Buying a home, especially for first-time buyers, can be a bit tricky. Since the market prices for most homes are getting even higher by day, it is wise to get hold of a professional real estate agent to walk you through the process of buying a home. Getting a cheap home can take you ages, but a real estate agent can help you identify quality homes that come as distressed homes. These are homes that have been foreclosed on or are on short sale. Today, the housing market is a bit challenging, and most homeowners in Decatur and Huntsville, AL area are really feeling the heat. Now is a good time to consider buying a Foreclosure Decatur AL home from a distressed seller who is out to repay his or her mortgage loan.
While distressed homes are relatively cheap, the process of buying them can be laborious and cumbersome. You need the help of a realtor to help identify the best property. Homes that are on short sale or foreclosure come on an “as is” basis, meaning that the buyer takes all the responsibilities of repairing the home. Neither the lender nor the distressed homeowner has the responsibility of amending the home before you pay. Before concluding a transaction for a short sale, the lender must issue a pre-approval letter to the borrower (homeowner) before he or she accepts the offer from the buyer.
Usually, there is little or no negotiation when it comes to buying a home on a short sale. Realtors have a long working relationship with most mortgage lenders, meaning they can facilitate the process of issuance of a pre-approval letter, which is a primary document that sets off the buying process. You get fantastic prices on foreclosures and short sales, but it requires you to evaluate many homes before you can get the best home that are looking for. Buying Foreclosure Decatur AL homes also involves a lengthy process of writing numerous offer letters since it is not certain who or when the seller will accept your offer. The good thing is that realtors who have the experience can help you find the best home from their expansive listings. They know which homes are vacant, which ones are most likely to be sold immediately and by whom. Find more information.
