| Tips on Buying a Bank Owned (REO) Property that | | | | you want be ready. Don't lose the deal because you |
| everyone needs to know. There are hundreds of tips | | | | are still looking for a loan. |
| because each transaction is different but for the sake | | | | 6) Don't fall in love with the property until the deal is |
| of space, lets narrow it down to Eight tips. The media | | | | complete. Too many things can happen along the way. |
| is talking crazy when it advertises about about getting | | | | It is not done until you sign the papers and the money |
| into the Foreclosure Market. Two ladies are talking and | | | | transfers. |
| one says she just bought her DREAM HOME for | | | | 5) Bring your imagination. Some of these properties |
| $18,000 dollars. All you have to do is get a Foreclosure | | | | need cosmetic work. Just because the walls not |
| List and you too can get your DREAM HOME for less | | | | painted your color, it still could be a great home. Look |
| than one years rent. It's that easy folks. | | | | beyond the current state of the house. It is amazing |
| The reality in the North Texas (Dallas Fort Worth | | | | what a little paint a cleaning will do. There is a |
| Area) is that it aint' happening. Why... Dallas Forth | | | | difference between cosmetic and structural. Most |
| Worth, Houston and San Antonio are all growing. More | | | | cosmetic work is inexpensive. Plus...the worse the |
| and more people are moving to this "Triangle". | | | | home looks the better price you will pay. Bring your |
| According to the Associated Press, July Home Sales | | | | imagination. |
| Had the Largest Increase Nationally in 10 Years and | | | | 4) Get a home inspection. This is a must for any |
| Texas is expected to Lead the Nation in Recovery. | | | | property you buy. The cost of the inspection is nothing |
| Texas Posted 37,900 Net Job Growth in July - First | | | | compared to to the problems you could have if things |
| Gain in Almost One Year. As long as the jobs are | | | | are not checked out. Don't save a few dollars only to |
| growing and the price of Real Estate is low compared | | | | spend thousands later. |
| to the rest of the United States, real estate will hold its | | | | 3) Know what contract the bank (lender) will require. |
| value, even foreclosed real estate. So the pennies on | | | | Each bank has their own addendums that they want |
| the dollar are not happening here but we will have | | | | to use. Your Realtor will know what is required. |
| stability. | | | | 2) Make a strong offer if you want the property. It is |
| 8 Tips! | | | | heartbreaking to low ball a great property and mostly |
| 8) Be Realistic. Even though you won't get a home for | | | | a waste of time. Good looking, fairly priced homes will |
| pennies on the dollar, you will get a good deal. You can | | | | move quickly. Good looking, fairly priced homes will |
| have instant equity in your home if you get it for the | | | | most likely sale close to the asking price. Trying to low |
| right price. Most people take years to have the equity | | | | ball the property will not work. |
| you will have at closing. | | | | 1) Choose a Great Realtor. Find a Real Estate Agent |
| 7) Be pre-approved. When the bank is ready you must | | | | that works Bank Owned Foreclosures. |
| be ready to move quickly. When you find the home | | | | |