 FORECLOSED
HOMES ARE USUALLY PRICED TO SELL.
Most foreclosed homes are priced at fair market value. However,
VA and HUD homes are often priced below area comparables. Furthermore,
you may, through the bid process, be able to purchase a home
below market value if you shop carefully and use an experienced
agent to help. We can help. We can also help you by giving you
the comparable pricing information for the community to help
you make a good pricing decision when you prepare your bid.
You will need to get pre-qualified before making a bid and we
will help. We work with lenders who are familiar with the procedures
and will prepare the pre-qualification document before you begin
your home search. There is no fee for this service. It is of
utmost importance to become pre-qualified or better yet pre-approved;
as most lenders will not even entertain offers without proof
of lender qualification.
 YOU
CAN BUY A FORECLOSURE HOME.
Anyone with the cash or ability to obtain a mortgage loan can
buy a foreclosed home. You will have to qualify for the mortgage
as with any home purchase, but we'll help you with the financing,
too. Often, the cash needed to buy a foreclosure is less than
you would need to buy a home offered for sale by a non-foreclosure
homeowner. |
FORECLOSED
HOMES CAN BE A BARGAIN!
HUD homes are sold "as is"
and HUD does not make repairs or offer warranties. However,
the HUD homes are usually the best
priced and offer the best value. If you are willing
to invest some 'elbow grease' in your home, you can get a good
buy and make repairs and redecorate to make the foreclosed property
a real home. Many will need cleaning up or cosmetic upgrading,
but generally your home will be worth a lot more than you paid
for it when you have put your decorating touches to work. VA
will make some repairs and VA foreclosures are generally in
better condition than HUD homes. Institutional lenders evaluate
the homes on their individual merits and will determine if the
home will be sold "as is" or repaired. Institutional
lenders tend to be less rigid and may be negotiable on repairs.
 WE'LL
PREPARE ALL OF THE PAPERWORK.
We will prepare the bid and all of the contract paperwork for
you if you select to bid on a foreclosure. Often the details
of closing help and terms and conditions are as important to
a seller as the price. We'll consider all of these needs when
we prepare your offer. |
