Why do I love selling bank-owned homes?

Why do I love selling bank owned homes? They are not usually the nicest homes on the block, and sometimes they are downright ugly. I always tell my sellers that want the highest sale price for their homes to make sure the house is clean, bright, smelling fresh, well maintained....even spotless. Bank owned homes don't even come close to this standard! 

Cleaning the house and getting it ready for market is often called "trashing it out" and "boarding up and securing" the property.  Property maintenance is often the minimum required to comply with town ordinances and to keep the grass at a reasonable, mowable height. And clean and smelling fresh? Not usually!

So why would I choose to sell these homes?  Well, there are a number of reasons.

1. It is easy to know what the bank wants. As Sellers go, banks are usually pretty straight-forward to deal with. Generally speaking, they are strictly looking for the most qualified buyer, the best price, an as-is sale, and a closing within 30 days.

2. While they have their own procedures and addendums, and they usually don't respond to a buyer's offer nights and weekends, they will usually respond fairly quickly during regular business hours.

3. They are not emotionally attached to the property. They want to sell their houses, and they want to sell them quickly. 

4. They are SERIOUS sellers, and do not get totally de-railed when a major problem comes up with a home inspection. They make a financial decision, and they either make an adjustment or release the buyer.

5. They SELL their houses....every time! As long as I do what is expected, they list the property with me until it sells, and they make regular price adjustments as the market conditions warrant. They don't take their house off the market to sell next spring, or to list it with another real estate agent at a better price.

Why else do I love selling bank owned homes? While I hate the devastation that people have gone through on their way to losing their home, I am always hopeful that the previous owners have finally had an opportunity to make a fresh start and are re-building their lives. 

When financial difficulties come to a homeowner, there is so much stress, and often the house is not maintained to the highest degree. When the people have moved on, the foreclosed house is often in need of updates and repairs. Selling these homes, in my eyes, is helping the community and the economy one house at a time.

Getting a new homeowner into a bank owned property is a great way to see distressed homes get taken care of and neighborhoods improve. In today's economy, those who are properly positioned to buy have some great opportunties!

While these homes often need work, they are also priced more affordably. For many of these foreclosed homes, someone with a reasonable amount of do-it-yourself skills will be able to make the house a home and build some equity quickly.  The more distressed properties may require a professional contractor or investor...but these houses put people to work, and often the work goes to small local businesses and contractors, and that's good for everyone, too!

If you are looking for an affordable home in Connecticut, and want to consider a bank owned home or foreclosure property, call LISA ORME of The Master's Key Realty. I would LOVE to sell you a home you can build equity in!

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Serving the North Central Connecticut region, Hartford County, and the communities of Windsor, Bloomfield, Hartford, East Hartford, South Windsor, Manchester, Windsor Locks, Suffield, Enfield, East Windsor, Somers and the Granbys...

Opening Doors to Home Ownership . . . The Master's Key . . .

Residential Sales, Short Sales and Foreclosure Prevention, Multi-Family and Investment Properties, Condominium and Property Management

            LISA ORME     

 

Licensed in the State of Connecticut, ABR, CRS, GRI, PSCS, SFR, Notary Public, Lic. #REB.755648

 Broker/Owner of The Master's Key Realty LLC, 340 Broad Street, #320, Windsor, Connecticut 06095

To contact Lisa, call 860-688-1400 or send an e-mail to lisa@masterskeyrealty.com

Copyright, Lisa Orme, 2010.  All rights reserved.