REO's can be great buys but in most cases will need some repairs. If you're able to do the work, even better. Agents that specialize in distressed properties like a CDPE can also assist you with pre-foreclosures which are Short sales. Perhaps you might want to consider both. In any case, I can assist you with either one.
Just note with the REOs, you cannot always get mortgage financing from a traditional lender.
Congrats on making the decision to purchase your first home in 2013, I wish you much success in whatever route you choose to take.
As far as purchasing Foreclosures and Short Sales it should be understood that these can be some challenging homes to purchase. There are many things to know before pursuing these homes as an option. They can be quick and easy sales or very long and challenging, so besides doing your homework having a knowledgeable Realtor is almost essential.
If you have not selected a Realtor feel free to contact me anytime, I have worked closely with the largest REO Brokerage in the state and I am well versed in handling Short Sales.
BROKER/OWNER , CDPE, SFR
GoodBuy Homes NJ Realty
1811 Springfield Avenue Suite 2
Maplewood, NJ 07040
GO TEAM GREEN!!!
Reos can be a wonderful investment, but you are correct in your thinking that you need an experienced agent to work with when mapping out the purchase of your first home, you actually need a team behind you that understands the intricacies of this type of transaction.
I am a Licensed NJ Realtor since 1999, I cut my teeth as they say selling foreclosures and over the years I have successfully sold reos to both first time home owners and investors. I understand the nuances involved, the good and the bad; my market area includes West Orange. Feel free to contact me at 973-698-3308 to discuss your plans for the future.
West Orange is a fine area and the time to buy couldn't be anymore perfect.
Feel free to interview me.
Licensed Realtor in NJ and GA
This is THE best time to be buying. I would love to talk to you about what you are looking for in a home and what you are looking for in the lifestyle of the community.
Please contact me on my cell to chat
I look forward to hearing from you,
Robert C. Stern