BUYING FORECLOSURES CAN BE FUN AND EXCITING! 

Interest rates are at an all-time low, and house prices have dropped markedly, so there are opportunities galore for someone looking for a bargain!  Short sales are not the best way to find a bargain, as it may take many months for the lender to respond and then you still may not come to an agreement.  Foreclosures are the best opportunity to buy at an awesome price, the bank already owns it and the mass of paper work has been done, so you can close rather quickly on these deals.  Cash is king, but you can still purchase a foreclosure with financing, just have your pre-approval letter in hand to submit with the offer.  Make your offer as clean as possible, understanding the property is being sold “as is” but you can still have inspections.  If a house is a real bargain, there may be multiple offers on the property so give it your best shot at the beginning, there are no escalation clauses or opportunities to raise your offer once it has been submitted.   Cash, clean and quick is the key to getting a house for a real bargain!  Your agent will have limited access to information on the property, so you must understand it is at your risk when you buy a foreclosed property.  However, it can pay off in the long run!  Happy house hunting!