All Forum Posts by: Phil Z.

That might mean. subject to short sale approval.

Also, I hate the term 'low ball offer'. That sounds like you have no calculation for what you can pay and just fired off a number a lot lower than list for no good reason. You should be offering what you can pay and still make reasonable profit as an investment. If the property is grossly overpriced, and you offer a reasonable actual market price, then that is not a low ball offer if you can substaniate your number.

In CT, if there is no equity then there is no courthouse auction.

Also many banks only use auctions for occupied properties until they are vacant.

I wouldnt say waiting for the MLS would make them leftovers, but right now I'm seeing investors pay a premium after listed on the MLS. if its 2 weeks on market, its probably left overs, until it gets stale and the bank gets motivated to sell (about 5 months)

Leave a note on the door, or ask the locksmith.

It not usually recommended to try to contact the bank.  They dont have time to field buyer calls, thats what their agents are for.  You should try to find out who the listing agent will be.  Maybe leave a note on the door?

A foreclosure list is a waste of money. Just setup auto MLS email updates. However, pre-foreclosure lists can be useful, but youll probably need to spend money with direct mail.

I have worked with hedge funds that made huge profits buying occupied properties and evicting the prior owners.  There are risks, so I suggest you proceed only if you can easily afford the property all cash.  Its not something newbies should jump right into.

$35k is extremely rare for a condo, but I do see them occasional if they are small and apartment style.

You should have the tenant mow the lawn, but that will have to be noted in the lease.

I think it was a way to make it look like stacked houses instead of a shared house.  (Think vertical row house).   I would not suggest it today.

- HUD offers are submitted to www.hudhomestore.com by your Real Estate Agent.

- They collect offers and review them all on the Final Bid date.

- If none of the offers meet the asking price, they may accept, reject counter your offer.

- It is not an auction, and you will not see other bids.