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Deborah Deschamps' Blog

By Deborah Deschamps | Agent in 01095

Bank owned purchases are not all alike

I am currently representing two buyers in the purchase of bank-owned homes.   I recall telling the first party that this was going to be difficult.  "Steel yourself!", I said.  "You don't know what you're in for!"  And you know what?   I was right.  We're still struggling, and it's been incredibly frustrating, stressful, and difficult.    So when another client told me that she wanted to make an offer on a bank -owned property, I said, "Whoa! Are you sure?!?"  She was.  And she did.  And that has been a perfectly lovely transaction.  The first buyers are saying, "Yup; everything you said it would be."  Second client is looking at me like I have three heads.  The moral here?  (finally?)  Don't assume it will be awful - but know that it can be.
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