Buying A Foreclosure

ForeclosuresWhat You Should Know About Buying Distressed Properties.

With over 17 years of experience  handling the fine details to close these types of transactions, we are fully aware of all banks demands and requirements. It takes patience and waiting time on the buyer side for the transaction to be completed. Often they do not close on time and require additional paperwork and different terms than a traditional seller.  We will provide advice and knowledge during the process.

When purchasing a foreclosure or short sales property, cash is preferred. I have personally seen conventional loans at a higher sales price be declined and the bank will take a lower cash offer.  So, I suggest for the best deal, it maybe best to obtain a line of credit and then finance it after closing and to pay off that line of credit.  (I am not a lender, nor attorney, nor a tax accountant, I am describing my years of experience in distressed property sales.)

Some foreclosed properties are also in rough condition. Some have sat vacant up to to 3 years with minimal or no maintenance. It is important to have it inspected. An inspector will assess the structure’s soundness and may uncover problems that would be very costly to repair. Banks sell foreclosed and short sale homes in “As-Is Condition” meaning they won’t make any allowances for repairs.

You can get deep discounts on short sales and foreclosures. Annually, we have help over 75 clients purchase investment and personal homes at discounted prices. We know how to present offers to the banks and know how to wait patiently for responses. Time is a large factor in obtaining lower prices, so we’d  love to help you purchase a  GREAT DEAL on your next house, land or commercial properties at REDUCED prices

Would you like our full time investment buyer specialist to contact you the minute Premier, Realtors list a distressed property?  CLICK HERE