Posted by: terryorealtor | September 14, 2009

Foreclosures in the Bay Area

Expect many more homes to come on the market in the near future and for at least a couple more years as bank owned…. There will be varying price ranges.

Whether an investor or owner occupant buyer I can send you a free list of available bank owned homes in various cities in the Bay Area.

Not all bank owned homes are great bargains. There is much to be considered. Do not expect the banks to pay for repairs or replacements. The banks usually want all contingencies removed within 10 days. They will allow for inspections for information only.

In some areas saturated with foreclosures the banks or investors are a little more lenient and may consider repairs etc.

Obviously all cash buyers or those buyers with at least 20% down are considered more often than not over those with FHA loans. Having said that with the FHA 203K Rehab loan it is all in how your offer is presented that may get the attention and acceptance of the bank and /or asset managers.

I can assist you in the purchase of any bank owned home of interest in a wide range of Bay Area Cities.


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