FORECLOSURE BUYING TIPS !!!

Do you know most banks must counter all offers at least once??!!

When looking to buy bank foreclosures, look for price reductions toward the end of the month

Check out the "Search Foreclosures" link on my Website!!

The real estate market today is more of a buyers market, meaning sellers are more flexible to the needs and desires of buyers because there are many sellers or homeowners trying to sell their properties.

The lending crises or "credit crunch" has increased the number of bank foreclosure properties on the market as well . . . so this is a fantastic time to buy real estate!

Interest rates are low which increases your buying power!!

Real estate agents can help buyers by:

• Providing customized real estate listings versus online random searching
• Providing comparative market analysis of properties you are interested in
• Negotiating offers to the sellers
• Referral to lenders for a mortgage loan
• Supporting buyers to the closing table
• Remaining a trusted resource for real estate needs

As a Real Estate Owned Specialist, I can provide the following additional services:

Provide up-to-date listings of bank foreclosure properties

Provide broker price opinion of a foreclosure property repaired market price

Provide tips on purchasing bank foreclosures

I have listings of properties that are not on the market

I have contacts for property preservation and repairs

Bank foreclosure properties are mostly sold in as in condition, meaning the buyer may have to rehab the property or make cosmetic updates such as painting or floor refinishing.Some banks however do repair foreclosure properties. The repairs are typically nominal and the property may not have needed too many repairs in order to bring it up to market value. Bank foreclosure properties typically do not provide a survey or owners disclosures.Disclosures are not provided because the owner, in this case the bank, did not live in the property. It is best to have real estate properties professionally inspected.

The one major benefit of buying a real estate owned or bank foreclosure property are title issues are resolved by the bank (the owner). Liens incurred prior to the sale to the bank have been resolved. Also, please be patience when waiting for a response when you make an offer. Remember we are dealing with an institution where there are many people who must review your offer.

Thanks for visiting my website and please bookmark it for future reference.