foreclosures: BUY BANK OWNED PROPERTY TODAY Northshore of Boston - 12/27/08 10:50 AM
Here is the chance most buyers on the fence don't seem to realize. The banks and lenders are closing out their books for 2008 and are making projections for 2009. The high volume of foreclosed properties sitting on the market is just the tip of the iceberg as the number of "short sales" will turn into foreclosures.
The time to negotiate with the banks is right now. Many of the assett managers I have talked to are looking to see offers and move inventories. I am seeing foreclosed properties sell 10 - 20% below asking price on already reduced properties. Many … (2 comments)

foreclosures: Buying Foreclosure Income Property? - 08/14/08 02:06 AM
Hi all, Wow! It has been a long time since my last blog. I have been extremely busy working with clients that are taking advantage of the foreclosure market.  Having completed numerous transactions I want to pass on some helpful information. Here is a list of some key points to understand.
1. Fully explain the buying process to your client PRIOR to seeing property. Make sure you explain that each lender of a foreclosed property will act differently.  Some lenders will have strict guidelines. Ask from the listing agent a copy of the P & S and addendums.  Some banks will pass … (2 comments)

 

Michael Ross

North Shore of Boston

Beverly, MA

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Coldwell Banker Residential Brokerage

Address: 54 Dodge Street, Beverly, MA , 01915

Office: (978) 233-2893

Mobile: (978) 233-2893

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