Is your buyer one of the MANY looking for that "Perfect Home" in the Sea of Foreclosures?
There is no doubt that just about more than half of the properties shown are in some sort of Foreclosure process, making the process a more difficult one to understand for your buyer. As a Realtor we have to inform our buyers exactly what the Foreclosure process entails, we NEED to educate them (& ourselves), to let them know that there are different stages of the foreclosure process, and that there are advantages and disadvantages during each step of the process. It may be very difficult for some buyers to deal with distressed home buyers, in that instance buying a Bank-Owned property may be for them. It is up to us to help the buyer decide. We need to make sure that the buyer is aware that there may be Property Liens on the property for one reason or the other. There are so many aspects of a foreclosure that tend to get overlooked and just forgot about. This is where we step up to the plate and EDUCATE!
FIRST and FOREMOST is finding FINANCING and actually helping them to understand the financing if needed. Most of the foreclosed homes will need additional repairs so that has to be taken into consideration as well....I post this blog due to the overwhelming market we are in today, buyer need to understand that there is more to buying a foreclosed property other than getting a "sweet deal". WE as REALTORS have to take the role on of educating our buyers. That is my main priority, if we are honest in our dealings we can help to clean up this mess.
I wish all you luck in this market, buyers, sellers, and Realtors alike!!
Comments(2)