Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
You should use a realtor to help you make your decision on either type of home. They can give you a CMA or Comparative Market Analysis so you can assess the value of either home. It really boils down to understanding the differences and what you are willing to accept. Thank you for allowing the realtor community to answer your questions..
Providing Solutions Because...Your Move Matters!
Michael L. Brownstead, GRI, ABR
Keller Williams Realty
1002 Raintree Cir., Ste. 100
Allen, TX 75013
Often foreclosures need some work....so are you willing to buy ugly and put some work in, so that you can get a discount?
Not all foreclosures are ugly, but if you want a discount, those are typical....the uglier the house normally the bigger the discount.
We normally suggest you look at all homes on the market in your price range that fit your needs. That includes regular sales, bank owned homes, and foreclosures.
If you buy a foreclosed home with clean title and no liens on it, no title exeptions, and below the market - it is more than ok, it is great!
Just watch out for bidding wars and other things I mentioned above that might come with
Hope this helps,
Beachfront Realty, Inc.
When you buy from an individual, the seller is required to make disclosure of the property conditions plus some other information. You can also inspect the property and negotiate with the seller, similar to the bank situation. After you proceed with the purchase, you have to negotiate possession, as opposed to getting immediate possession of a foreclosure. You truly should get title insurance or at least get an interpretation of a title search to protect you from possible future claims, as opposed to being assured that they're already cleared off.
The big attraction is always the price. Usually, foreclosures go at distressed prices. As long as you're aware of the circumstances and can deal with potential repairs, foreclosures can make a lot of sense.
Some people think they are great deals....some are.
Some people would never look at one...
Each person has their own idea.
Sometimes they take a little patience and sometimes need some work. If you are handy and have time, they can be great deals.
Best way to find out if they are for you is to take a look at a few and see if you like what you find.
I'd be happy to talk to you about it. We can help you with bank owned homes, foreclosures, REOs, and regular sales too.
Keller Williams Realty
Bank owned homes for sale are diminishing as banks are encouraging short sales to prevent foreclosures. Foreclosed homes typically sold as is and banks may not make repairs. Some financing such as FHA and VA financing will require the home to meet an acceptable condition. The appraisers can call items to be repaired before the buyer's loan can be funded and the sale can be closed. Your real estate agent can advise you on which homes should qualify for your financing.
Prudential California Realty
Yes, it's ok, sometimes you can get a good bargain. One thing that you need to keep in mind is that you'll need to do your own repair so you have to make sure the home is priced well so the additional repair is not going to make the home value higher than it should. There will be an auction conducted by my broker soon, let me know if you are interested.
Susie Kay, RealtorÂ®
GRI, CHMS, SFR
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
Servicing your real estate need is my priority!
Coldwell Banker Jane Henry, Realtors
Accredited Buyers Representative
Some foreclosures have been really good buys for my clients without having to invest a lot of money for repairs. It really depends on what your personal requirements are and what your financial limitations will be for repairs.
There are not as many foreclosures on the market now and the ones that are in pretty good shape sell with multiple offers within a few days. It very important that you work with a real estate agent and get daily reports when new foreclosures hit the market.
I have access to data that gives me information on foreclosures before they hit the market so I can have my investors and my clients ready to view and make an offer on the first day.
If you would like help from an experienced agent I would love to work with you. Please email me or text me or call and we can talk about the home you are looking to buy.
Ebby Halliday Realtors
What are some of your concerns about purchasing a foreclosure home? For many of our previous clients, they have purchased a foreclosure, and have been very happy.
We've also had clients who didn't want to get a foreclosure, and eliminated them straight away.