OfTheCross
Veteran
How would one go about purchasing a property that's in pre-forclosure? How long does the process take in your experience and is it something that I can do w/o being a realtor or having one?
The Official Homeowners Thread
- Thread starter Dolla$
- Start date
jwonder
Superstar
I've never bought a property in pre-foreclosure but from all the people I've talked to, it can take a year. It really depends on the bank. My house that I bought when I moved back to FL a few months ago, was bank owned. So all the crap going back and forth was completed. It took 30 days, but I could have closed in 15 days if the bank was not stupid with the price. I told them what the house was worth, but they didn't believe me. The appraisal came back at the exact amount I told them and they had to give it to me.
OfTheCross
Veteran
ah...I thought the advantage of getting a foreclosure was it was below market price...but I guess not since they pretty much just give it to you for the appraised amount
jwonder
Superstar
You can get it below market price. It depends on the condition of the house and the geographic areas. The banks set the price they think it should sell for. The problem is they are not always correct. That's where your appraisal kicks in. Banks generally don't want to hold on to houses because it is not cost effective.
Dolla$
Minus the bullsh*t...life's great
Anyone ever turned their backyard from grass to concrete? How much did it run you?
I’m contemplating on doing that soon. Maintaining the grass in my backyard is inconvenient and a hassle. Unless i install an automatic sprinkler system but that would be too much bread
I’m contemplating on doing that soon. Maintaining the grass in my backyard is inconvenient and a hassle. Unless i install an automatic sprinkler system but that would be too much bread
Hiesenberg
Pro
I have very little grass left after installing pool and patio last year. Just two small strips of sod and lava Rick's around the waterfall
Black Cher
All Star
Has anyone purchased a HUD house before? What was the process like?
Did you have to install Ring yourself? The cameras? I can do the doorbell.
Remodeling a quarter of the house. Basement, additionally garage space, only bedroom downstairs and all but 1 bathroom. Never go cheap on your contractor. If they aren't the type to go the extra mile or have consistent employees 
They are gonna fukk something up that you won't notice immediately and it will end up needing replacement before it should be scheduled again.
They are gonna fukk something up that you won't notice immediately and it will end up needing replacement before it should be scheduled again.
LeVraiPapi
Redemption is Coming
I did mine myself actually. It was easy to do. But then again I have the eBay one that I showed you.
Hiesenberg
Pro
Just got my property value info back and they are trying to kill me on taxes.
Got the house appraised when I bought it last February at 235K and now they are saying it has a 290K tax value
I disputed that obviously.
Once I get down around to owing 40K I'm going to remodel my garage and turn it into a master suite.
Got the house appraised when I bought it last February at 235K and now they are saying it has a 290K tax value
I disputed that obviously.
Once I get down around to owing 40K I'm going to remodel my garage and turn it into a master suite.
levitate
I love you, you know.
Think we may move into a condo once the kids are in college and home is payed off (18 years)
I kinda miss some of the "luxuries" of apartment living.
Edit: typos
I kinda miss some of the "luxuries" of apartment living.
Edit: typos
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levitate
I love you, you know.
It feels so good to pull into your attached garage.
DrunkenNovice
Superstar
Planning on resoding the front yard with st augustine this spring, also thinking of going with some type of shrubs around the bay window
Pulling out too, not having to defrost in the morning
It feels so good to pull into your attached garage.
Pulling out too, not having to defrost in the morning
Coming up on my 4th year in my first house. Recently got a promotion too so now I can actually begin to save so I can tackle some issues around my property.
Had a scare the other day - received an escrow letter from my lender talking about my mortgage would nearly double beginning may
.
Turns out it's because my insurance company terminated its contract with their parent company (or vice versa) back in December. I was aware, they pretty much told me i didnt need to do anything and a new company/policy would take over...which was cool... but I didnt pay attention to the insurance premium. Brehs, the premium went from ~$750 to $4,000!!
So within the past couple days I shopped around, found a new insurance company and signed up. Will be paying about $700 for insurance .
Moral of the story, pay attention and shop around for better rates. That goes for utilities too.
I'm sure that's common sense but that was my wake up call.
Had a scare the other day - received an escrow letter from my lender talking about my mortgage would nearly double beginning may
.Turns out it's because my insurance company terminated its contract with their parent company (or vice versa) back in December. I was aware, they pretty much told me i didnt need to do anything and a new company/policy would take over...which was cool... but I didnt pay attention to the insurance premium. Brehs, the premium went from ~$750 to $4,000!!
So within the past couple days I shopped around, found a new insurance company and signed up. Will be paying about $700 for insurance .
Moral of the story, pay attention and shop around for better rates. That goes for utilities too.
I'm sure that's common sense but that was my wake up call.