Foreclosure Tracking
Home i want in foreclosure. Please Help!?
I need Guidance as a first time buyer. Ive been tracking down this house im intrested in purchasing for a while. In the county records i find a lis pendens tracking back to July 2008. The house has been empty since about 2007 and of course it is pretty trashed. The neighbors came in and took out all the stuff. Its literally in the structure only. Im intrested in purchasing this home and when i call the bank all they can tell me is that its still in owner possession. My question is why this home has taken so long to go on the market? is this usual? The owner ive heard doesnt even live in Florida anymore and has no intrest in the house and i cannot get a hold of him.I talked to a Realtor and he just says the house isnt on the market. The bank gave me the phone number of the Attorney and when i called they didnt want to give me any information?
What do i do? I think ive reached a dead end.
You are indeed at a dead end. The best you can do is simply drive by the house every week and watch for a sign to pop up. I have gone through this more times than I can count.
Some day a sign will appear on the property and you can call that brokerage. You may find out that it already sold! or it already has an offer pending! or it is a HUD property or a VA property and will be subject to bids beginning on a certain date and you have to work with an agent who is approved by HUD.
You will find out that the first period of bids are for people who want to live in the house and if no bids are received or accepted in that category then it goes to the investor group. Once again subject to bids. Each time you bid you wait to see if anyone won the bid. Usually it isn’t you who won the bid!
Do I sound like someone who has tried to get into this game? Just be patient and watch and when something happens other than bulldozers make the phone calls. Good luck!
By the way as a first time home buyer you just need to move on. You have too many things against you to buy a house in this condition. Move on and find something that you can buy and enjoy. That house that you like will go to some investor who will do the repairs and put it back on the market. If you are still looking when that happens then try to buy it.
Tracking foreclosed homes
