Get more home for your buck!
Owning a home to call your own is still the American dream. Unfortunately, many home buyers find themselves in the frustrating situation of discovering that the amount of home they can afford may not be all that they had hoped for. While some accept defeat and settle for less, others have found a market that allows them to purchase homes below market value, getting them much more home for their money than the traditional methods of purchasing a home. Read below to see how buying a foreclosure or short sale property could save you 20 to 50% during your next home buy. 

What is a foreclosure?
A home can be foreclosed on when an owner has missed payments on their mortgage and is unable to continue paying off their home loan to the bank. In this case, the bank takes ownership of the property, either through an agreement with the owner during pre-foreclosure or at the public auction and then, usually tries to sell the property to recover the unpaid loan amount. Because banks do not want to hold on to real estate, foreclosed properties can be bought from banks for less than market value. 

Call (360)312-5151 for a FREE list of foreclosures today! 

Why buy a foreclosure?
Buying a foreclosure can be a great way to purchase a home at just a fraction of its market value. Below are just a few reasons that homeowners and investors are flocking to the foreclosure market.  

What is a short sale?
In a short sale, the home seller arranges with their mortgage lender to accept a price that's less than the amount they owe on the property. As part of this arrangement, the lender typically agrees to forgive the rest of the loan and as a result, the seller doesn't have to go through a foreclosure, the buyer picks up a property at a discount, and the lender avoids taking on the burden of unloading the property.  

Call (360)312-5151 for a FREE list of short sales today! 

Why buy a short sale?
When you buy a short sale, you are buying it for the mortgage amount, and sometimes less, instead of the original purchase price. Plus, these homes are often better investments than a foreclosure because the owners still live in them, the yards are being maintained, and quite possibly, the interiors do not need much repair or remodeling. 

Preparing to buy foreclosures and short sales:
Foreclosure and short sale homes present a profitable investment opportunity for first time homebuyers, investors, and everyone in between. But, there are a couple of disadvantages that could make the transaction more difficult than that of a typical home sale. Make sure you are working with an experienced professional before making any offers so that you are well aware of what you're getting into. A few cons are as follows. 

Chris Weitzel & Associates – Your Local Foreclosure and Short Sale Experts!
Clearly, understanding the pros and cons of foreclosure and short sale homes will be critical to your ability to make a profit and find the home of your dreams. As a Certified Distressed Property Expert (CDPE), Chris Weitzel and Associates have the experience you need to successfully negotiate with banks and make sure that the final contract is in your best interest.  

For more information on how we can help or for a FREE list of foreclosure and short sales, contact us today!