About The Broker






Featured Listings

Local Market Statistics

real-time real estate market research



Virtual Tour Inventory WidgetGet Adobe Flash Player

__________________


eNewsletter Sign Up



Mortgage Calculator


Local Resources

Categories

Archives

Five Rules for Buying a Foreclosure or Short Sale with Confidence

Five Rules for Buying a Foreclosure or Short Sale with ConfidenceThe Rule Book

(ARA) – Buyers are still clamoring for real estate deals in this turbulent market. Foreclosures and short sales offer some of the best bargains, but also have a higher risk level. Still, more than four in five adults think foreclosures and short sales can be good deals, according to a recent American Society of Home Inspectors (ASHI) survey.

Some analysts say the rebound has begun and home prices may rise by the end of 2012. This means now may be buyers’ last chance to take advantage of affordable properties and low interest rates. If you want to score a bargain before the housing market recovers, you’ll need to follow a few rules to invest with certainty.

Make a wise investment by adhering to these five rules while shopping distressed properties:

Rule 1: Position yourself for success

Before starting your search, get preapproved for a mortgage so when a good deal presents itself, you’re positioned to submit a bid right away to be the first offer on the bank’s desk. Work with an experienced real estate agent who can help guide you through the daunting sea of foreclosures and short sales. Bidding can be complicated and time-consuming, especially when working with a home sale needing bank approval. A good agent will know how to navigate through the paperwork and red tape.

Rule 2: Do your research

A real estate agent can help you with research, but it’s wise to do some on your own. Are there any undisclosed liens on the property? Is the seller behind on his property taxes? What permit records does the city have on file? This information will be critical during decision-making. Work with your agent to ensure the contract requires any delinquent taxes, liens or assessments will be paid prior to you taking ownership of the property.

Rule 3: Always get a home inspection

Eighty-four percent of adults surveyed by ASHI said they would be more likely to purchase a distressed property after a home inspection has determined its condition.

A home inspection gives you the confidence to move forward with your purchase because you’ll have as much knowledge as possible about the condition of the property. An inspector will visually examine the condition of the home’s roof, attic and insulation, foundation, basement and structural components, as well as interior plumbing and electrical systems. Be sure to find an ASHI-Certified Inspector (ACI) to ensure your inspector is experienced, as many states have minimal licensing requirements. To find a local ACI, use ASHI’s “Find an Inspector” tool on www.ASHI.org.

Rule 4: Budget for repairs

When looking at short sales and foreclosures, remember price is only one aspect to consider. A home will almost always require some type of repair. After receiving your inspection report, you can estimate costs associated with necessary repairs, maintenance or energy-efficient improvements.

Rule 5: Assess the neighborhood

Location should be a top consideration when purchasing real estate, and in a tough housing market, it’s even more important. A home has limited worth if it’s located in a less desirable neighborhood. High foreclosure rates can turn a once-desirable neighborhood into one many might likely avoid. These locations are likely to see a slower recovery than more populated or favorable areas less affected by the economy. Make location as important as price when making a purchase decision.

Protect yourself with knowledge and expert advice to make a confident, smart decision about your largest investment.

I hope this information is useful to you. Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

  1. roofing austin texas

    Link exchange is nothing else however it is simply placing the other
    person’s webpage link on your page at appropriate place and other
    person will also do same in support of you.

  2. short hairstyles

    I like reading through a post that can make men and women think.
    Also, thank you for permitting me to comment!

    Feel free to surf to my homepage :: short hairstyles

  3. virtual hairstyles

    Does your blog have a contact page? I’m having trouble locating it but, I’d
    like to send you an e-mail. I’ve got some suggestions for your blog
    you might be interested in hearing. Either way, great website and I look forward to seeing it grow over time.

    Stop by my website … virtual hairstyles

  4. hemorrhoid treatment device

    Appropriate temperatures for this therapy vary from
    95-100 degrees Fahrenheit, or 38 to 40 degrees Celsius. * Mix one desert spoon of vinegar into one cup of lukewarm water and apply with cotton wool swabs,.
    Intimately connected to irregularity, is to fend off
    straining and to apply cushy toilet paper.

  5. 3 Days to Kill Telecharger

    Hi! Quick question that’s totally off topic. Do you know
    how to make your site mobile friendly? My blog looks weird when browsing from my apple iphone.
    I’m trying to find a template or plugin that might be able to resolve this problem.

    If you have any suggestions, please share. Thank you!

    Visit my web site 3 Days to Kill Telecharger

  6. Watch Noah Full Movie Online

    Supermodels Alex Lundqvist, Tyson Ballou, Noah Mills, and Adam Senn.
    Emphasize the theme by using real stuffed animals as book ends.
    Also, Lot was raptured of Sodom before the judgment upon that city.

  7. Dry-Erase board paint

    Countless whiteboards are thrown out on a regular basis because eventually, they become
    worn and unusable. very nice looking and functional decoration for
    the kitchen. The answer lies in the little-used whiteboard on the wall.

  8. caliber pllc

    I’ve been surfing online more than 2 hours today, yet I never found
    any interesting article like yours. It’s pretty worth enough for me.
    Personally, if all webmasters and bloggers made good content as you did,
    the internet will be much more useful than ever before.

  9. sound proof paint

    The minimum recommended amount is 2 of the 29 oz tubes per 4.
    Vehicle audio systems are reasonably priced and one particular
    can have the choice of getting anything at all that fits their spending budget.
    They should also only require the processing power that you home computer can provide.

  10. Click here

    I was excited to discover this website. I want to to thank you for your time
    due to this fantastic read!! I definitely enjoyed every part of
    it and I have you saved as a favorite to see new information on your website.

    my site Click here

  11. junk removal Philadelphia PA

    Google would prefer that you use Gmail on your Android
    smartphone, but what happens if you have more than one account.
    Junk removal Burnaby services can be enjoyed in a very harmonious and affordable manner by taking help of professional
    junk removal companies. These products make the huge garbage an in such cases for putting the environment as friendly it is essential for such business areas to get connected with eth junk removal companies at every stage.

  12. Learn This Here

    Nice post. I was checking constantly this blog and
    I am impressed! Extremely helpful information specifically the last
    part :) I care for such info a lot. I was seeking
    this certain information for a long time. Thank you
    and best of luck.

    my homepage :: Learn This Here

  13. Gluten Free Society site internet

    Foods from the grocery store might last you all month, whereas the organic versions of those
    same foods at the health food store may only last you
    half the month. Which is a moist, fertile land in and around Western Asia, the Nile Valley and the
    Nile Delta of Northeast Africa. The more pronounced this process
    gets, the more serious the digestive issues grow into.

    My site Gluten Free Society site internet

  14. vessel

    Write more, thats all I have to say. Literally, it
    seems as though you relied on the video to make your point.
    You definitely know what youre talking about, why throw
    away your intelligence on just posting videos to your site
    when you could be giving us something informative to read?

  15. Edwin

    Hi to all, since I am actually eager of reading this blog’s post
    to be updated regularly. It contains good material.

  16. site de rencontre

    Hey I know this is off topic but I was wondering if you knew of any
    widgets I could add to my blog that automatically tweet
    my newest twitter updates. I’ve been looking for a plug-in like this for
    quite some time and was hoping maybe you would have some experience with something like this.
    Please let me know if you run into anything.
    I truly enjoy reading your blog and I look forward to your new updates.

    Look at my weblog site de rencontre

  17. contacts for this article writing video are here

    WOW just what I was looking for. Came here by searching for
    buying

    Feel free to surf to my web page :: contacts for this article writing video are here

  18. how to install 7 zip

    Hi there mates, its enormous piece of writing about teachingand entirely defined, keep it up all
    the time.

    Feel free to surf to my web page; how to install 7 zip

  19. jungle heat hack download No survey

    I can tell you that those of us who didn’t
    go AWOL and flee to Sweden were turning into a mighty mean, steely-eyed group of 80 pound
    warriors. A cat jumped into Weeja’s lap, and he smiled broadly, petting
    it and interrupting his dissertation to give complete attention to the animal,
    as if his talk was not the least bit important compared to the little creature that was now his center of interest.
    Thalassotherapy and Hydrotherapy – These water-based treatments are both active and relaxing.

  20. stop and stare

    Hi there! I know this is kinda off topic but I was wondering which blog platform are you using for this
    website? I’m getting fed up of WordPress because I’ve had issues with hackers
    and I’m looking at alternatives for another platform.
    I would be fantastic if you could point me in the direction of a good platform.

  21. Bonny

    whoah this weblog is great i like studying your articles.
    Staay up the good work! You understand, a lot of people
    are hunting round for this info, you can aiid them greatly.

    My weblog :: Dwayne Johnson Workout (Bonny)

  22. Wireless headphones

    It’s an awesome post in support of all the
    online people; they will obtain advantage from it I am sure.

    Here is my website – Wireless headphones

  23. Skin Whitening Forever Review

    Hi there colleagues, how is everything, and what you desire to say regarding this post, in my view its really awesome in support of me.

  24. go

    I was suggested this blog by way of my cousin.
    I’m now not sure whether or not this post is written through him as no one
    else realize such specified approximately my problem.
    You are amazing! Thank you!

    Feel free to surf to my webpage go

  25. Digi-mori.com

    I enjoy what you guys are usually up too. This kind of clever work and coverage!

    Keep up the awesome works guys I’ve incorporated you guys to blogroll.

    Feel free to visit my blog … Digi-mori.com

  26. Clenbuterol

    Anabolic steroids and andros are banned in the Olympics,
    professional football, and school athelitics.

Leave a Reply

Copyright © 2008 Whats The Point of Aventura?     Log in     Design by Real Estate Tomato     Powered by Tomato Blogs



Michael Solovay on Zillow