I am searching for a house, and I obviously want a great deal with the housing market being like it is. I found a great little "gingerbread" house that would be just perfect for me, and it is a Fannie Mae foreclosure home. I was advised to make a low-ball offer, and it would probably be accepted. But, how low can I go? It is listed at ,000.00. It has been on the market for at least a couple of months, judging by the snow-free photos online. The real estate agent says that, even in a good market, it is probably not even worth quite that much.
Single Family Property
2 total bedroom(s)
1.5 total bath(s)
1 total full bath(s)
1 total half bath(s)
Approximately 1014 sq. ft.
1 car garage
Parking features: SLATE
Heating features: Heating Fuel Type:OIL, FORCED AIR
Forced air heat
Inclusions: WATER HEATER: GAS
Exterior construction: VINYL, Foundation: BLOCK
Approximate lot is 55 x 132
Zoning: RESIDENTIAL
Utilities present: PUBLIC WATER, SEWER WASTE
Parcel Access: CONCRETE, PUBLIC ROAD
I live in Wisconsin… and I heard that in inner city Milwaukee, homes that are assessed at ,000.00 are going for as low as ,000.00. I am not in inner city Milwaukee (or any part of Milwaukee for that matter), so I don’t expect to go that low. But, what would you offer? How low would you go?
Or in any state for that matter. I am curious about the process.
Thanks
I put in an offer for a short sale. I offered the asking price. This is a home that is an unbelievable steal. We were the first ones to make an offer and the homeowner accepted. But we know many others will also be interested. I know that the process takes a long time as our realtor told us it would be 30 days before the bank even assigns the case to someone. If someone offered more than the asking price what are the chances we can increase our bid to get the house? Do you think I’ll get this house?
I just found out this weekend that the house I have been renting for the last 3 years [renting for business purposes but we live on the premises as well - my livelyhood is involved with this and I have the type of business that you can't just pack up and move in a weeks time or so] is in foreclosure to be sold in 2 weeks on the courthouse steps.
It is appearantly being forclosed by his bank as well as by the county for back taxes. I have spend the morning on the phone talking to his bank + the county officials to find out the legal ramifications – but all everybody tells me is to get an attorney and discuss this with him. I have just paid an electrician 10 days ago to do needed repairs, and send off the rent check again – never mind 2 mos deposit tied up.
How much time am I legally allowed to vacate once it sells? I need to buy when I move, funds are low due to a slow summer and a recent major car accident. What options do I have? Whom do I need to contact to recover deposit et
The landlord appearantly refi-ed his mortgage in spring + skipped town w/out making a single mortgage, if the info that I have is correct – backtaxes owned are for 2 yrs – the last to me known address is invalid, so is his phone#. His bank tells me they have no current address either.
The last thing I need to do right now is to add insult to injury + to pay an attorney for a job that is nonproductive + only cost me more money.
I want to hear from someone who has been through something similiar in GA on the tenant side or is familiar with the foreclosing end of the banking business or the court house to find out about my deadlines involved and if there is anything I can do to delay vacating the premises.
This is financially ruining me – I need to liquidate as much inventory as possible, sell out and then pay exorbant storage fees for the rest while I go looking for a new place. I have no hope to recover any of the rent/repair funds involved at this time.
I’m currently living in a property that was lost in foreclosure in late nov.2008 on DEC. 4 I received a 60 day notice. I found out 2 weeks ago the property was Fannie Mae owed since they stopped foreclosures and evictions till march 6, 2009 will the 60 days start counting after march 6 or by that day I have to move. I contacted the agent in charge of the property and told them I’m interested in renting the property from Fannie Mae and he told me I was better off moving instead. What can i do to find out more i tried calling Fannie Mae and was told i need to get the info from the agent in charge of the property please help
I am located in California
Is there a free list of assest managers somewhere?
Try the HUD website also. They may have some listings there as well.
What is the quickest way to halt a foreclosure. I do not have the cash to bring it out of arrears and the bank has accellerated the note. Is Bankruptcy the best way to stop it for now. I have placed it up for sale and have a couple of parties interested. I am running out of time. The bank does have mortage insurance on the note . Please give solid advice.
