Foreclosure and Short Sale Buying Tips

You'll find a brand new page on our site today called Tips for Buying Foreclosures and Short Sales .  This page features some excellent advice written by specialists in this field on what to remember when purchasing a these types of properties.  Buying them can be a great deal if you know to look out for the pitfalls that unfortunately many buyers face.  Remember, if you're considering the purchase of one of these properties to use a specialist in this area.  At River City Real Estate we have these specialists on staff ready to assist you.  They do not charge any additional fees to represent you in these transaction and unlike many other large brokers in the area, we do not charge broker administrative fees or transaction fees.

Featured Foreclosure Buying Tip: Know if a Municipal Inpsection is Required - the foreclosure company will not under any circumstances unless required by law provide the Buyer a occupancy inpsection or fix the repairs requested.  Therefore it's important to factor this into your bid.  There are often times 100s-1000s of dollars in required repairs for these inspections.

Featured Short Sale Buying Tip: Be Prepared To Wait - While some smaller lenders are giving approvals within 14 days, many larger lenders are taking much longer.  As indicated in a previous post about Countrywide it can take as long as 120 days.

You might also be interested in : What Is A Short Sale?