Buying a Foreclosure
Seller paid closing costs when buying a bank owned home
You may be thinking of purchasing a bank-owned foreclosed home and wondering if the bank seller will pay the closing costs associated with the sale. Closing costs can include various items such as title insurance, transfer taxes and a host of lender fees. Closing costs can often add hundreds, if not thousands of dollars, to […]
What is a pre-foreclosure on Zillow?
When looking for homes on Zillow, you are likely to find listings termed as “pre-foreclosure”. Pre-foreclosure is one of the property types that is different from a standard for sale or rent listing. Other unique property types includes auction and foreclosure. These listings can be confusing as they are often not available for sale through […]
Pre-foreclosures: buying a pre-foreclosed property
What is a pre-foreclosure? The term “pre-foreclosure” is used a lot on property websites and in the foreclosure process. So what is a pre-foreclosure? Simply stated, a pre-foreclosure is in the process of being foreclosed by a lender. The foreclosure process has been started but is not completed. The foreclosure process varies by state. Stakeholders […]
Community Questions: Pre-foreclosures
A reader of The Bank Foreclosure Guide site ask: “If a home is pre-foreclosure, how can we see the home, and/or make a bid on the home? I am a real estate agent that one of my regular customers has asked about. “ Basically, the answer is the only person that can agree to showing […]
Where are all the foreclosures?
As real estate investors, we have been spoiled with almost a unlimited pipeline over the past decade of decent acquisition opportunities. Most of these homes were bank owned and have suffered from neglect throughout the foreclosure process. Easy fix-and-flip candidates as well as fix-rent properties seemed to be prevalent in many areas. These opportunities have […]
Repaired Foreclosures
Some banks repair their foreclosure assets prior to selling them. Not all foreclosures are in poor condition. Learn more about repaired foreclosures for sale and which banks are most likely to do the work prior to sale.
Foreclosure Sales: The Parties Involved
Sales of foreclosed homes involve more parties than a traditional real estate transaction. Traditional real estate transactions Let’s take a look at the most simple of real estate transactions. If you were buying a friends home, there would be two individuals involved in the sale: you (the buyer) and your friend (the seller). You would […]
Foreclosure Asset Managers
Isn’t an Asset Manager the person you use to help manage your money? Well, not in the foreclosure business. What is an asset manager? An asset management company in the foreclosure business is a company that the owner of the foreclosed property hires to basically do all the work in selling a foreclosed asset. The […]