Buying a foreclosure is not always the best way to go.

We have really been blessed here in the Kingsland and St Marys area. With the base here, we really do have a nice influx of people coming into the area. This fact helps us dodge some of the problems that bigger markets are facing. We do unfortunatly have our share of bank owned and short sale properties. The thing that most home buyers are finding out is that buying one of those properties does not always mean a good deal. Believe me when I say banks are not always rolling over and giving away these properties. Another point to ponder is that many times the old owner wasn’t exactly in great mood when they left the home. This is evidenced by the missing lights, appliances or other gifts they left the bank. In an effort to keep this from happening many banks are now working with the outgoing owner simply to ensure the home isn’t trashed on the way out the door.

I am finding that some of the best deals for my buyers are with homes that have  a seller that is no kidding ready to sell. This has the same benefit of searching thru the bank owned homes. Many sellers priced the home to high initially and have made very hefty drops in the price to catch the eyes of potential buyers. With a little research its pretty easy to see those homes that are offering more bang for the buck.

If you want to check out the bank owned option, here are some tips you may find useful

1. Be flexible with your timeline. Banks move at their own pace. Good ones will move quickly to work with you. Poor ones, well lets leave it at that.
2. Have your financing ready to go. You should do this regardless, but it becomes very important with bank owned.
3. Factor in the cost of closing and repairs. No guarantee that the bank will pay these for you.
4. Know the market that you are buying. Just because it seems to be a steal, make sure you are not buying a home that did not sale because of the neighborhood comps not supporting it.

I believe that this is a wonderful time to look at buying these properties. In fact, the overall economy depends in some part on these properties finding new owners. Do your homework and be patient. Call me anytime to discuss these 912-882-5194

or go to www.callcamdenhome.com for more Real estate info. Click here to recieve the St Marys and Kingsland foreclosure list. No obligation of course.