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When I get the call and I
do on a daily basis with the
question in Beaverton, Oregon, “Are
foreclosed homes easier to buy than short sales?” I have
it really depends on who holds the foreclosure as each bank is
as it is with each seller.
You see, I’ve had REO properties that have
sold in 7 days
for cash before because the bank was willing to work with the buyer,
were turned on right away for the inspection, the listing agent did
needed to do right away, everything went smoothly.
But, then there are those other
cases… Where the bank won’t
turn on utilities, the listing
agent doesn’t return calls or emails for weeks
after the offer has been accepted and it is delay after delay after
delay. I do
think in most cases foreclosures are the better choice unless the short
has been pre-approved, but you just need to be prepared as you may not
moving in next week as planned.
Here is a recent example that
even when we thought my buyer
would be moving in, all of a sudden the door was slammed on us
at the last
minute and no one seems to know by who. HUD
and Urban Development) is
a great source for foreclosed homes. But, in two recent cases it makes
wonder how the government can criticize banks when they themselves
to know how to deal with a foreclosure.
One had the buyer already signed
and HUD came back and said “We
can’t close we forgot to do a lead based paint test” The
only problem is no one
knew who ordered it and why? So now we have a buyer sitting here three
later without a home and we are no closer to closing as far as we know.
at HUD seems to know who ordered it, but they all agree we can’t close
that test is done, but no one will order the actual test.
The second case involving HUD
took 8 months to close because
of delays by HUD. Now, I know the website says you have 45
days to close on a
HUD home and that is correct, you have 45 days, but HUD has all the
time in the
Each case is different when it
comes to foreclosures, I have
one big bank that we have been waiting on for a week to have them sign
deed, and they even tried to fine my client a $100 a day
for not closing when
my client had signed last week. We had to tell them that the reason for
delay was them, not us, we have already signed. (The escrow officer had
laugh at the bank representative on that one)
So, if you are in the market for
a short sale or a
foreclosure, we are here to help, but just like anything
in life, there is no
strait, flat answer, but in general, foreclosures do close faster and
complications than short sales.
Click on the map
below to search all available Beaverton foreclosed homes
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
What if there was a way you could search the MLS for FREE just like Realtors
Now you can access the MLS using similar tools as Realtors. You are in control of what you want to search for, and you can search the MLS at your leisure. The information you submit in the form below can also be used to put you on an automated system where you'll be emailed all homes that meet your search criteria. You'll get internet access to a website that includes pictures, prices, and addresses to real estate that's listed in the MLS!
Helping Families Home is a blog set up to help families find that perfect home for them. I have a family and I understand how hard it can be to find a home that everyone is happy with. Let me help you find that home and help your family home.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.