I heard about a good auction at 777 Punchbowl. Do you know a useful website for current information about that? How did you get in?
For Sheriff’s Sales, foreclosures, tax sales and judicial sales as well as any other sales a county or state may have, you’re going to discover every county in every state/province/territory operates and does things a little differently than the one next to it – even when its in the same state or province.
It requires LOTS of time and diligence.
This is what I learned:
The best suggestions I can offer:
For the work which NEEDS to be done BEFORE the sale, there really isn’t any website.
1] Go to your county court house to the Sheriff’s Office. You might even be able to get the info you need on-line BUT there may be a charge for the on-line access.
2A] It doesn’t make any difference whether you live in a large city or a village/borough, make the investment of time to go to the County Court House or City Hall. Visit the Recorder of Deeds Office/County Clerk’s Office or whatever the office is referred. The names are different, but the Office’s function is the same: to record ALL REAL property documents.
The ladies and gentlemen in the City Hall or Court House are there to help the folks who come there to do business and take care of various matters about that city or county.
3A] Ask for the rules for Sheriff’s sales and foreclosures. AND ask for the information you need to participate and bid on property. Ask for a list or if they are hanging on the wall, grab one or two.
3B] JUST for practice you’ll need a specific, actual address – even if its your own, a friend or relative living in that same county or city. The property owner’s name would be very helpful. Ask an employee in that office how to research a property. Write down and/or remember each of the steps you are shown.
3C] After being shown what to do and how to do it, research the one or two properties you have at the Recorder of Deeds Office/County Clerk’s Office.
If you get stuck, ask for help.
4] If you are able to do the research, attend AT LEAST 3 of those Sheriff’s Sales. You aren’t going to bid on any property. You aren’t going to buy any property. You are there STRICTLY as an observer. You want to see how the process works.
5] At the sheriff’s sales and foreclosures, you’ll probably see the same faces at sale after sale.
Offer to take one of those folks to lunch or dinner and discuss your intentions.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!
If yes, what is a customary fee? I heard a lot about realtor fee’s and need to know about this question, before I get started.
No, in CA the realtor only gets their fee at after they close a sale, never before.
However, if you start a contract with one agent you can not switch. This one would be entitled to their commission still, and will get it. You would pay a second one out of pocket if you were to involve another agent.
Also keep in mind that your contract isn’t really with the agent, they work for a broker, the real holder of the contract.
If at any time you are not happy with your agent you can request he replace them with a different agent. You agreement is not effected in any way.
I only want to rent from a noteworthy realtor; like remax or century21. I need help on finding a good realtors. Thank you.
Some realtors deal in rental properties. Just call around and ask some of them. Also you can ask if they know any realtors that handle rent properties. Use the phone book to look for rental agencies, or try online.
A recent survey by ASSOCHAM had 90% of its respondents believe that the realty estate will revive within the next three months. What is your take on it?
Optimistic. i work in the field; I’m thinking Spring 10
I live in NC. Im not sure if that matters. Anyways, my friend is looking for a house and he has gone with someone who has just finished up their realestate classes and recieved their license. The realator calls my friend and tells him "Hey I got a number of a guy YOU need to call and talk to…I think he will give you a good rate." He has yet to help him even FIND a mortgage company. I dont think my friend knows where to start. he assumed and so did I that the agent was supposed to help with that. Am I wrong or should the agent be taking the personal information to find him a lendor or at least giving him a list or lenders to contact?
Thanks for all your kind answers!
First of all, I think I would rather work with someone more experienced, as buyers need considerably more expertise than a newbie can provide.
As for mortgage and closing that is up to the buyer. As part of my services, I generally give me clients some names and let them choose. They should talk with at least three lenders to see what different programs are available and of course rates. While I can make arrangement for closing, I always ask if they prefer one place over another. Most folks don’t know title companies like they do lenders.
Nowadays, some Realtors (depending on the client relationship) do not want to know the borrowers financial information. For example, if the borrower is purchasing a property the agent has listed (dual agency), then it’s best if the borrower keeps his financial information confidential. Since I am not a mortgage professional, I leave most of the qualifying up to the lender. I am happy to accompany the client to each lender, but it’s not necessary. If I’ve worked the area for awhile, I know most lenders. And in some places, each real estate company has their own loan divisions and/or title companies. Again, the buyer can select whom they want to work with.
If I can help further, just email me. Hugs from Minnesota!
anyone know of hunting webs sites that offer realestate listings .our house we have for sale MLS#98257859 is in prime hunting country in idaho . we like to get it listed with hunters in mind.
Look on www.kiethwarren.com which is a hunting website, there is a link to real estate listings.
I don’t have any money for down payments, my income is low, (about 3,500 per month), my credit score is low, and I’m in the process of selling my home in a short sale. I want to create this cash flow as a means of supplement income and then eventually my main source of income. Is this doable?
You may have to wait a bit, but don’t worry, housing prices will probably drop some more.
I suggest buying a rental unit and living in it. Your tenants can pay your mortgage-or at least most of it. Research the tenant-landlord laws in your area as well as financing options and prices of multi-unit homes.
Genie Birch, president of the Chicago Association of Realtors, talks to YoChicago.com about the challenges that Realtors faced in 2009 and how they can prepare for 2010. She also offers some advice for new Realtors who are trying to get a grasp on market conditions and their role in the home-buying and home-selling process.
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