HOW TO BUY A BANK OWNED HOME
1. Figure out how much you can afford
What you can afford depends on your income, credit rating, current monthly expenses, downpayment and the interest rate. In order to bid on Fannie Mae Homes you need an mortgage approval letter from your lender if you are financing and proof of funds if you are paying cash for your property.
2. Choose a real estate agent
Most banks accept offers and bids only from real estate professionals. If you don't have an agent I can provide you with the assistance you need to purchase you next best investment. Click here to see why I should be your agent.
3. Select a property
From the bank's inventory select the property that best satisfies your needs and wants. Visit the property to check its condition and to make sure that it does satisfy your criteria. To see what properties are available in your area click here.
4. Make an offer
Your real estate agent will assist you in the preparation and submission of your offer. If you don’t have an agent I can assist you in the preparation and submission of your offer. Click here to see why I should be your agent.
5. Inspect the property
Once your offer is accepted the seller gives you 10 days for home inspections. During the inspection period you should check for the following aspects: Cosmetic condition, structural condition, appliances’ functionality, air conditioning, roof, termites, code violations. For your peace of mind it is recommended that a licensed qualified professional do this type of inspection.
6. Proceed to closing
Your real estate agent will guide you through the closing process – escrow deposits, title documents, associations’ approvals if needed and the settlement statement. If you don’t have an agent I will walk you through the closing process making sure nothing is overlooked. Click here to see why I should be your agent.
7. Rent your new investment
Congratulations!! You did it. You add another property to your real estate portfolio. The next step is to rent it to the best available tenant at the highest possible rental price - a task that is professionally handled by your real estate agent. If you don’t have an agent I can rent your new investment to A+ tenants at the highest rental price possible. Click here to see why I should be your agent.
What you can afford depends on your income, credit rating, current monthly expenses, downpayment and the interest rate. In order to bid on Fannie Mae Homes you need an mortgage approval letter from your lender if you are financing and proof of funds if you are paying cash for your property.
2. Choose a real estate agent
Most banks accept offers and bids only from real estate professionals. If you don't have an agent I can provide you with the assistance you need to purchase you next best investment. Click here to see why I should be your agent.
3. Select a property
From the bank's inventory select the property that best satisfies your needs and wants. Visit the property to check its condition and to make sure that it does satisfy your criteria. To see what properties are available in your area click here.
4. Make an offer
Your real estate agent will assist you in the preparation and submission of your offer. If you don’t have an agent I can assist you in the preparation and submission of your offer. Click here to see why I should be your agent.
5. Inspect the property
Once your offer is accepted the seller gives you 10 days for home inspections. During the inspection period you should check for the following aspects: Cosmetic condition, structural condition, appliances’ functionality, air conditioning, roof, termites, code violations. For your peace of mind it is recommended that a licensed qualified professional do this type of inspection.
6. Proceed to closing
Your real estate agent will guide you through the closing process – escrow deposits, title documents, associations’ approvals if needed and the settlement statement. If you don’t have an agent I will walk you through the closing process making sure nothing is overlooked. Click here to see why I should be your agent.
7. Rent your new investment
Congratulations!! You did it. You add another property to your real estate portfolio. The next step is to rent it to the best available tenant at the highest possible rental price - a task that is professionally handled by your real estate agent. If you don’t have an agent I can rent your new investment to A+ tenants at the highest rental price possible. Click here to see why I should be your agent.
Resources
The purpose of this site is to provide you with information and resources that will help you find your next best investment. I hope you find this information helpful and useful. If you have questions about Bank Owned Homes contact me here or click the contact me tab. With my twenty eight years of real estate experience I will assist you in getting your next best investment.
The purpose of this site is to provide you with information and resources that will help you find your next best investment. I hope you find this information helpful and useful. If you have questions about Bank Owned Homes contact me here or click the contact me tab. With my twenty eight years of real estate experience I will assist you in getting your next best investment.
BEST INVESTMENTS
There are hundreds of distressed and foreclosed properties available for sale and most of them are good opportunities for investors to consider. However some of them are a better choice than the others. To see the hottest and best opportunities available in South Florida click here or below.
There are hundreds of distressed and foreclosed properties available for sale and most of them are good opportunities for investors to consider. However some of them are a better choice than the others. To see the hottest and best opportunities available in South Florida click here or below.
INVESTORS
You can benefit from today’s market conditions becoming a member of my team. Become a member today and start investing in income producing properties.
You can benefit from today’s market conditions becoming a member of my team. Become a member today and start investing in income producing properties.
This site is courtesy of Henry Diez “Your preferred Realtor of choice”
For all your real estate needs visit www.henrydiez.com
Assisting buyers and sellers since 1995
For all your real estate needs visit www.henrydiez.com
Assisting buyers and sellers since 1995
Quality Service Realty, Inc.
6555 NW 36 Street Suite 300 Miami FL 33166
Telephone 305-298-8184 / Email: [email protected] / www.henrydiez.com
6555 NW 36 Street Suite 300 Miami FL 33166
Telephone 305-298-8184 / Email: [email protected] / www.henrydiez.com