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Don't Go Crazy in a Topsy Turvy Real Estate Market

By
Real Estate Broker/Owner with (Individual Real Estate Broker)

How to Buy Foreclosed Houses & Keep Your Sanity at the Same Time

 

As a real estate broker and investor for many years, I am sometimes asked by newcomers how I manage to hold on to my sanity in this crazy business. Tip 1. Work with an experienced real estate agent who specializes in foreclosed properties. Especially if you have never bought a foreclosed house before, this tip will greatly increase the odds in your favor.
Tip 2. Do your homework. This can cover a lot of ground. The internet has many potential resources for buying reo foreclosures. Visit these websites for a sampling of available houses: www.countrywide.com/purchase/f_reo.asp, http://www.reotrans.com/ , www.ocwen.com/reo/home.cfm
Tip 3. Show me the money! Unless you have all cash available, you are going to need financing. Do you belong to a credit union or have a checking or savings account with a bank? These are good sources for possible financing. Don't forget that you can apply for financing on-line in many instances. A pre-qualification or pre-approval letter in hand gives you leverage when it comes to negotiating a sales price.
For more info, see http://www.bondrealty.com/ or email to janwbond@bondrealty.net

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