Friday, January 25, 2013

Want to Buy A Foreclosure?

So you have decided to buy a foreclosure.

When you buy a foreclosure you have the opportunity to purchase a home typically for less than market value. However you also have to realize that there are some special challenges when you buy a foreclosure.
Typically when you buy a foreclosure, you will be paying closing costs that are normally paid by the seller. There are not any disclosures when you buy a foreclosure. You will want to have a thorough home inspection done to make sure that there are no structural or mechanical surprises. Appliances are not usually included when you buy a foreclosure so you will want to be prepared for that additional cost.
 And one of the biggest differences when you buy a foreclosure is your financing. Many lenders have strict time frames for closing on the transaction. It is critical that you and your Realtor have a good relationship with your loan officer.
Now for the good news about your decision to buy a foreclosure. When you buy a foreclosure you have a great opportunity to purchase more home for your money. This usually is a result of having to do some work when you buy a foreclosure. Another benefit is that many buyers today do not want to buy a foreclosure. Having to do work on a home is not something that they choose to do. This means you have less competition.
So what is the first step to buy a foreclosure? Find an agent who understands what is involved with the purchase of a foreclosure home. Be sure to ask your Realtor how many of their clients they helped to buy a foreclosure.
The second step is to talk with a lender. Because of the time constraints with some foreclosures, it is very important to have your financing arranged before you start looking.

Meet The Ultimate Team at
Keller Williams Realty Saratoga Springs
 








Doing Business Just A Little Bit Differently is more than our motto... it is the foundation of our business. Working in the communities where we live is important to us. We are committed to providing our clients - both buyers and sellers - the most professional service. It is our responsibility and our promise to our clients to be Real Estate experts.
We are experienced Realtors - having done countless transactions, we know how to get the job done right, the first time around. We promise to negotiate the best terms for you, with the least amount of stress and disruption to you and your family. Communication is key to a smooth transaction and we know that is the only professional way to do business. The Ultimate Team at Keller Williams Realty will work together with you to make the purchase or sale of your home a smooth and pleasant experience.
Carol and Kris live and work in the greater Glens Falls area. We know the real estate market is constantly changing, and it is critical to be knowledgeable about the communities in which we work. Whether you are thinking of buying, selling or investing in any Real Estate, let The Ultimate Team at Keller Williams Realty Saratoga Springs show you how we are doing business just a little bit differently.
 
Call us at 518-871-9404 or visit our website www.QueensburyAreaHomesForSale.com
 








   
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