Do realtors not like to work with foreclosures? Are there problem they are just not saying?
Question:
Answer:
Most residential real estate agents do not have access to foreclosures, nor do they have the expertise to help borrowers purchase them. If you find an agent that specializes in foreclosures in your area, you should not have a problem.
There are always potential risks with any purchase, and a home inspection is even more critical on a home that may have been sitting vacant.
Anthony
http://www.bankownedassets.com
I love foreclosures and I've been in the business since the mid 70's it's nothing but paper work you just have to be extremely careful because these properties are sold "as is" so you better know what you are doing.
Not really, but they know that it can be a frustrating process for the buyer -- and, as a result, the agent. If a house has been foreclosed on, there can be a lot of deferred maintenance that can rise up and bit a buyer in the butt, and since most homes are sold "as is" without a warranty, buyers have to be extra-careful on inspections, etc. Plus, the paperwork and approval process can be a little slow -- there's little motivation.
Yea. they have endless deferred maintenance. The values are not there for the most part. Banks are getting sued for not making more of an effort to get better prices. By t the neighborhoods the foreclosures are in. And many first time buyers don't realize how much real work is in out dated, rundown homes
Selling a foreclosure is much like selling any other property (and a plus is that it is always available for showings). The downside is that banks take their good-natured time in responding to offers to purchase, regardless of any deadline for offer acceptance you might try to put in place.
Many times non-standard forms are used, which can also require a bit of extra work on the realtor's part. Banks also tend to pay less than the standard listing contract percentage, so the eventual commission might be a bit less.
Other than that, all is the same and all is well.
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