We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Veterans of America Foreclosure

My girlfriend and I are looking at a house that is currently foreclosed with Veterans of America. The house is listed as 147,000. I know someone who was going to buy the house and VA was firm on their price. Is anyone familiar with Veterans of America and their pricing structure for foreclosed homes? I understand that they would not want to lose money on the foreclosure, but i know they would also like to sell it. What would be realistic price wise?

House description:
4 bedrooms/2 baths
1900 sq/ft with 2 car garage
fenced yard with patio
built in 2008
nice neighborhood

Thank you for your help.

Stephen
:beer:

Comments

  • Isn't there a halt on foreclosures in america? Forgive me for not knowing the full details but there is a serious problem whereby those who have bought foreclosed properties may not actually OWN them.

    I would steer away from america based on this information alone.

    Read further here:
    http://www.telegraph.co.uk/finance/economics/8057514/US-housing-market-faces-new-threat-from-foreclosure-row.html
  • DVardysShadow
    DVardysShadow Posts: 18,949 Forumite
    Loopgames wrote: »
    ... I would steer away from america based on this information alone.

    OP looks like he is well into playing in the role of an American, so it may not be appropriate to discourage him from buying property there. See below:
    selms501 wrote: »
    .... nice neighborhood

    Selms, you are very welcome here, but please understand that most of us are well into playing in the role of British people, which involves almost total ignorance about the American property market and idiosyncratic non standard spellings of American words - eg we write neighbourhood.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • OP, do you live in America, or are you a Brit looking to move over there? This is a British-based forum so you may not get the info you need.

    If you are based in the UK, before buying any property you need to consider whether you would get a visa to live and work in the USA - which is very difficult. Also bear in mind any credit history you have in the UK does not transfer to the US, so you may not even be able to get a mortgage over there for 2 or more years.

    If you are already in the US, are you working with a realtor? If so, they should be able to give you guidance on buying a foreclosure.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.2K Work, Benefits & Business
  • 600.8K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.