Newark area real estate
Looking to Purchase?
Let me start by saying that it is impossible for me to include here everything I
have learned in 30 years of selling foreclosures. I will simply touch on some
topics to contemplate and leave the details for a one-on-one conversation. The most important
point is to consult an agent who thoroughly understands bank-owned houses and
everything that will be taking place during the foreclosure buying process.
How one approaches the process of making an offer on a foreclosure will be
influenced by the home itself. Regardless of the house, there are multiple
items to consider. For example:
* inspections- which and when?
* Seller/bank addendum- buyer responsibilities?
* Agreement of Sale contingencies- which?
* offer amount- how much?
* down payment- how much?
* Seller financial assistance- available?
* Buyer financing- which program?
* local municipality- requirements?
* settlement- fees?