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Reliable Sources For Foreclosures - 6/25/2008 12:33:58 AM
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Vachristian
Posts: 5
Joined: 4/29/2008
Status: offline
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I live in Virginia and am looking for good reliable sources
on forclosed homes and land and am wondering if any one
knows any reliable sources for listing these and where is the
best place to get them and are they trust worthy?I did a google
search and just am not sure and hoping some one can help.
Thanks so much for any help! Mike
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RE: Reliable Sources For Foreclosures - 6/25/2008 1:05:12 AM
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APZR
Posts: 737
Joined: 4/18/2005
From: GA
Status: offline
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To get some of the data I use to buy foreclosures, you have to be a broker. If you want a FHA or VA foreclosure, you have to go through a broker.
For buying on the steps, and I don't know your states foreclosure laws, in GA all foreclosures are advertised in the local news paper for 4 weeks before auction day, which is the first Tuesday of every month. But you are usually buying site unseen... or from the public roadway at best. When buying on the steps, I figure an extra $10,000 - $20,000 for repairs and stuff unseen/unknown.
_____________________________
Ya can't keep trouble from visitin, but you don't have to offer it a chair.
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RE: Reliable Sources For Foreclosures - 6/26/2008 9:54:45 AM
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GroupW
Posts: 1982
Joined: 11/16/2007
Status: online
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10-20K? I would have thought more. Not that the house would really need more - I just would have thought you'd build in a bigger cushion. How often do you run over that amount?
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RE: Reliable Sources For Foreclosures - 6/26/2008 5:00:58 PM
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APZR
Posts: 737
Joined: 4/18/2005
From: GA
Status: offline
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quote:
ORIGINAL: GroupW
10-20K? I would have thought more. Not that the house would really need more - I just would have thought you'd build in a bigger cushion. How often do you run over that amount?
Well, it does depend on the size of the house. Right now with the current economy, we aren't doing anything over a $200,000 house. So a 900SF or 1200 SF house doesn't take much $$ to fix it jam up. But I've also been doing this for over a decade, and can generally get my repair bids to within a grand or two. I usually only figure $5000 for overages. But when I can't get in them to see how bad it is, I automatically bump overages up to $10,000. If it looks really bad on the outside and I can't get it, I bump overages to $20,000. Now that is added on to the top of what I estimate for repairs for cushion... not the total cost of repairs.
_____________________________
Ya can't keep trouble from visitin, but you don't have to offer it a chair.
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