Quote:
Originally Posted by Finner
200 - 400 ? How does one make an offer on foreclosed properties? Just get a realtor?
|
Well as a buyer it costs you nothing to hire a realtor and in many cases you might get some "perks" out of it.
Basically the process is as follows...
-See the property
-Write the offer, foreclosures also have a schedule a which is a document from the bank basically stating there are no warranties or representations as a typical sale.
-Wait... most deals you negotiate the same day you submit the offer. With a foreclosure it can sometimes take the bank a few weeks to get back to you. If the bank counters then they are typically able to do the negotiations from this point on all within a few days.
The purchase of a foreclosure is very similar to any purchase. Some of the biggest differences are the wait to have the offer accepted and having no warranty or representations (the bank doesnt know if there is something wrong with the property and does not care).
If you are interested in something send me a PM...I just finished working on one and guided handled everything from start to finish. All the client had to worry about was finding a place he liked.