I understand this posting was put up over 5 months ago however you never know right. Have you managed to take advantage of one of many foreclosures in the dfw area. I would love to hear your success story.
Keller Williams Realty
Real Estate Consultant
3x US Army Veteran
If you aren't under a short time constraint, have good credit, have a good competent Realtor and mortgage company you'll be fine.
One lender is not more difficult to work with on a foreclosed property than the other. You must have a letter showing you are pre-qualified for the amount of the loan. The banks will only consider offers with that Pre-Approval Letter. The qualifying credit score minimum is 640. You will need 3.5% done plus closing costs for an FHA loan or 5% down for conventional. It will take 45 -60 days to close generally in today's market depending on the lender you choose or whether you pay cash. Cash transactions of course take as little as two to three weeks. Some lenders can close in 30-45 days. It just depends on the lender the buyer chooses.
1. It is not difficult at all; and you can either pay cash or finance the transaction.
2. Once you find a property and you have an executed contract, most transactions close within 30-45 days.
3. Contact a local Real Estate Agent in the 76119 or 76112 area for a list of foreclosures.