$369,000

3 Beds 1 Bath 1,614 Sq. Ft. Single-Family

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Madison St,
Merrick, NY 11566

Name: Madison St, Merrick, New York 11566 | Foreclosure.com
SKU: 55605931
Price: 369000 USD

Potential Profit

$57,100

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Status: Inactive

Listing ID: 55605931

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Property Information

Price: $369,000
Bedrooms: 3
Bathrooms: 1
Full Baths: 1
Living Area Size: 1,614
Basement: Yes
Total Square Feet: 1,614
Lot Size: 5000 sf
Style: Ranch
Year Built: 1928
Source ID: 3241987
Days On Site: 80
School District: Merrick
Property Type: Single Family Dwelling

Public Records

Baths: 1
Full Baths: 1
Rooms: 5
No. of Stories: 1
Air Conditioning: CENTRAL
Exterior Wall Type: FRAME
Heating Fuel: GAS
Heating Type: CENTRAL
Land Area Sqft: 5,001
Year Built: 1928
APN: 55-121---0356-0
Property Type: Single Family Residence
Township: TOWN OF HEMPSTEAD
Front Footage: 50
Depth Footage: 100
Living Sqft: 1,614
Style: RANCH
Sewer Type: PUBLIC
Water Type: PUBLIC

Foreclosure

Properties listed as foreclosures have passed the point of auction or public sale. Because the properties were not sold at auction, the lender is now the owner and is engaged in the process of marketing and selling them to potential buyers. The longer lenders own properties, however, the more eager they become to sell, often at reduced prices.

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Listing History

Start Date	End Date	Listing Type	Bank Name
08/23/20	10/02/20	Fixer Upper
07/04/20	07/23/20	Foreclosure
06/13/20	07/02/20	As-is Deal
02/22/20	03/04/20	Preforeclosure
02/12/20	03/03/20	Preforeclosure	THE BANK OF NEW YORK MELLON
02/05/20	03/04/20	Preforeclosure
01/30/20	03/03/20	Preforeclosure	The Bank Of New York Mellon
03/27/18	11/22/18	Preforeclosure	THE BANK OF NEW YORK MELLON
06/30/15	02/25/16	Preforeclosure	BANK OF NEW YORK MELLON
01/03/12	08/30/12	Preforeclosure	BANK OF NY AND MELLON (FKA)
01/03/12	08/30/12	Preforeclosure	BANK OF NEW YORK MELLON

Learning Center

First Steps to Buying a Foreclosure

Foreclosures often mean the original homeowner had some sort of setback that caused him to allow his lender to take the property. Rarely does a lender want to retain possession of real estate, so it will be motivated to move it off the books as quickly as possible. A fast turnover is what the lender is looking for, so a big part of the marketing plan might include pricing for a quick sale.

First Steps to Buying a Foreclosure

Steps as you search for your foreclosure property:

If foreclosure is complete, the property will be listed with a Realtor, in which case you can have an open line of communication about the property as well as the opportunity to inspect it.
Contact the listing broker and ask for an appointment to see it. Schedule a walk through. While in the area scout out the neighborhood to make certain the surrounding area suits your needs.
If foreclosure is not complete you may be able to get the information you need about the property either from the owner or the lender.
Consult with a professional real estate appraiser. Through their years of familiarity with the property and the neighborhood, appraisers and real estate professionals can supply background on property and neighborhoods. Get them to give you a ballpark estimate of the property value.
If the property needs repair work, have a recommended contractor give a detailed estimate of each job that must be done.
Decide on how much you are willing to pay for the property and stick with that price. Never get so caught up in a property that you do not make clear decisions. Successful bidding on foreclosed properties requires discipline and good information.
Sometimes foreclosures have title problems that have not been cleared up. Hire a closing attorney or title company to check the condition of the title to make certain there are no liens remaining after the foreclosure is complete. Have the title agent issue a title binder showing the conditions under which it will insure your interest in the title. Real estate tax liens and homeowner association liens have priority and need to be paid before clear title can be given.
Have the financing for the property in place before you enter into a firm contract with a good faith deposit, or have the contract be contingent on the financing you will need.

Foreclosed properties can represent excellent opportunities to acquire real estate at bargain prices. But in order to take full advantage of these opportunities you must have all your information and take an organized approach to finding and acquiring foreclosed properties. Find the location and property that interests you, work with the Realtor and closing agent to learn all you can about the property, and make your offer based upon good information and research.

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