Jolan, U R Home's Expert on Buying a foreclosure!
Jolan has traveled around New Jersey, Investigated on line, interviewed some people who had bought a foreclosure,and U R Home has helped a few people who were in need of expert knowledge in the Real Estate,Mortgage and Construction World.
Jolan says, Buying a foreclosure may not be the best plan when looking for a Home or Investment Property.
Joe's Advice Don't be fooled by the word Foreclosure!
It's true that buying a foreclosure may save you, The Buyer Big Bucks, there's no denying it.
It's also true that when buying a foreclosure depending on what the prior owner owed in taxes or other liens against the property that you may not be aware of, You as the Buyer may end up being responsible for paying.
Jolan told the New Buyers be careful of Foreclosures
A True Story and an example of what it may mean to buy a foreclosure.
One of our clients went to buy a foreclosure from a very well know mortgage company. During the attorney review, home inspections etc, it was never revealed that the Mortgage Company had never done Title search after they foreclosed on the property, and even after the property was put under contract. The Buyers did the title search and found a list of liens against the prior owner, the Mortgage Company/Bank would only clear the liens one at a time it took 4 months to finish this. During this 4 month period the BANK wanted our Buyers to close on a bad title with multiple liens, and if they didn't close by a certain date the Buyers would be fined $100.00 per day?
The banks often times don't care about whats owed to anybody else but them. Be careful watch what your doing have an experienced Agent Like Dave and The U R Home Family to handle these types of situations.
This Buyer had confidence in Dave and U R Home, he was understanding he waited and trusted in U R Home's knowledge and experience to help him and along with his Attorney this story has a happy ending. The Buyers didn't have to pay the $100.00 per day fine, the title was finally cleared and after a total of six months Jolan is Happy to report That Dennis the Buyer is the proud owner of a house to call Home.
Jolan has to point out that even though the story has a happy ending was it worth it?
Six months of Time,Money,Emotional Stress from the Bank, The purchase price was approximately $30,000 less than Market value. Most Regular properties NOT in foreclosure are priced below current market value. Joe says the choice is Yours, As the Buyer it's up to you, if you want to purchase a Foreclosure.
U R Home is happy to help, but as always will state that buying a home NOT in foreclosure is always the safest, best way to own a Home or Investment property.
Don't be fooled by the word Foreclosure,
Don't think Foreclosure means saving lots of money on your home or investment purchase.
Call U R Home Today tell them Joe sent you! You'll be happy you did!
Serving the Central Jersey Area!
http://www.urhomerealty.net/
U R Home Realty
PH:908-707-8900
Fax: 908-707-8917
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