Buying a foreclosure, bank owned property, distressed home or and other house that may fall under the term BARGAIN HOME can be a taunting task, but not without great rewards!
You are considering buying a new home, right? You are in the middle of or just starting your research on the subject and you have heard a lot from everyone about buying homes at rock bottom bargain prices.
There are plenty of homes in our local market that I would classify as bargain deals, that are priced well below the value of the homes potential. You can't walk into any neighborhood today that has not been affected by foreclosure, distress sales, or short sold homes.
What you will have a very hard time finding are homes that are considered bargains being sold by unmotivated sellers. Motivated sellers are those such as Banks, HUD, FannieMae, FreddieMac, VA and some times pre-foreclosure sellers. An unmotivated seller is one who's doesn't have to sell, who has a mortgage close to the market value of their home, who needs a large profit to buy their next new home.
How do you recognize an unmotivated home buyer, you can't! I would recommend that you stay with the model that provides us with only motivated sellers, FORECLOSURES! In staying with the motivated sellers you will bring less stress into your home buying process!
How To Find The Most Motivated Foreclosure Sellers
HUD, or FHA: These are homes offered through the Housing and Urban Development department of the Federal Government, sometimes known as FHA foreclosures. Click HERE to find HUD Foreclosures in the area of town you want to live.
Fannie Mae: The largest of the two GSE or conventional mortgage lenders. Click HERE to find Fannie Mae foreclosures in the area you want to live.
Freddie Mac: The smaller of the two GSE or conventional mortgage lenders. Click HERE to find Freddie Mac foreclosures in the area you want to live.
What about VA and USDA? What about all the bank owned properties? The other governmental lenders do not have web sites available to the general home buying public.
To find all homes offered for sale in your area there are two easy methods to do a complete search. Start working with a real estate agent who is experienced in helping home buyers find foreclosures and bargain homes. Because I work extensively in this field, if you would like a recommendation please feel free to contact me.
AN EASY METHOD TO FIND ALL FORECLOSURES!
I can provide you an easy to use foreclosure listing delivery program that not only will find you all the foreclosures on the market but a lot more. Pre-foreclosures can offer you an opportunity to buy a home from a motivated home seller before it goes on the market. For Sale by Owners, are homes that are not listed by real estate agents but are at times a great way to find an unlisted bargain home.
Visit this link on my website and see what bargain homes are available in your area, some you can find on the other sites above, others an agent can find for you, but others are homes that are for sale that no agent or web site can provide. Click HERE to get started.
The Best Mortgage Program For Purchasing a Foreclosure is the FHA 203k Renovation Loan Program. To Receive a Free Copy of The Home Buyers Guide to The FHA 203k Mortgage......