Buying Foreclosures
I don't have to tell you the foreclosure market is EXPLODING - the news is everywhere, all across the country including Northern Virginia. There are some tremendous opportunities in purchasing foreclosed properties. One of the best valued areas is right here in Prince William County.
Now is the perfect time to find an investment property or a new home. There are few ways we can make this happen. Each case is different so we will need to formulate a game plan specific to your individual needs.
We feel the market has bottomed out and purchasers are returning to the market. Competitively priced properties, in good condition, are moving very quickly.
I have put into place a program that will get my clients FIRST SHOT at these bank-owned, foreclosed properties.
Every investor knows that when dealing with bank-owned foreclosures, one needs a "Proof of Funds" letter or a "Lender Pre-Approval" letter before the bank will do business with us. So, the first thing we must do is get you qualified so we can then find a home, and send a qualified offer to the bank for consideration.
If you know of anyone else that may also be interested in buying a home under market value in the Northern Virginia area, please forward my number or website to them.
Ten Steps in the Homebuying Process
1. Qualification - What loan program and price/payment range? (Required by all sellers)
2. Search for Homes - Online and actually go see homes
3. Write an offer/offers - depends upon circumstances
4. Ratification - Buyer and seller agree to all terms
5. Home Insurance / Lender Docs
6. Inspections/Appriasal
7. Addendums
8. Transfer of Utilities
9. Final Walk Thru Inspection
10. Settlement - Sign the Documents and Get Keys to your new home.
These are the ten basic steps in purchasing a home. Depending upon circumstances, additional steps may be needed. The entire process always starts with getting qualified. Once we know what type of loan is best for your needs and your price range, then we can tell you what you really want to know. What will my payments be? How much do I need for down payment? What will the closing costs be? Can we get any assiatance from the seller? All these questions and many more can only be answered once we get you qualified. Now we are ready to find your new home and continue through the list. I pride myself on educating my clients throughout the entire homebuying process. I not only explain you what we are doing but why we do it.
Buying a home is, and should be an exciting time for you. I want you to enjoy your home search and understand just what is happening at all times. Many people try to make this process too complicated and mysterious. It really is a very simple process, yes, there are deviations sometimes, but that's what I do. I handle the problems so you can enjoy the experience of purchasing your new home. If you have any questions, please feel free to call me at 703-898-5939. Talk to you soon.
