It happens regularly.
A buyer is looking online for Cincinnati homes for sale.
They find a home listed as a foreclosure.
The home has a ridulously low price when compared to normal neighborhood values.
The buyer gets excited about getting the steal of all steals!
And it's all a lie.
The home isn't for sale. Not now, and not really ever.
True, there might have been a foreclosure proceeding. Maybe it was a tax sale, an HOA fee claim or the lender starting the foreclosure process, so the portals pick up the "foreclosure" posting and tell you the home will be going up for auction on X date. And the price posted will most likely be the minium price acceptable and not a true market value price.
But more often than not in our current market, the seller makes things right. They pay their taxes, their HOA fees or catch up their mortgage payment and the foreclosure process is stopped.
What doesn't happen so well? The information those portals scraped from the foreclosure notices doesn't get updated.
Six months later X home is still showing as a possible auction for STEEPLY DISCOUNTED PRICE.
Except that house isn't for sale today, and in reality, you never had a shot at getting that home anyway. The number of homes actually being foreclosed and sold at auction are actually very low. Currently on the schedule for ALL of Warren County in December is 12, and it's still not too late for some of them to redeem and avoid the sheriff's sale.
Your best bet as a buyer is to partner with a real estate agent. They can help you navigate whether a home is really for sale, or just another Internet lie.
Interested in knowing more? The answers are easy to get, just call me at 513-520-5305 for a chat. Like what you hear, we can meet in person and get even more detailed about determining the best path to take care of your future home needs!
We look forward to hearing from you!
Serving Greater Cincinnati home buyers and sellers,
Bill of Liz and Bill aka BLiz
Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747
William (Bill) Spear, CRS, Ohio License SAL.2004011109 Kentucky 77938
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Bill Direct: 513-520-5305
Liz Direct: 513-265-3004
Search Homes: Http://WarrenCountyOhioRealEstate.com
Our Website: www.LizTour.com
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