Tips for Maryland Foreclosures Buying
When to LOW BALL an Offer . . .
For most first time homebuyers, making offers on foreclosures is a dreadful experience. When I first start working with a buyer that is looking for foreclosures, I try to give them real and practical information about foreclosures purchases.
The question I get most is about LOW BALL offers.
How low will the banks go?
First of all. . the important thing to remember is that you should be working with someone that has experience in how to negotiate with banks.
Most banks aren’t that motivated to sell their properties for 30 cents to the dollar. They know the real value of their property and they will accept a price within reason.
When to LOW BALL an OFFER?
Has the desired property has been in the market for over 100 days? . That’s one requirement
How aggressive is the bank with the price. I observe the history of price changes and the amounts. .obviously if the price changes are frequent. . it is a desire that they to sell fast
How clean are the Bathrooms and the Kitchen?
If the kitchen and the bathrooms of the property are filthy and disgusting. .. then you will be able to get that property at a major discount.
Most buyers want to buy a property that they are comfortable with the condition to bring their families in to live.. .if you can overlook this fact .. you can literally “steal” a property.
Does the property need major repairs?
The more repairs needed the less completion among buyers.
Most people want the easy stuff. . clean it and just move in.
If you are looking for a bargain, you should be expecting to do some work on the property.
Working with one of our associates to help you buy a foreclosure in today’s market is a good move. . give us a call, we can help you find a bargain .. because we know where they all are!
Call us directly at 240-426-5754
If you are 3 months from purchasing , please contact us and ask for our personalized service that will include detailed research for potential FORECLOSURES, VA, REHABS, SHORT SALES and HUD properties that maybe available in your area of choice.
"Why pay for a list of foreclosures when you can get it for free?"
Need help to find a bank owned property right now.? . call us 240-426-5754
Foreclosures in Maryland