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I have a client who wants to put a bid on a foreclosure that is listed on Realtytrac's website. He wants me to bid on it for him. Has anyone done this before?

I've been on their site & found the property, but you have to register a credit card to log in and then I suppose you can bid.

I done HUD-foreclosed homes but not this way. Is it legit? Anyone have any advice?

My inclination is to tell the buyer to log in himself and do it...  not sure.

 
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9 Comments on Anyone Use Realtytrac to buy a foreclosure?

RealtyTrac- Hi, Erica, that only gives you the contact information the nyou have to proceed as you would it any other transaction making an offer with a loan aproval.

Brian

07/10/2008 11:45 AM by Premiere Mortgage Professionals


Brian--so if I have the owner's name and the house info already, I can bid on it elsewhere? I don't need Realtytrac?

07/10/2008 12:04 PM by Erica Ramus - Realty Executives Schuylkill - 570.622.6006


Erica - I get emails from Realtytrac somewhat regularly.  Must of subscribed to it years back when I was playing around the internet:-)  I've let some folks know about it but I'm not sure what you should do in this particular case.  Let me know how it plays out.

07/10/2008 02:18 PM by Jason Sardi, Pennsylvania Mortgage Broker (First Choice Equity Group Inc.)


Stay away!  Realtytrac has a reputation for having false information, who values of what it is for sale wrong information when it is not even in the market anymore.  The purpose of the site it really to get leads to agents who pay to receive them.  I would education my buyer and let him know this is not in your field of work to do.  Hope this helps!

07/10/2008 03:34 PM by Jacinta Lujan (Georgia Elite Realty)


Erica - I hope someone has the answer, I have not use the service.

07/10/2008 09:54 PM by Jennifer Fivelsdal, Rhinebeck NY (Keller Williams Realty)


I looked into Realtytrac a few weeks ago for a client and they were putting out information on folks who were still a long way from foreclosure.  If you know the address, check the tax record to see who the actual owner is.

 

Bob Mitchell

ValueList Real Estate Services, Inc.

07/11/2008 08:48 PM by ValueList Real Estate Services, Inc.


In my experience Realtytrac does not give correct information. 

07/13/2008 06:48 PM by Adele Irving - Easton Area Homes (Prudential Patt, White Real Estate)


Erica -- Realty Trak has 3 kinds of information:

Properties that have been sold and closed - their site clean up stinks

Properties presently for sale - usually marked REO

Properties in default that may or not ever go through the foreclosure process.

Save you money. Make a few phone calls and check your MLS. There a probably just a few people that list REO properties in your county. Ask them to put you on their email blast list when they list a new property.

A friend of my from Lebanon has 2 Pine Grove houses in pre-list so many of the listing agents may be from Lebanon, Reading or even Harrisburg. I don't list in Schulkill County because of the added expense of a separate MLS, but I do list REO in Lebanon, Dauphin, Perry, Cumberland, York and Lancaster counties.

07/19/2008 10:02 AM by Innovations Realty Inc


Thanks to everyone who replied. I'm not going near this one. My buyer wanted me to join and enter my credit card because he though it was my job, I think. I told him i fhe wanted to use this site, he could do it, but I wouldn't sign up.

I rarely work with foreclosures.

07/19/2008 10:30 AM by Erica Ramus - Realty Executives Schuylkill - 570.622.6006


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Real Estate Brokerage: Erica Ramus - Realty Executives Schuylkill - 570.622.6006
Erica Ramus-Broker/Owner
Pottsville, PA
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Erica Ramus - Realty Executives Schuylkill - 570.622.6006

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