Wondering what precautions to take when buying San Fernando CA Real Estate foreclosure and shortsale property? There are many many excellent buys in San Fernando Valley CA shortsales and foreclosures when prepared and well advised. Now is the perfect time to buy! And yet there are amany pitfalls to avoid. Buying San Fernando CA real estate foreclosures and shortsales can be made much less stressful and much easier by using a San Fernando Valley CA realtor who is experienced in buying foreclosures and shortsales. Most oftern you will need to have cash on hand to do some fixing up after buying foreclosure and shortsale properties.
Obviously the reason they are on the market at a loss is from lack of funds so maintenance will not have been a priority. For a property to reach the foreclosure stage most often more time has elapsed since an owner has had the funds to maintain the property than a shortsale has had. The reason an owner would want to shortsale their San Fernando Valley CA real estate is usually an effort to lessen the damage to his/her credit. Buying Shortsales can take much longer from offer to close of escrow than foreclosures generally do. The banks that approve the shortsales do not begin the approval process until an offer is submitted. This can take 3-4 months. Patience is a must in buying shortsales . This is where an experienced San Fernando Valley CA shortsale and foreclosure realtor is invaluable. It takes tenacity and knowledge above and beyond the usual transaction on the part of the San Fernando Valley CA shortsale and foreclosure realtor. Inexperienced realtors often give into the stress and walk away. Once you have made your offer for buying a San Fernando Valley Ca shortsale or foreclosure it is very important to have a reliable inspector inspect the property. A reliable inspector can advise you as to any underlying issues regarding your purchase. Buyer beware! We hope you will regard this advice carefully so that your experience will be a profitable one. ! We are expecting a large amount of San Fernando Valley Foreclosures to come on the market shortly so if you are buyer interested in buying forelosures and shortsales in the San Fernando Valley CA Foreclosure and Shortsale Market line up your realtor with experience in these fields today!