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Foreclosures in St. Charles County
FORECLOSURES in St. Charles County

Foreclosures in St. Charles County are plentiful as they are through much of the country.  Many times this is an attractive market for the first time home buyer looking for a fix'r upper and a deal. Foreclosures often have some built in issues to deal with that are not found on other purchases. 
For example foreclosures will many times have buyers who will attempt to get financing with an FHA loan because of the lower down payment needed.  The issue with FHA loans and Foreclosures is often with the appraisal process.  The FHA appraiser will find things that they will "predicate" the loan on (basically saying these items need to be fixed before they will close the loan.) The issue with the Foreclosure is that you don't yet own the property and so technically should not be fixing or altering the property in an manner creating a kind of, "chicken and the egg" situation.
 
Recently I become certified thru a local bank to work with a new product they are rolling out to eliminate this issue.  Basically, once we find a foreclosure property for you to purchase, the bank will have their appraiser go ... more

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