Sniffing Out Foreclosed Homes Bargains by DONALD PAYNE CRS, CDPE

By
Real Estate Broker/Owner with Vision Realty
https://activerain.com/droplet/Lfz

 

 

www.visionrealty.comIf you have ever wanted to buy foreclosed homes in Columbus ,Ohio  a recent look at the market will have shown you that it is becoming more of a competitive exercise than was the case just a short while ago. Especially if you are an investor who is focused on the profit potential, not every offering will clearly fit the bill. Here are some ideas for sniffing out a profitable deal:

                                                                                                  homeseekcolumbus.com

1. Look for a home that has been on the market for a while.

 

Low-priced homes which have been listed for a short duration often wind up fetching higher prices than higher-priced homes that have been idling on the market for a while.  If you are looking to buy foreclosed homes in Columbus, ask me about bank-owned listings that you feel  may be overpriced. Then, if you like one that has been on the market for a while, consider making a low bid.  Sean O'Toole, founder and CEO of ForeclosureRadar.com, says "The underpriced properties get a ton of activity and go quickly, but you can really get a better deal on an overpriced property."

 

                               2. Stick with homes that don't need repairs.

                                                     

                                          www.visionrealty.com

 

It’s different for those who are finding a property they will call home. For investors, foreclosure sales are only worthwhile if they will not have to spend more money and time repairing the house than the projected profit margin allows.  A great deal is not necessarily the lowest-priced home in a neighborhood; seasoned investors looking to buy foreclosed homes have learned to undervalue neither the financial nor time investments.

 

                             3.  Buy at the year- or quarter-end. www.visionrealty.com

 

When you buy foreclosed homes from a lender, the situation differs from that with a traditional seller. Usually, you will be negotiating with a corporation. Since that is the case, their internal financial reporting can sometime make a difference. O’Toole advises to “…consider making a November or December offer highlighting the fact that you can close by the end of the year." You just might be able to get a lower price simply by taking advantage of the bank's timing.

 

If you would like to buy foreclosed homes and could use an experienced agent to help, I will be there every step of the way.  Contact me anytime you would like to talk over how I can help you land a great deal!

                                                                  homeseekcolumbus.com

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columbus, lewis center and gahanna real estate

Columbus Ohio real estate - Vision RealtyAs a certified Realtor® for the top-rated Columbus Realty Firm - Vision Realty, with 32 years of dedicated real estate experience, I can help buyers, sellers, investors, short sale sellers and more find, sell or invest in the right property, at the right price, at the right time. Contact me anytime for updates and information on the Columbus OH Real Estate market.

 

Donald Payne - Vision Realty, Inc.
4608 North High Street

Columbus, OH 43214

Toll-free: (866) 510-2223

Cell: (614) 323-4348
DonaldPayne@VisionRealty.com
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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Joe Jackson 11/08/2012 04:16 PM
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Tags:
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Rainmaker
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Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

Don  You made some good points in this post

Nov 08, 2012 04:09 PM #1
Rainmaker
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Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

Bank Owned homes are still a good value in the Columbus area.

Apr 15, 2014 12:11 AM #11
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