Foreclosure Education - Buying Foreclosures

If you are a real estate investor or homebuyer who wants to purchase a Tucson Foreclosure there has never been a better time to purchase real estate that is bank owned – we have tremendous bargains available.

Quick Action Plan

• Identify the Property or Home
• Inspect the Property
• Title Research
• Negotiate
• Make Offer
• Financing

1. Identify Property or Home – we can work with you to identify the right property or home or you can Search our MLS Listings, which feature a section of Foreclosures.

2. Get Title Research - once the right Tucson Property or Home has been located we will do a thorough Title Search on the property that you have identified.  You want to be sure there are no liens on the property that have not been cleared prior to the completed transaction.

3. Negotiate – be prepared to negotiate a lower down payment, reduced interest rate, lower asking price and/or even a reduction in closing costs. Many vendors may be willing to waive some of the closing costs or offer a reduction on the down payment or interest rate.

4. Making the Offer – most banks today have a lot of Tucson Foreclosure inventory they want to sell, but the final price is impacted by the number of offers, the amount of inventory the bank has, location and condition of the property and other intangibles. Experience has taught us, even if the listing agent at the bank has indicated the list price is firm, there still may be room to negotiate on behalf of our clients. Don’t be afraid to let us negotiate on your behalf.

5. Financing – it is critical to make sure your financing is in place prior to making an offer; or, you have no chance of buying a Tucson Foreclosure. If you have good credit many banks will loan the full price of the Tucson Foreclosure, although this can vary by individual bank. Some banks may only require a 10% down payment and if you are a Foreclosure Investor with a large amount of equity in another home you may be able to arrange a substantial line of credit.