any one know about real estate?

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Posted by Soon2BMrsD

so FH and i were looking online at a bunch of forclosures and we know NOTHING about anything that has to do with buying a home.. can anyone help?

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fh works in the field..what do you want to know?

meggo what sites are you using? justin and i are looking into foreclosures but can't find a darn thing!

what i want to know is..

1. How do you go about looking into a forclosure?
2. Do we have to go to a auction?
3. if its posted for 60,000 is that what we buy it for?or is that just whats left on their loan and thats the lowest they will take for it?
4. i do see any of the major real estate companies posting them i saw them on real tech? some site that MLS uses and it gives no info is there another site i can get more info on the houses??

THanks so much

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Posted by Soon2BMrsD

what i want to know is..

1. How do you go about looking into a forclosure?
2. Do we have to go to a auction?
3. if its posted for 60,000 is that what we buy it for?or is that just whats left on their loan and thats the lowest they will take for it?
4. i do see any of the major real estate companies posting them i saw them on real tech? some site that MLS uses and it gives no info is there another site i can get more info on the houses??

THanks so much

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Ok Fh says...he doesn't know that..i have no idea if he does and he's just saying that ....he seems cracky..im sorry meg..i wish i could help

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Posted by Bride 2 Be

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Posted by Soon2BMrsD

what i want to know is..

1. How do you go about looking into a forclosure?
2. Do we have to go to a auction?
3. if its posted for 60,000 is that what we buy it for?or is that just whats left on their loan and thats the lowest they will take for it?
4. i do see any of the major real estate companies posting them i saw them on real tech? some site that MLS uses and it gives no info is there another site i can get more info on the houses??

THanks so much

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Ok Fh says...he doesn't know that..i have no idea if he does and he's just saying that ....he seems cracky..im sorry meg..i wish i could help

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no prob! thanks anyway!.. i asked my friend that does mortages and he wasnt sure either. so i thik ill just have to call a real estate agent

most foreclosures are kept kinda secret but you would get all the info from a realtor

but what the price is..thats what the house is being sold for..

the owners didnt pay their mortgage and the bank buys it and they sell really low so they can get rid of them

a really good idea is to buy a foreclosure and within a few months sell it for what its worth and make a HUGE profit

FH and i were thinking about going this route as well but i hear that it can be costly because you ahve to have the amount of the balance on the mortgage on hand and you may have to pay lawyers or someone to get the people to vacate the house.

this is what i heard - but i am not sure how true it is

The house next door to me was in foreclosure and was vacant for 2 years. It was listed (and sold) for $336,000.

BUT be careful when you buy those! My new neighbor has to put in at least 100,000 to make the house liveable. You NEVER know what you're going to get when you buy a foreclosure and there's no one to complain to if something is wrong. The bank doesn;t give a sh&t what kind of condition the house is in. It's sold as is