https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Tue, 05 May 2026 19:09:19 +0000 https://boards.hellobee.com/topic/anyone-ever-purchased-a-foreclosure#post-209937 Tue, 03 Jul 2012 11:19:11 +0000 Boogs 209937@https://boards.hellobee.com/ <p>Our house was a short sale, so a bit different than a foreclosure. From my understanding the banks pull that stuff with the prices to get more interest. </p> https://boards.hellobee.com/topic/anyone-ever-purchased-a-foreclosure#post-209849 Tue, 03 Jul 2012 10:25:41 +0000 MrsTiz 209849@https://boards.hellobee.com/ <p>@BabyBoecksMom: Thats what DH thinks too, he's trying to get more comish. but honestly what is the diffrence in 10k for him lol </p> https://boards.hellobee.com/topic/anyone-ever-purchased-a-foreclosure#post-209848 Tue, 03 Jul 2012 10:24:31 +0000 MrsTiz 209848@https://boards.hellobee.com/ <p>@sweetchic: Well it was originally sold to the couple that it got foreclosed on at 134k (5 years ago)<br /> they first listed it for sale at 145k- it did not sell.(was on market 2 months)<br /> forclosed, it went onto market at 120k,<br /> then dropped to 112k, and then onto 107,9k</p> <p>Somewhere in between the 120 and 112 they got an offer above 107-we don't know exactly how much, and it was not accepted. This was in May, it's 2nd month on the market. They then dropped it to the 107,9k last week and we're not sure what to offer now. Obviously they weren't willing to wiggle that much, so we're not sure. Our Realtor is saying to offer around 105 with us paying closing costs. That just seems like we're not getting anything off of the price since it will take about 6-7k from the time we get the keys until we can move in to fix carpets and get appliances &amp; possibly a new HVAC. </p> <p>Sorry if I confused anyone! </p> https://boards.hellobee.com/topic/anyone-ever-purchased-a-foreclosure#post-209842 Tue, 03 Jul 2012 10:21:53 +0000 MsMamaBear 209842@https://boards.hellobee.com/ <p>Yes, mine was a foreclosure. The lady bought it in 2007 (brand new) foreclosed on it in 2008. A company bought it and renovated it and then I bought it. I guess it's not the same since I didn't buy from a bank, but it was a foreclosure. </p> https://boards.hellobee.com/topic/anyone-ever-purchased-a-foreclosure#post-209837 Tue, 03 Jul 2012 10:17:51 +0000 BabyBoecksMom 209837@https://boards.hellobee.com/ <p>Our house was a foreclosure. It sat on the market for a year before we made the offer on it. It was only a few years old, and it was in great shape (the previous owners didn't tear it up before they left - yay!). It did take a while to hear back from the bank (a month), but it was well worth it. We ended up with an almost brand-new house for about 20% less than market value.</p> <p>I would say to go for it if you really love the house. But be prepared to walk away or fix any problems yourself that the inspection finds. Also know that it could take a while to hear back from the bank, so be prepared to wait a little while. </p> <p>I would go under what the list price is. What's the worst they can say? No? Then you can go back with another offer if you really want to. I don't know anything about your realtor, but it sounds like they're wanting to push you to go higher because it increases their profit.... that may not be the case, but that's the first thing that went in my head. </p> <p>Good luck! </p> https://boards.hellobee.com/topic/anyone-ever-purchased-a-foreclosure#post-209812 Tue, 03 Jul 2012 10:03:07 +0000 MrsBrewer 209812@https://boards.hellobee.com/ <p>We originally started looking at foreclosures, but one thing that turned us away from them was that the close process could go as quickly as a month, or it could drag out to almost a year, it's all dependant on the bank. So we decided against looking at foreclosures. I don't like uncertainty. </p> https://boards.hellobee.com/topic/anyone-ever-purchased-a-foreclosure#post-209805 Tue, 03 Jul 2012 09:57:32 +0000 MamaMoose 209805@https://boards.hellobee.com/ <p>I've never actually bought a foreclosure but have researched the process a bit. One of the problems with a foreclosure is that often there is no negotiating process. You sort of get a one time shot with the bank to make an offer and they take it or leave it. So if you will be devestated if you don't get this house, then yes, I would go ahead and make an offer pretty close to asking if not at asking price. If you won't be super upset to lose it, make a low offer and try your luck. Just be sure you have an iron clad contingency in the offer that the sale is dependant on a satisfactory (as determined by you) inspection. Because foreclosures are sold as is so even if you find issues with the home, the bank won't fix them... so you want to be able to walk away without harm if the inspection uncovers serious problems. </p> https://boards.hellobee.com/topic/anyone-ever-purchased-a-foreclosure#post-209801 Tue, 03 Jul 2012 09:56:07 +0000 Meridian 209801@https://boards.hellobee.com/ <p>Our condo was a foreclosure! There ended up being 3 offers on it right around the same time, so the bank told all 3 parties to give their best and final offer. Our bid was $6K over the asking price (which was already a good deal, so I was ok giving a bit more in hopes of getting it) and was accepted. </p> <p>That sounds odd that they didn't accept the offer that was $5K over the asking price, but perhaps there were other issues that weren't acceptable to them, besides the price... </p> <p>Good luck! It's kind of a scary process because the bank can be super slow and they can take as long as they want. Luckily we were able to close within 5 weeks of seeing the condo and making the offer, but I heard that is pretty quick for a foreclosure. </p> https://boards.hellobee.com/topic/anyone-ever-purchased-a-foreclosure#post-209684 Tue, 03 Jul 2012 09:01:27 +0000 MrsTiz 209684@https://boards.hellobee.com/ <p>DH and I have been looking for houses, and we found one that we LOVE. Problem is that it's a foreclosure, which usually means you can get a deal on them, but I just don't feel like we're going to get such a deal on it. It's only been for sale 76 days &amp; they've lowered the price 3 times- but before they lowered it the last time someone offered them MORE than the price they recently lowered it to, and they didn't accept, and the bank only lowered it 5k the last time. </p> <p>Has anyone else had any experience buying a foreclosure, or selling one (Real Estate bee's)? </p> <p>Our realtor doesn't seem very excited to offer them a "low" offer, and is actually pushing for us to offer verrry close to the asking price- which to me is crazy for a foreclosure. Am I wrong? I'm just confused with all of it. </p>