Forclosures

As I am searching for houses for my clients, more and more of the houses that pop up are foreclosures. This makes me really sad. When you go and look at the houses they are usually houses that children have lived in and I just wonder where they are going to live now. Anyway, enough of my sadness. The good news is...Buyers can get houses that are under market value if they are willing to put in a little time and money to fix them up. Typically with foreclosures the condition of the property is not that great. There are appliances to be updated, carpets to be replaced, but most of the stuff is usually cosmetic. If you are willing to do the work you can have yourself a great house for a lot cheaper than the house next door to you. The down sides of buying foreclosures are also present. Most of them are corporate owned and they are not willing to do any repairs. You are allowed to get an inspection done, but none of the items on the inspection list will be repaired. You normally have to have a preapproval letter or proof of funds with any offer. They take longer to respond to the offer than the typical seller does. Buying foreclosures is not for everyone, but it can be a great deal for some people. Email me or call if you interested in foreclosures.