Buying a Foreclosure

By
Real Estate Agent with The Edge Group LLC 1298065

Most people think that buying a foreclosed home is a good deal. But what is a good deal? If looking at many foreclosures, putting in many offers which many are rejected, no FHA available financing, many repairs required and the lender selling the home as is looks like a good deal then foreclosures are for you.

 

A lot of my buyers over the last several years start out wanting to look at foreclosures and distressed properties but end up buying a home from a regular seller or a fix and flip investor. I was at a seminar yesterday and was told that in today's market 80% of buyers start out looking at foreclosures but only 8% end up buying a foreclosure. In my option I think that is ultimately due to the fact people are not looking for a lot of headaches they are looking for a HOME.

 

To find you home in the Denver market area click http://www.theedgegroup.net/content/homefinder.html

 

 

Paul Gruber    CRS, e-Pro, REALTOR

Broker

The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7138 W Roxbury Ave

Littleton, CO 80128

303-886-5991

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Colorado
Groups:
Realtors®
1st Time Buyers
REO
Posts to Localism
Tags:
fha
littleton
reo
foreclosure
short sales
1st time buyer
littleton real estate

Spam prevention
Show All Comments
Rainer
81,737
Corey Chase
Silvercreek Realty Group - Meridian, ID

You definitely have to cover all bases before making the choice.  As for the reason on having a trained Real Estate Agent to give the buyers sound advice.

Mar 10, 2010 03:49 AM #1
Rainer
67,475
Bill True-Broker,ABRM,CIPS,CRB,CRS,GRI,RSPS
True Real Estate - Osprey, FL

It comes down to caveat emptor! Let the buyer beware.

Mar 10, 2010 03:53 AM #2
Rainmaker
219,039
Rob Proctor
At Home Real Estate Company - Loveland, CO
GRI ePro

If you like going into homes that smell like pet urine, all of the built-in appliances are missing, nice big holes in the drywall and doors, then buying a foreclosure might be the right thing to do.  But now you have to deal with the bank. They said the home was winterized but when you had it inspected the plumbing was full of holes. You send them a notice to correct. Now you wait and wait...

If that doesn't scare you off...GO FOR IT!

Mar 10, 2010 11:14 PM #3
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
19,048

Paul Gruber

CRS, e-PRO
Ask me a question
*
*
*
*
Spam prevention

Additional Information