[airics]

is there any way to look for bank owned props in a specific area.. (aliante)... i cannot believe that a bank owned came on the mls on friday, and the bank accepted the offer on sunday.. i missed out..

are there any sites that will let you search by area

[PinkString]

I use realtor.com and search by zip code when I'm looking for homes for someone. Not sure if they list bank owned one's though, unless they are the one's priced so darn low.

[airics]

what is the zip code for aliante

[kimba01]

I believe it is 89084. I was looking last night on Realtor.com and saw properties listed as Bank-owned/Foreclosed properties. I did the search using the zip.

[jjameson922]

Also, if I'm not mistaken, some banks owning property for sale, accept more than one offer. I've become pretty disenchanted with bank owned properties as I've been following quite a few of them and I've found in some cases in SC Anthem, the bank had the property listed as high, or higher, than individual sellers and then after taking multiple offers on it, the price was bid up so high, it no longer was that great of a deal. It seems to me that buying bank owned property there is much better for investors than owner-occupants. If an owner occupant is looking to buy and has a time frame, they don't have the lattitude of waiting until the bank's timeframe is complete of accepting offers nor the risk of buying "as is, where is."

[airics]

ive already bought bank owned and i think it is a much better deal.. however, i usually come in at about 10-20k over listing price depending on the area...and yes it is common for multiple offers on the homes... even at 20k over asking, i still didnt get the home at rhodes ranch went for 36k above listing which was still a very fair price....

[airics]

hey pink, you are in aliante correct? sun city i notice is age restricted, what is the ages?

[olecapt]

In general the hunting for bargains on bank owned requires an agent. Basically the MLS has facilities that enable one to review everything that occured in the last period of time...generally a day. The Admiral reviews a whole mess of things each morning for items of interest. One can for instance look for bank owned in Aliante, 2000 t0 2400 SF. If it appears a good deal you run out look at it and if called for you call the client and write the offer.

Note that too good a deal is often that. The bank or its agent is trying to start a bidding war. Classical tactic is to refuse any response for a week or more to the offers. The real ones will be at least at list. Then the lender counters all or ask for a best and final.

Note also that lenders don't always list at low prices. You have to know what the place is worth. There are dozens of bank owned sitting on the MLS that are priced to the comps or even higher. Sometimes lenders get dumb values from agents and then it sits there out of range for months.

I would not sweat the "as is". Get a good inspector. That will cover you almost as well as the conventional arrangement. If there is any doubt go to one of the high power engineering firms.

[coolricks]

Originally Posted by airics

is there any way to look for bank owned props in a specific area.. (aliante)... i cannot believe that a bank owned came on the mls on friday, and the bank accepted the offer on sunday.. i missed out..

are there any sites that will let you search by area

Have you tried Realtytrac? they give you like 7 days free trail and it is awsome, after I think they charge like 45 dlls monthly? but they show bank owned, auction and what not.

I live here in Aliante and so far my Family and I love it!!!!.
Everything is close to us: Wally world, Best purchase, Cost CO, a fruit farm and soon Station Casino.

Hope everything goes well for ya!!.

[PinkString]

Originally Posted by airics

hey pink, you are in aliante correct? sun city i notice is age restricted, what is the ages?

You have to be at least 55 to own in Sun city Aliante. So one of you has to be 55 and it doesn't matter for the other spouse. Kids are not accepted but can visit.