First Time Buyers Guide to Foreclosures in Bothell, WA | Real Estate ...

I?m a Real Estate Broker and the Owner of Washington Realty Source. Over the last few years I?ve become a specialist in my area. I specialize in helping first time buyers and investors quickly locate the best deals on foreclosure properties in Bothell, WA. Over the last few years I?ve written and presented hundreds of offers for buyers on foreclosure properties. I?ve become very familliar with the things that catch most buyer by surprise, as well as the common types of foreclosures available in the area, and I?m going to go over those with you now.

First, the things that most people don?t expect:

Unfortunately, 3-7 day response times are normal, whereas an offer written to a private seller will likely be answered tomorrow. When you wright an offer on a foreclosure, get comfortable. Its not uncommon in Bothell to wait a week before you hear back from Fannie Mae or Freddie Mac on some of their homes.

Foreclosures are sold as-is. Many people like to do a home inspection and then negotiate a lower purchase price based on the inspection findings. If this is what you?re planning, prepare to be let down. In most cases foreclosure sellers are not likely to repair a home unless they?re required to do so by your lender, and even then they may choose not to. If your lender requires repairs it could cost you the home if you don?t have cash available to make the required repairs.

No, I?m sorry, there are no keys to your mail box and I don?t know where the garage door opener is. When a home lost in foreclosure the last thing people think about is ?where should I leave my keys?? Thankfully, universal garage door openers are cheap and easy to get. And since locked mailboxes are usually found in condos and planned communities, you can usually get a copy of your mailbox key from the president of the H.O.A.

There are 4 primary sources of foreclosure properties in Bothell, WA, and they are:

Fannie Mae properties are best know for having their own financing options available, and for allowing for down payments as small as 3%.

Freddie Mac foreclosures are usually sold with a 2 year home warranty paid for by the Seller.

Bank Owned Properties include homes listed by Bank of America, Chase, Wells Fargo and many others. They are usually sold as-is as well, and are lumped in with foreclosures since they are ?foreclosed homes,? and because they offer the same level of savings that you would get from other foreclosure properties.

HUD Homes are not government owned or foreclosures. Even though technically they are owned by the government and they were acquired through foreclosure. HUD is worried that referring to their properties as being foreclosures, government owned, or affordable would show their properties in a negative light. Despite this silkiness I happen like HUD homes because some of them come ?insured with escrow.? This means that you do not have to worry about a home being rejected by a lenders appraisal because HUD has already had an appraisal completed.

Despite the additional hurtles to dealing with these types of properties, they still represent an average savings of $20,000 verses buying a privately owned home. In Bothell Washington, these are the best deals to be had.

free agents nfl 2012 milwaukee bucks bear grylls us news law school rankings gael glen rice jr bars

jenelle evans jenelle evans the voice google play franchise tag lesotho a wrinkle in time