Foresclosures Can Make You Crazy!

By
Real Estate Agent with eXp Realty, LLC 527179

FORECLOSURES!!!!

It is challenging to be a buyers agent in a foreclosure sale.....you want to protect your buyer as much as you can but the bank addendums come after the offer and they ammend everything that you included in the offer to protect the buyer!!  A foreclosure home can be a good deal for a buyer but it is VERY important that buyers go in the transaction with EYES WIDE OPEN.  Purchasing a home AS IS is a big risk, use caution and do your home work as best as you can before making an offer on a foreclosure.

Does it seem like the banks don't want to sell these homes sometimes??  It does to me!  Offers get presented that are reasonable for the condition of the property and the banks still decline the offers.  With all the homes on the market that are foreclosures and short sales I would think the banks would move faster on the decision process.

I hope that soon we will see more changes in the processes for the foreclosure and short sales.  Change is good and I think change would help to improve the market and eliminate some of the fears that sellers and buyers have about selling and buying in this market.

Comments (1)

Tammy Woodin
Bellingham, WA
Sudden Valley, Washington

The banks really like cash and quick close-no contingencies. That 19 page addendum is intimidating!

Sep 14, 2010 03:11 AM