Not sure where you are with this process, however, I will provide you with my opinion and offer you my help and guidance through this unconventional real estate process.
First of all, not sure how experienced you are with the purchasing of real estate, however, unless you are prepared to put time and effort into buying foreclosed properties I would stay clear as they could truly be money pits. Additionally, as the market has been making improvements, some areas more so than others, lenders are not offering great discounts on these properties and, therefore, the real value in buying such properties is harder to find.
I am a CDPE (Certified Distress Property Expert) which as previously stated is the 'gold standard' for the handling of such properties.
With that said, if you need any further guidance, whether it be advice or help to navigate through this, most times, very convoluted transaction process please give me a call at 973.868.4034 or e-mail me at EmilVeltre@aol.com to set up some time to discuss further.
Have a GREAT day!
Emil Veltre, RPh, MS, CDPE
I would be happy to provide guidance though this complex type of sale.
CDPE (Certified Distressed Property Expert)
SFR (Short-Sale Specialist Certified)
CHBA (Certified Home Buyer Adviser from NAEA)
CSBA (Certified Home Seller Adviser from NAEA)
NAEA Member (National Association of Expert Advisers)
Residential Real Estate Expert Adviser
Lic. Realtor Associate
EXIT On The Hudson Realty
(888) 462-6573 / (888) HOB-NJRE
FAX (888) 462-6573
I've been helping First Time Buyers for 23 years as a mortgage professional and I will tell you what I have always told my clients here in New York: If you are a First Time Buyer, steer clear of foreclosures and short sales.
Foreclosures are someone else's headache. The home probably has not been well-maintained and you're a First Time Buyer adjusting to paying a mortgage. Do you really want to walk in the door to someone else's deferred maintenance that YOU will have to pay for? Also, if you're thinking there are deals to be had in terms of lower prices, mostly those "deals" go to professional investors who can pay cash, negotiate hard with a Lender, and close fast.
There are plenty of motivated Sellers with their homes listed on your local MLS. Go find a good Local Mortgage Banker, get prequalified, then find a great, experienced Realtor, and buy the home you want at the price you're willing to pay.
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