Saturday, July 10, 2010

Does anyone know how to buy homes owned by banks before they are listed to the general public?

I want to buy/sell a fixer upper. how can i find a good deal on buying a home owned by a bank? If they are already listed by a real estate agent they are usually inflated in price.. I want to be able to go to a bank and make an offer on a home.Does anyone know how to buy homes owned by banks before they are listed to the general public?
it is your type of thinking as to why you can not find a house or afford one. You and everybody els would like the inside track or to some how get the jump on the market. You are not a long they have set up the market as a big maze and the rats just do there best to run throw it.


This web site tells how they did this or atlest gives you the idea.





http://www.breakingbubble.com/





Now if you some how got this list before every one els would that short the market? and if the market is shorted would that not drive up prices? Yep that is what happen to make this market that will soon be crashing since it has been messed with.





Everybody thinking they want or have the inside track or some how there Realtor was able to get the jump all shorted the market and drove up prices And every one losses with high and over inflated prices. They appealed to every ones greedy or self centers and we have all lost.





Would is not be a a better deal if there was a mandatory fully assessable by the public that was ran by the county. That way the housing market would be fair open and honest and there would be not so much hidden information.Does anyone know how to buy homes owned by banks before they are listed to the general public?
I know it doesn't work like that here in Toronto. We had clients last month who wanted to do just that. They found a house that they wanted, and after some research, we found that the bank was repossessing it. They wanted us to try to help them get it before it hit the market, which sounded reasonable to us.





So we tried and tried and the bank would not even admit that they were taking it and selling it. There was no way at all to get at it. This still seems very odd to me, since we were offering them a way to sell the house without having to list it, without having to pay commissions to both sides, without having to wait however long to sell it.





Not sure how it works elsewhere, but that is the experience I had here when we tried to do the same thing barely 4 weeks ago.





Good luck!





Laurin Jeffrey


Jeffrey Team


www.jeffreyteam.com
You can start by contacting the local banks in your area. You may also want to contact the local courthouse and ask for a list of properties going up for sale at the next Sheriff's sale. Typically, banks are looking to sell foreclosed properties to pay off their loan balance plus any legal fees incurred. They may be willing to make a deal with you and take a small loss, it depends on the bank. When you find a property, make sure you do some research. Check again with the courthouse to see if there are back taxes owed or any other unsatisfied liens. These will have to be paid by you in order to take clean title to the property.
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