Foreclosures and Bank Owned Properties in Northern VA: A good deal?
Can the Right Foreclosure Property be a GREAT deal?
YES. Most times people who are looking for foreclosures or bank owned properties are simply looking for great deals. This means a home purchase where they can get a little equity right off the bat by purchasing RIGHT.
If your goal is to build equity quickly, Foreclosures can be one source. Bank owned properties can be another. Fixer-upper homes that are NOT in the foreclosure properties are a third source. And beleive it or not there are some GREAT deals to be found for the savvy investor simply by looking for homes in the MLS.
The Source does not matter as much as the amount of motivation.
What type of home (foreclosure, bank-owned, or etc.) is not NEAR as important as how much motivation the owner has to sell. For example, a bank that is holding a property has DIFFERENT motivations for either selling it or holding it than you might think. So while sometimes there are good deals to be had, at other times they may not be motivated AT ALL to sell the property.
And while a regular homeowner selling their home may APPEAR to have little motivation to sell, a closer look may reveal that they NEED to move and could have a LOT more motivation than the bank at that point.
Which one will likely provide the best deal in the above cases: An unmotivated bank? or a HIGHLY motivated everyday seller?
Let me help you find the BEST deals regardless of whether they are foreclosures, bank owned properties, or not. I have worked for years with both foreclosure properties and as a REALTOR in helping savvy buyers get the perfect home for them.
Give me a call today and let's discuss your 2018 goals today. Let me help you make your next home purchase successful and a winning deal for you.