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5 Tips To Close On A Foreclosure

Closing on a foreclosure is not as easy as it seems. Remember these tips and you will be ready to go to closing.

  1. The owner is a bank

  2. Know that you are dealing with a bank, they have no emotion towards the property, it’s just a file number. At the end of the day they just want to make a profit.

  3. Cash is king

  4. Banks are more open to selecting an offer when you are paying with all cash instead of financing

  5. Do your homework

  6. Foreclosures are sold as is, have an experienced professional inspect the property before you put in an offer in (roofer, carpenter, termite, etc)

  7. No contingencies

  8. remember it's sold as is and it's on you to decide before you put in an offer if you can deal with any issues and most banks will not accept any contingencies in a purchase agreement.

  9. Know your terminology - Highest and best

  10. When a property has multiple offers they will ask for highest and best, which means bring your best offer, which can be at or above asking price

Ready to buy your LowCounty Foreclosure? Contact me today:

Christopher H. Curry Realtor ® - Brokers Real Estate

Office - 843.837.6080

Cell - 301-467-4651

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