People always say, how does a foreclosure sell quickly in the “market” we are in. It is quite simple. When a foreclosure hits the market, is in relatively good condition and is priced well, it will sell, quickly and more times than not, for a price higher than what it was listed at.
If it seems like a good deal, most of the time it is and you are not the only one out there looking for that good deal. Here is why you more than likely didn’t get that “good deal” or won’t get the good deal. You may not have been ready to purchase that home and the person who did buy it, was simply ready and willing to make that offer as soon as they looked at the house.
What you can do is be ready to buy the next one when it hits the market. And by the way, another will come along that will be a “smoking deal”. If you need to sell your house you are living in to purchase the “deal” when it comes along. You need to sell your house now, and not later and not when you find the next home. More times than not, people only try to sell a home when they see the next home they want to buy. Although this sometimes works. Most of the time you will be disappointed because you will miss out.
My opinion, put your house on the market now if you need to have it sold to make the next transaction. If you don’t need to sell your home to buy the next deal. Then you should either be ready with a statement from you bank that you have the funds available to purchase the next house or have a pre-approval letter from your bank that you are able to lend the money for the purchase of the house you are looking at.
Keep in mind that when a foreclosed property hits the market, the bank who owns the home does not want to sell the home with contingencies. Especially contingent on selling your home. I have not seen any properties sell this way in the Bemidji area and don’t expect it in the near future either.
If you want to find a great deal, give us a call. We can help you out and make it as painless as possible.
If you have questions on the process or are ready to get a deal for yourself. Give us a call and we can help you out or answer any of your questions.
Doug & Melissa Hoover
Counselor Realty of Bemidji
218.766.5588 Doug
218.556.4604 Melissa
Bemidji Home Search (Doug Hoover)
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