It is the question I get asked everyday, how do I buy a bank owned foreclosed property. I honestly think I have seen it all now, believe it or not in phoenix we are starting now to see the desperate buyer. The beat up buyer, the tired buyer, the buyer that basically says "I am done looking for homes tell me what I have to do to just buy a house". They just cant make it easy can they.
The title of this blog is Phoenix Arizona bank owned homes for sale, because that's really what it is about right now. Where are the bank owned homes. I will tell you they are dwindling, that's right in the past month the number of foreclosures have gone down, and the number of buyers have gone up. Meaning if you want to see the homes for sale and get the best experience buying a home follow my repeated steps.
1.) Talk to a lender and/or round up your cash
2.) Interview a buyer agent
3.) Have the buyer agent find you homes and call them everyday, help them help you (I said it)
4.) Read everything very good
5.) Be prompt
What to look out for in bank addendum's.
Lately I have seen the banks screwing with the mortgage contingency and the inspection period more and more, be careful. Also watch out for highest and best situations they get ugly (offer what you are willing the pay with your first offer, at least right now in phoenix Arizona April 2009 it is the best way to get the house you want).
There is so much information to go over when buying a home right now just recognize that; be patient and most of all take notes, it is not the same market.
Call with questions
Daniel McCarthy
CEO/Realtor; Walk-In Real Estate
623-628-7372
dan@buy623.com
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