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Call 800-309-3414 for Joyce Kelley CBR, CBA, Buyers Agent for Charles Stallions. I only work with buyers and tenants so you get my undivided attention.
Military Relocation to Pensacola NAS, For Rent 32514, Navy Times Rentals available
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ML: 421215m RES A | 5324 E AVENIDA DE GOLF, PACE | PR: | $36,900 |
| AR: Pace | SANTA VILLA GOLF/CC NONE | ApxSqft: | 1,206 | |
| BR: 4 BA:F:2H:0 | Style:Ranch | Acre: | 0.42 | |
| GAR:1 Car Garage, Front Entry | YrBlt: | 1977 | ||
| DR: Highway 90, South on Santa Villa, Left on Avenida de Golf | $/Sqft: | $31 | ||
| LO: SELLSTATE GULF COAST REALTY |
| Four bedroom, two bath bricked home with a large fenced in backyard. The living room has vaulted ceiling and a plant ledge. Tile and carpet throughout! With some vision and work this will make a fabulous home! |
Via Nicky Dou | Century 21 Exclamation Realty (Northwest Arkansas Real Estate):
Buying a foreclosure, bank-owned, or REO home
How is buying a home that is bank owned or managed different from other home purchases? Usually, when buying a home, you deal with a seller who lives in the home. On foreclosure or bank-owned homes, the bank has acquired the home through foreclosure, deed in lieu of foreclosure, or forfeiture.
Tips for buying a foreclosure:
Most foreclosure properties are managed by a bank or third party asset manager, which in turn gives the listing to a Real Estate Agent. Buying a foreclosure is a different process and can be very confusing, therefore make sure you have an experienced buyer's agent representing you and your best interest.
Via Kamal Salim (Keller Williams Properties):
Once a foreclosure has gone to auction and failed to sell, it becomes a Real Estate Owned, or bank owned, property. Most homes do not sell at auction, most fail to even get any bids.
An REO property is the least likely of the foreclosure properties to represent a bargain, but it is also the least risky. The property can be fully inspected, any title issues can be found and dealt with, and the sale can be subject to a mortgage. REO properties also tend to be in better condition than other foreclosure properties.
Another thing to keep in mind when purchasing a foreclosure is that some states have a redemption period that allows the original owner to buy back the property by paying the remaining balance owed. You may be able to have this redemption period waived, so check the state laws on this topic before purchasing.
Still interested in buying a foreclosure property? If so, always do your research before purchasing!
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