1. Get pre-approved for your loan.
2. Find a great real estate consultant.
3. Look before you leap.
4. Be prepared.
5. Be reasonable.
Get your free copy of things to avoid when buying a home.
Feel free to call me.
Coldwell Banker United, REALTORS
5111 Bellaire Blvd, Bellaire, Texas 77401
It appears as if you're looking for a bank-owned property in order to grab a bargain in this very active real estate market. It doesn't work that way ... please read on.
Infomercials aside, it’s a myth that anyone can just come on down and pick up a foreclosure for pennies on the dollar. If it were that simple, we’d all be doing it. While they may be aggressively priced at first, the strategy is to attract attention and raise the stakes through a “bidding war.” Most foreclosures end up selling for more than the asking price and close to actual value. Nobody’s giving away houses in Houston these days.
Just about all of these places need major renovation, beyond cosmetic updates. Simply put, they’re best suited for investors with deep pockets. I work with several, and see firsthand what it takes to bring such homes to livable condition … it ain’t cheap.
The terms should suffice to drive all but seasoned buyers away … “as-is, where-is, with all faults.” Bottom line: it’s yours as it sits … although most contracts include an opportunity to inspect the property and void the transaction. These homes are usually in rough shape, so it’s imperative to have them checked thoroughly … from roof to slab, and everything in between. The cost is totally on the buyer and not reimbursable, whether or not the sale closes. The lienholder/seller will make no allowance for repairs … “as-is, where-is” sums it up.
Ironically, you can likely purchase a great home in better condition for about the same money … possibly less, given what it would cost to get most foreclosures into shape. It will be my pleasure to work with you toward finding that special place which best suits your family’s needs. There is no cost to you as a buyer. If I may be of assistance, please feel free to contact me. I look forward to hearing from you.
There are currently three listings in that area that fit your criteria. Please contact me asap to learn more urgent information about those three properties and schedule viewings.
The Professional Group Realty
Direct (281) 306-2841