Can I purchase a home that is "IN FORECLOSURE" ?

By
Real Estate Agent with Godzyk Real Estate Services
http://actvra.in/mWh

I recently received a call from a buyer here in Manchester NH that wanted to know how they can purchase a home that is in foreclosure. it is actually a common question. First, i asked if it was in foreclosure or was just in the process. Then i asked for the address so i could look to see if it was listed. In this case it was not.

 
The buyer insisted they wanted to buy it NOW. I let them know that as it has not yet gone through the foreclosure auction and it is not on the market, it is very unlikely they can purchase it until the foreclosure auction or when and if the bank takes the property back at auction. If the lender takes it back, it will be listed once the occupant is evicted, the property cleaned and secured and the title is clear.


The lender can not do anything now, they dont own it. The seller probabily owes more than it is worth. Because it is in foreclosure there is probabily not enough time for a short sale. As they are losing their house and home, they will not be very happy about helping anyone else buy it from under them.





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If you are Looking for a Real Estate Agent you have come to the right place. Scott Godzyk is a Full Time and Local agent ready to serve all of your Real Estate needs through each step of the buying or selling process. We are proud to be locally owned and operated.

If you owe more than your house is worth, If you are behind in your payments, I may be able to help. Call me to find out how you may be able to sell your home at no additional cost to you.

Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Ssles, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.

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Topic:
Home Buying
Location:
New Hampshire Hillsborough County Manchester
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POSITIVE ATTITUDE for the Weary Soul
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Comments 12 New Comment

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Rainmaker
979,963
Scott Godzyk
One of Manchester NH's Leading Agents
Godzyk Real Estate Services

Tracy that is something tha bothers me as well. There are so many bank owned homes that i get and have the old companies sign from months and months before the foreclosure. If those agents had to pay for those signs they would not be left behind. Additional it shows the lack of follow up with some agents. the public does nt always know the process or the time frames. It is confusing. The one good thin is i usually get very appreciative buyers once i take the time to let them know how it works.

November 03, 2011 08:57 PM
Rainmaker
779,373
Al Raymondi
Ormond By The Sea Florida - Home and Condo Sales a
Ocean View Realty Group in Ormond By The Sea Florida

Nice post Scott, we are all getting the same questions.  I love that hire a Realtor sign.

November 04, 2011 09:42 AM
Rainmaker
979,963
Scott Godzyk
One of Manchester NH's Leading Agents
Godzyk Real Estate Services

Thank you for the comment Al, that is a great sign, i would like it in front of my new office but i will have to fight the city for a regular sign as it is

November 04, 2011 09:47 AM
Rainmaker
639,430
Gene Mundt
Mortgage Lender - Chicago/Chicagoland Mortgages
www.genemundt.com

Scott:  I think in most cases, the public does not understand the foreclosure process or just how long the process really is.  It's not a simple task, from a legal point of view.  But for those that knowingly want to enter into a fraudulent and illegal action ... and then have the audacity to ask you to help them??  Uh-uh .. move on.  And I hope the bank is made aware of the potential scam being planned.  Love the sign ...

Gene

November 06, 2011 02:36 PM
Rainmaker
979,963
Scott Godzyk
One of Manchester NH's Leading Agents
Godzyk Real Estate Services

Thank you for the comment Gene

November 06, 2011 03:18 PM
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Rainmaker
979,963

Scott Godzyk

One of Manchester NH's Leading Agents
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Additional Information

Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Sales, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.