There are a lot of bargains to be had out there. In a recent search, I discovered about 7 out of 10 homes in a popular suburb of Minneapolis were Short Sale Candidates, Foreclosures, or REO's.
If you are in the market to buy one of these incredible values, there are a few things you should know:
- Be Handy or have more of the next bullet point
- Have reserve funds for mortgage payments, fix up and holding costs
- Have patience (It can take up to a month to get a response on a purchase agreement)
- Have an experienced agent (Nothing can take the place of a strong agent, that knows how to weigh the pro's and con's of an individual house.
- Get a home inspection, even if you "think" you can spot every issue - Another set of trained eyes will make up for the expense - EASY!
If you are interested in more information, I would be foolish not to recommend myself, but I would be more than happy to at least point you in the right direction if you do need help. I predominately work in the Northern, Western, and Southern Suburbs, I would not feel comfortable working with anyone in the St. Paul or suburbs, as an example. Brutal Honesty is good in this business.
May God Bless your investment!
Stieg Strand, Broker & Real Estate Trainer
Comments(0)