Purchasing foreclosure is drama not due to listing/ buyer agents banks are extremely slow.

Many foreclosures are distressed properties do you have disposal cash many of required repairs, updating and etc. ?

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Lynn911

Buy,

Purchasing a foreclosed property is essentially the same process as a normal purchase with the exception of dealing with the bank as the owner and using their specific paperwork and timelines.

The "early bird gets the worm" can prevail for those opportunities that are most desirable. For this reason it is advisable for individuals persuing "foreclosures" to be pre-approved for funding or a proof of funds letter to be able to respond without consuming a large amount of time.

Good luck
The Eckler Team

Hi, Buy in Newtown,

A Foreclosure is easy..........the bank already owns the house and will make the deal with you. You will have a Buyer Agent, they will have a Seller Agent. Just remember.......it is "as seen, and as is". Few lenders will make repairs for you.

I am closing one of these today. The hardest part has been to get the company that services the listing to remove padlocks, etc. Otherwise, it's just like any other transaction and they allowed the buyer to make the necessary repairs to satisfy FHA prior to closing. If you would like to check out home prices and activity in Newtown get over to http://www.carolworks4you.com and get a free "market snapshot" sent directly to your email.

Let me know if you would like to discuss this further!

Carol Murray Cei
ReMax Millennium
carolcei@remax.net
215-649-1720

Some owners try to sell their home before foreclosure proceedings. This usually turns out as a short sale because the balance of the loan outweighs the proceeds from the sale. You can get into these homes from any Realtor. The process is a bit lengthy because the bank needs to approve of the sale.

If the homeowners just can't or won't try to work things out, then the lender petitions the court and the property goes to sheriff sale. If the property actually makes it to the sale, buyers can bid on and purchase these foreclosures at that time. The problem with this is that you need to think that you will have to redo everything inside the home. At least cosmetically. So you would need a Realtors advice if you have any properties in mind.

If no one wins the property, the bank "buys" it back and tries to sell it. And this usually means it gets listed through a real estate broker. Back to the Realtor to look for bank owned properties. And, as with the short sales, the process is pretty long because the bank approves the sale.

The next sheriff sale in Bucks County will be on August 14th. I suggest getting there at least 20 minutes before the start time of 11AM. The line forms quickly and the house is packed before you know. The site is: http://www.buckscounty.org/government/rowofficers/sheriff/Sh…
scroll to the bottom of the page for the dates.

Hope that helps,

Terrence Charest, e-Pro®
REALTOR®
Century 21 Associates
905 Easton Road
Willow Grove, PA 19090
Cell (Preferred): 877.614.1494
Office: 215.659.5250
Fax: 215.659.5550
http://www.HomesForFreedom.com
tcharest@HomesForFreedom.com
“Giving to Those Who Gave”

Thats my job. I specialize in pre forclosures and REO. Will this be a cash deal or do you require a mortgage?
Are you buying an as is home? Are you a first time homebuyer?I will need more information from you
Jen Buschel
JenBuschel@gmail.com
office 215-584-0769