Finding foreclosures, REO (bank owned) properties requires skills and perseverance. I submitted an offer to HUDhomestore.com seven times before I was able to get the home at 60% of value.
The house, like so many homes needing rehabbing, does need work, a new roof, new carpets, drywall work and of course the house has termites. But the work will get done and when it is done, will offer to a new homeowner a great place to live.
Many folks are looking for great deals. With a little work, the new family gets a great value and our neighborhoods get a great home with concerned homeowners, not renters.
With over ten years experience as an investor and two years as a Texas real estate agent working for Success Realty of Texas LLC, I understand what it takes to find properties and turn them around.
The first goal of buying a foreclosure is understanding what you can do. Are you willing to paint, get new carpet, flooring; this all is easy. But what about water damage from a bad roof, or mold. Not a lot of mold but just enough to cause some folks to get scared away. You need to start building a team of folks to help you make sure you buy what you can manage.
Next get preapproved for a loan. Find a lender who is willing to work with you in your quest for a REO property. Remember you need to have the money for the rehab. Most important, be careful that you do not go overboard on what you can afford, plan right and the home can be a great value in the future for your family.
After you know what you are willing to do and have the funding letter, the next part is finding the home for sale that meets your goals. Real estate sales happen everywhere, but you have to know where and what to look for. Our website has both MLS listing and foreclosure listings on it for free to help you find what homes to start looking at, just go to http://www.AlamoFinders.com and start looking for your next dream home.
There are lots of real estate agents in San Antonio, some just cover new listings, luxuries listings, and some just answer the phone. We at AlamoFinders.com understand traditional real estate sales and foreclosure sales. We have worked with Bank of America, Chase, Wells Fargo, Fannie May, (HomePath.com)
For more information on buying foreclosed homes please visit http://AlamoFinders.com for details.