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Old 01-11-2008, 11:25 AM
 
Location: huntington beach California
82 posts, read 292,705 times
Reputation: 21

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We are close to putting an offer on a house. The one I am interested in is a foreclosure. How do they work? Can you talk them down at all? Also if anyone knows about the subdivision BARKERS BRANCH SEC 1 and the schools in that area?
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Old 01-11-2008, 12:13 PM
cla
 
898 posts, read 3,308,520 times
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Barker's Branch is zoned to Katy ISD but has a Houston address. Here are links to the school "report card" pages...

Katy ISD - MCHS

Katy ISD - MCJH

Katy ISD - SES
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Old 01-11-2008, 10:31 PM
 
Location: Spring, Texas
410 posts, read 1,682,510 times
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It depends on the type of foreclosure. If it's a HUD it a one shot deal, no counters. They work off a sealed bid process. The bids are turned in by the deadline, HUD reviews the offers and either excepts or continues to market the home until they receive an exceptable offer...they generally make no counters.

Banks will accept or offer a counter. Just realize it can take weeks, have patients! Not all foreclosures are a "good" deal, know the neighborhood comp's and understand what you are buying.
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Old 01-12-2008, 07:53 PM
 
Location: huntington beach California
82 posts, read 292,705 times
Reputation: 21
I know it's not a HUD. I have my Realtor looking into it now. It looks nice and was only lived in for 6 months. Now that it is finally time to by I'm nervous and want to make the right choice. Thank you for the advice.
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