I Want To Buy a Foreclosure……. NO YOU DON’T!
By Leander McClain
Readers of my blog know that most of my listings are foreclosed homes in New Jersey. As a result, many clients initially state that they want to purchase a foreclosure or a fixer upper. They have watched a Flip This House marathon and they are ready to go. How could they go wrong? They can purchase a bargain home, fix it up and have their dream home for much less than the current asking price of homes.
What could be easier?
I am happy to show my clients any homes that they are 
interested in.
HOWEVER……..
My experience has shown me that most people don’t have the heart or stomach for foreclosures or short sales. The first thing that buyers must remember…..if someone has fallen into dire straits and can no longer afford to make their mortgage payments, mostly likely they cannot or will not keep up the maintenance on the home.
So what can you expect when you walk into a foreclosed home that is listed for sale? You just might find a home that is move-in ready. On the other hand, you are likely to find a dirty home with soiled carpets. Dirty and outdated kitchens & bathrooms. Smells of 
pets, urine, mold, mildew, rotting food or cigarette smoke. There may be water damage from frozen pipes. You may find trash that the previous owner left behind. Oh yeah…..plenty of dog & cat hair.
The pictures on this post are actual pictures that I took inside of some of my listings. You have to be able to look beyond the soiled toilet, dead animals and funky smells. Most people cannot.
The second thing that buyers must remember……the process to purchase one of these homes can be painfully slow. If you put in an offer this week, you probably won’t get a response for several weeks. Dealing with a bank is unlike dealing with an individual. The bank doesn’t respond to threats. Just like my old Navy days….be prepared to
HURRY UP AND WAIT!
So if you have a strong stomach, plenty of patience and the foresight to look past the obvious…..you may do well with purchasing a bank owned home. If not, that is ok. There are plenty of other homes that I will be glad to show you. Either way, your dream home is out there. We just have to find it.
Give me a call today so we can get started!
(856-438-0399)
Make This Your Best Year Ever
Your Friend In The Real Estate Business
Leander McClain, Camden & Burlington Township Realtor & Real Estate Consultant, Atlantic & Pacific Real Estate, 103 Carnegie Center, Princeton, NJ 08540 856-438-0399 (direct)
lee@njsouthrealestate.com, @leemack912, www.facebook.com/Leander.NJRealtor
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