There are just so many things you need to be aware of when dealing with forclosoures.
I say this because I have been dealing with bank properties for almost 11 years now. I deal directely with banks so I know how to deal with them.
First off, if you are serious about buying a foreclosure, you need to align yourself with an aggressive buyer agent who knows how to work with foreclosures and banks. You can't hire an agent who is afraid of negotiating or of confrontation. Banks are not people and they do not have emotions. They want what they want but heres the thing, you do not have to give it to them.
Banks want everything today but then get back to you whenever they are ready. You can negotiate with banks. Many Realtors will advise their clients to do whatever the bank wants and that is simply not what you want to do.
Also, have you ever been inside a forclosure property? I ask this because many of my clients started out wanting a foreclosure and when I took them to view one, they were disgusted by it. In many instances, the home has been destroyed and its filled with mold, holes, termite damage and some other issues I will not get into here.
I have a few questions for you though if you do not mind? Have you spoken with a lender as of yet? Do you have money for a down payment,closing costs and do you know what your credit score is? Those are some very important questions and the first place to start.
Banks will want you to verify your funds to make sure you have money to purchase the home.
Feel free to read my blog. I have written about bank properties and you may find it helpful. http://www.reneeporsia.com
I would love to speak with you further so please feel free to email me or give me a call at (215) 669-0589.
RE/MAX ACTION REALTY
(215) 669-0589 Direct
(215) 358-1100 Office Ask for Renee