you might miss something trying to sell your home yourself in a normal everyday situation just imagine what could go wrong when dealing with a foreclosure/short sale, with at least one, but usually two, pissed off, in no hurry, lien holders to negotiate with ?

Use a professional - in most cases the bank will compensate the realtor directly as part of their write off/loss.

Im not looking to sell, im looking to buy. (i.e. steal) a property that's way under market value.

 

[cheapseats]

Re: Anyone here a bank forclosure expert?

You're better off chasing NOD's Notice of Default's. That way you can get to the deliquent borrower before the real estate agents get to far into the game. At this point, you may be able to execute a short sale with the lender. Otherwise, I know guys that are putting 30-50 offers in a month, only to get, maybe one deal, and its going to be the dog.

 

[Flamingo kid]

Re: Anyone here a bank forclosure expert?

You're better off chasing NOD's Notice of Default's. That way you can get to the deliquent borrower before the real estate agents get to far into the game. At this point, you may be able to execute a short sale with the lender. Otherwise, I know guys that are putting 30-50 offers in a month, only to get, maybe one deal, and its going to be the dog.

Sounds like great advice. I don't know anything about this stuff, i'm going to have to read up on it.