I'm looking to buy a foreclosed house, but I don't know where to start. What does this process entail?
I'm aiming for June 2016, and I have no credit (college student).
(0) | asked by: Desire Sydnor | share | 29 months ago | Report
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Most agents should be able to help you out with your search for foreclosed properties that are listed on the market. While the price of an available foreclosed home will be likely be reflected in the price, keep in mind that these properties often do not have utilities on so the problems are not as readily apparent. Due diligence of appraisal, home inspection, and possibly more detailed inspections (ie: other contaminants, environmental, meth, etc) are often recommended. An agent can help you out with coordinating with needed these parties, figuring out the true state of the property, communicate and negotiate with the selling parties on your behalf. There are other options as well to look for properties which are in distress while the homeowners are facing foreclosure. These times will often lead owners to sell at a distressed price. Feel free to contact me with any questions.
Hey Desire! How did your search turn out?! I'd love to hear!!
Please contact me, I will help you with the process.
Hi give me a call and I can help with locating distressed properties for sale in the Colorado Springs area. I have extensive knowledge in this area and would be happy to help.
Find a Realtor that really sells foreclosures. Not everyone has the experience nor contacts to make this type of transaction close. Yes anyone with a license or not can write on offer but you need to present yourself property or you will be overlooked by the banks that have foreclosures. You can approach consumers directly but again if you don't know what your doing you can end up getting sued for harassment and achieving nothing but wasted time which is what you will get with most Realtors. Interview a bunch and then call me. Craig Hindes Sunshine Real Estate 720-771-4934
answer by Sellstate Partners Realty | Visit My Website
Hello Desire, Try and identify a CDPE, Certified Distressed property expert in your local area. There are a tremendous amount of REO agents out in the market who receive these listings from banks every day. If you contact them and let them know what you are looking for, they will hopefully contact you once they get the listing.
Hi Desire, if you are interested in buying a foreclosed home, it's best to find an realtor that is an expert in that area that can guide you through the process. The designation that you would look for is-CDPE, Certified Distressed Property Expert. In addition, you will need to start working on financing and a realtor can refer you to a lender that matches your needs, depending on if you need down payment assistance, etc. Feel free to call me if you need additional help for Northern Colorado, my direct cell is 970-388-3692. Thanks, June Lemmings
Why do you want to buy a foreclosed home? (just curious). Most bank owned properties have issues, and they aren't necessary a better deal than a regular home. I'd be happy to walk you through the process. First, you'll need to work on your credit. You'll want a minimum of a 640 credit score, but the higher the better. Once you get your credit squared away (and get pre-approved for a mortgage), then you'll want to work with a great Realtor who can help you find the right property. Feel free to contact me directly. I'm based out of Longmont, and do a lot of business in northern Colorado.
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