Foreclosure, short sales

1. 7 Key Steps To an Amazing
Foreclosure Home Purchase
• You can Save Big $$ buying a
foreclosure
• Take those ideas to any
Realtors
• If you can’t do this, you’ll
waste months and months
of time and money.

2. Foreclosures Are Your
Opportunity To $avings
• You have be aware of the
pitfalls
• Being Hasty can cost you Tons
of $$
• Good deals go fast, so be
ready to act if you like the
home.
• You can save 20-30% of
current market value if you
are prepared!

3. Key Step #1
Look for Overpriced Homes
Crazy? Yes but it works
• Banks or Seller overprices
home
• On the market for months
• You make an offer, bank
takes it fast
• Example: 1.1 Million House
sells for $360K only offer on
home

4. Key Step #2
Can You Make Repairs?
• You buy a home for $150K
(Value is $200K, invest
$10K in repairs.. Savings
of $40K
• Will take some work on
your part, though how
long does it take you to
save $20,000?
• Example: Buy a home that
would cost $900K to build
for $300K

5. Key Step #3
Do Buyers Want The
Neighborhood?
• Good Neighborhood = long term
appreciation
• Does it have good school zones?
Close Shopping?
• Lots of Foreclosures
• Builders still building?
Example: One area of town EVERYBODY wants.
Though it has LOW appreciation because more people
retire to this area of town.

6. Key Step #4
Financing
• Be Pre-approved for your
loan
• Or Pay Cash
• Bank Homes require CASH or
a VERY firm pre-approval
• Banks will sell a home for less
money IF they know the
buyer is A+, they care about
getting money quick instead
of MORE $$

7. Key Step #5
Make an offer at the
end of the month
The banks have deadlines
• Goals to sell certain amount
of homes each month
• Get paid bonuses based on
how many they sell
• November and December is
one of the best months to buy
ANY type of home… Bank or
Non-Bank

8. Key Step #6
Read Between The Lines
Bank Agents are overworked
• They don’t put FULL details on
the listing information
• Less pictures, less info
• Drive by the outside and check
it out yourself
• See if it’s a “Diamond in the
Rough”

9. Key Step #7
Stop Getting Shoved Around
by the Bank
Also Consider Normal Homes in your search
• Most sellers understand they have to
compete with Bank Owned Homes
• NON-Bank owned sellers will consider
offers also
• Make sure your agent brings in a good
Market Analysis to prove your offer

10. Why are we providing this
information at No Cost?
.
We want to make sure you get a GOOD deal no matter
who you work with as your Realtor.
I thought to myself…
“IF I get this information
into the marketplace,
everybody wins!”
Though don’t forget, selling homes is our passion and how we pay our
bills. So if you would like help in buying a foreclosure give us a call.