With an increase in New Bank Owned listings the questions of "Why is this home being sold CASH ONLY" are pouring in again. Some buyers can get pretty animated regarding Listings that come on the market with this restriction. The problem starts when homes are in such bad condition, that buyers can not usualy get a mortgage to buy it.
Many homes have missing or frozen plumbing, the electric is not on and there is no functional heating or plumbing. For most mortgages the water needs to be on and the heat needs to be functioning. Banks either can not or do not want to make the repairs to bring to these standards. It is simply not cost effective to make repairs that are not bringing back a return on investment.
The issues multiply when banks insist on using national preservation companies that often charge more and offer a poorer quaility in workmanship than if a local contractor was used.
The problem actually started when teh government placed moratoriums on foreclosures last year. many home owners were already 1 to 2 years behind. Many just abandonded them and they sat falling prey to nature and vandals. Others although they stayed in their properties, they were not maintained.
Some listings will allow buyers to get FHA 203k or use USDA programs to purchase and fix these homes. The problem is it can take a very long time, many times loans are denied and the home comes back on the market. Banks opt to sell throuh cash sales and as is to know they are sold and not coming back on the market.
A Buyer should use a local, full time Buyer Broker who is well experienced with bank owned homes to assist them to find the homes that they may be able to purchase.
Please call for a FREE MARKET ANALYSIS to let you know what the value of your home is.
If you need to sell your home and you owe more than your house is worth, i may be able to help. I specialize in working with home owners to get your home sold. There are many options such as a short sale whcih may be able to help you.
Please try and avoid out of state or out of town agents and companies that make "out of this world promises". We are local agents with experience who never charge any up front fees. WE GET RESULTS!!!
We stand by you through every step in selling your home.
PLEASE SEE MY "SPOT LIGHT" Series for different neighborhoods in NH
1. Spotlight on FOX HOLLOW CONDOMINIUMS in Manchester NH
2. Spotlight on ROSECLIFF in Manchester NH
3. Spotlight on ROSEGATE FARM in Manchester NH
4. Spotlight on NEWTONS MEADOW Condominiums in Manchester NH
5. Spotlight on EAST MEADOW Condominiums in Manchester NH
6. Spotlight on SunView Condominiums in Derry NH
7. Spotlight on the Trolley Crossing Neighborhood in MANCHESTER NH
8. Spotlight for STONE TERRACE CONDOMINIUMS in Manchester NH
PLEASE SEE MY "TOP" TIPS FOR BUYING A HOME
PLEASE SEE MY "TOP" TIPS FOR SELLING A HOME
ONE OF NEW HAMPSHIRE'S LEADING AGENTS FOR SHORT SALES AND BANK OWNED HOMES...
If you are Looking for a Real Estate Agent you have come to the right place. Scott Godzyk is a Full Time and Local agent ready to serve all of your Real Estate needs through each step of the buying or selling process. We are proud to be locally owned and operated.
If you owe more than your house is worth, If you are behind in your payments, I may be able to help. Call me to find out how you may be able to sell your home at no additional cost to you.
Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Ssles, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.
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