The Orange Beach foreclosure market is still wide open for business. There are opportunities to invest in right now, just waiting for the right buyer to come and swoop up the bargain. Now is the time—you have a fabulous chance to end up with a magnificent home in a wonderful neighborhood for far less than what it’s actually worth.
When purchasing a foreclosure, it is important to be sure you know what you are getting into regarding repairs and/or improvements to the home. Are there major repairs needed—costing $500 or more—or just minor fixes? And if there are just minor ones, how many minor repairs? Be sure to do your homework on the property before purchasing. Get it inspected and know the costs in bringing everything up to par. You can consult with professionals on this to be certain you are not falling into a money pit. If there is a safety issue or if multiple repairs are needed, you may need to walk away from that property and move onto the next. However, many times within the Orange Beach foreclosure market, purchasing the home and paying for the improvements and repairs still allows you to get a great deal on the property. This is an excellent time for investors to strike while the iron is hot here in Orange Beach.
It’s important to consult a real estate agent who can assist you in every step of making a foreclosure purchase. There will be other professionals needed, and a real estate agent can make referrals to reputable companies. Especially for the investor, this can help you establish good professional relationships to assist you on multiple purchases.
I have extensive knowledge of the Orange Beach/Gulf Shores area and enjoy living here. I can assist you in looking for foreclosure properties and several other real estate options. Give me a call today, Lance Steffek: 251-981-2225 or contact me online.
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