The Ultimate Guide To Finding and Buying Foreclosed Properties

The Ultimate Guide To Finding and Buying Foreclosed Properties   Sharing three things you need to consider when buying a foreclosed home. One way for homebuyers to find a great deal on a property is by purchasing a foreclosed home. This is a home that has been repossessed by the bank or a lender after the owner failed to make mortgage payments. According to real estate data curator ATTOM, although still below pandemic levels, the number of foreclosed homes has increased from February 2022 to February 2023, so now is a great time to consider this option.  However, buying a foreclosure can be a complex process and sometimes more difficult than buying a traditional listing. To help you secure a great deal in today’s market, consider these three important points when searching for and buying a foreclosure: 1. Hire an experienced real estate agent. By partnering with an experienced agent who specializes in foreclosures, you can gain access to listings that may not be available to the general public. They can also provide insight into the local market, help you understand the risks and benefits of purchasing a foreclosure, and walk you through the legal requirements and paperwork involved. Plus, they can negotiate on your behalf and help you secure the best possible deal. “Buyers can find a great deal on a foreclosure property and potentially turn it into a profitable investment.” 2. Research and identify foreclosed homes. This may involve looking at properties in different neighborhoods and considering homes in different stages of foreclosure. Your agent will be your best resource for finding foreclosed homes, but you may want to investigate yourself. Most of the time, these listings can be found on real estate or government websites. You can also check with local banks and lenders that may have foreclosed properties they are trying to sell. 3. Inspect the home thoroughly. Foreclosed homes are usually sold as-is, which means that the seller is not responsible for any repairs or issues with the property. To avoid any unpleasant surprises, have a professional home inspector take a look at the property before you make an offer. If the inspector finds any issues, you can use this information to negotiate a lower price or to decide whether or not to move forward with the purchase. With careful planning and research, buyers can find a great deal on a foreclosed property and potentially turn it into a profitable investment. If you need any help buying one, call or email me anytime. I’d be happy to help you!   Written by Ruby Miranda on July 28, 2023. Posted in Buyer Tips, UncategorizedTags: bank-owned properties, buying a foreclosure, short sale. Trackback your site. Leave a Reply  

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3 Easy Tips To Sell Your Home Fast

3 Easy Tips To Sell Your Home Fast   Here are three tips to help you sell your home as soon as possible. Do you need to sell your house as soon as possible? Maybe you need to relocate for a new job soon, or perhaps you just don’t want to draw out the hassle of a home sale. Whatever your reason is, you don’t need to worry. I have tons of experience helping homeowners sell their properties quickly. Here are three things I’ve learned that will help you sell as soon as possible without sacrificing your final sales price: 1. Prepare your home before putting it on the market. The better your home looks, the more interest you’ll generate. Clean, declutter, and depersonalize before listing your home. That means you’ll need to put away your family photos and pack everything into boxes. I also recommend hiring a professional cleaner. They’ll be able to do the job faster and better than even the most motivated amateur. Once your home is in tip-top shape, buyers will be more likely to put in good offers sooner. “If you offer the right incentives, many buyers will be willing to close quickly, even at a higher price.” 2. Take care of any small repairs upfront. One of the most common issues that stalls a home sale is negotiations over minor repairs. If you want to avoid a drawn-out conversation with your buyer and their agent, take care of any issues before you list your house. Faulty light sockets, old door handles, and other minor problems should be addressed upfront. This way, the inspection and negotiation period can go as smoothly as possible. 3. Offer incentives to buyers. If you want to sell fast while maintaining a high asking price, incentives are a great strategy to do it. Consider offering to pay your buyer’s closing costs, giving a repair credit, or including necessary appliances. Another popular incentive you can offer is a 2-1 buydown. This loan product reduces your buyer’s interest rate for the first two years of their loan for an upfront cost. If you offer the right incentives, many buyers will be willing to close quickly, even at a higher price.  A good agent should be able to help you implement these selling strategies and more to secure a quick sale. If you have questions about these points or anything else, just call or email me. I am always happy to help!   Written by Ruby Miranda on June 30, 2023. Posted in Sell Your HomeTags: rushed home sale, tips for home sellers, tips to sell quickly Trackback from your site. Leave a Reply

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Pricing Your Home Right the First Time: 3 Tips

Pricing Your Home Right the First Time: 3 Tips   Getting the right price for your home comes down to these three tips. The real estate market is an ever-changing thing. One day, prices are up, and the very next day, everything has reversed on you. Over the last few years especially, with turbulent markets and economic confusion, the real estate market has become increasingly dynamic. In this era of constant fluctuation, how will you know how much your home is worth? There are three things that you need to know: 1. Use the right tools. Online estimators are a great way to get a very rough estimate of where your home’s value is likely to sit. These are best accessed directly through your preferred real estate agent’s website. While they aren’t perfect, these tools can give you a general idea of your home’s value. “The real estate market has become increasingly dynamic.” 2. Use more recent comps. In the past, it was common to use comparative home sales from the prior six months. Now, more than ever, it’s important to use comps that are as recent as possible. In 2022, we saw mortgage interest rates double in six months, and home sales prices responded accordingly, which means that six-month-old comps just didn’t cut it. A trained, experienced, and skilled real estate agent like me will know what comps to draw from when determining the right price for your home. 3. Work with the right team. No matter how well you do your homework, nothing beats working with a professional. We have the experience and training to know how to price your home right the first time. We know what amenities and upgrades can net you the best dollar-for-dollar return and how to beat out the competition with the right marketing plan. If you have any questions about this topic or real estate in general, don’t hesitate to call or email me. I would be delighted to serve as your resource for all of your real estate needs.   Written by Ruby Miranda on June 9, 2023. Posted in Sell Your Home, Seller TipsTags: Sell Your Home Trackback from your site. Leave a Reply

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