What are the benefits or drawbacks to expanding my home search to include FSBOs and foreclosures?

Asked by Halley S., New York, NY Mon Apr 23, 2007

How does the buying process for foreclosures or FSBOs differ from homes sold by agents?

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Mike Lewis, Agent, San Diego, CA
Mon Nov 26, 2007
Halley,

Another Great Question!

You should look at everything that is for sale in the area you want to buy in. When looking at FSBO’s or For Sale by Owners you should always have an agent representing you, like eHomeConnect. Many time owners selling their own home don’t know what they’re doing and can cause lots of problems for you when buying. Foreclosures are a great source to buy homes at a discounted price. We can show you all the bank foreclosures as well as homes for sale in the MLS that are not foreclosures.

Foreclosures are different because all offers go to the bank and the bank will make a decision on what offer they will accept or counter. Foreclosures can take longer depending on who holds the loan. We have brought in many buyers on some great deals on foreclosures in San Diego and Chula Vista.

Visit our web site http://www.eHomeConnect.net and check out what is on the market for sale!!!

Mike Lewis eHomeConnect Agent
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Alan Shafran, Agent, Carlsbad, CA
Mon Apr 23, 2007
The single biggest drawback regarding searches for FSBO and foreclosure can be the lack of representation and guidance the home receives. Many time this can lead to improper pricing of the property and lack of critical disclosures. The buying process can be very dangerous with both FSBO and foreclosures if you are missing representation that will prevent you from making huge mistakes.
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