A foreclosure is a Chandler Real Estate property that has been repossessed by the bank due to non-payment by the borrower. When the bank can legally sell these properties, they usually do so at a deeply discounted rate, or the home goes into auction and the house will go to the highest bidder. Troy Reeves, founder of the Troy Reeves Team, advises that fewer foreclosures are on the market now and if you want to buy one, you need to act fast!
Find an Agent Who Specializes in Chandler Real Estate Foreclosures
Agents like those who work for the Troy Reeves team have vast experience with Chandler Real Estate foreclosed properties. When using an experienced agent, they can advise on where the best properties are, how to bid on an auction property, and advise you about making a final decision on a home. Professionals in Chandler Real Estate have been through this process before with many clients and know what to look for and how to spot red flags.
Be Realistic About Selling Your Current Chandler Real Estate Home
This does not apply to first time Chandler Real Estate buyers, but current homeowners need to be realistic about how quickly they expect to sell their property. Foreclosures sell fast and if you are not ready to buy, most of the properties you view will be gone when you are ready. If you need to sell your house first, wait until you have a hard offer before starting your search for foreclosed homes.
Do a Thorough Inspection of all Chandler Real Estate Foreclosure Properties
One of the biggest problems with buying a foreclosed home is that people may not know what they have gotten themselves into until it is too late. Chandler Real Estate foreclosures are sold “as is” and unlike personally owned homes, the bank is not going to repair anything before or after purchase. For this reason, it is advisable to hire a certified inspector and/or building contractor to thoroughly inspect the home for mold, structural damage, electrical problems and other issues which the untrained eye may miss when viewing Chandler Real Estate properties.
“by Kandice Linwright” at Google
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