Are you Interested in Bank Repos and foreclosed properties ?     Or are you looking for a good deal on a home in Lake Havasu?  Looking for investment property  ?  Or  just searching for a home that meets your specific criteria ?

I'll create your own personal shopping cart that will include those listings  that will meet with whatever criteria you decide on.   It's easy to use, non invasive and provides great detail on each property.  Plus it gives you alerts when something new comes on the market  so you don't miss out on good deals. 

 Just send me an email message with your email address and / or other contact information and I'll create for you --- Your own personal link to see all the Bank Repos  or other homes currently on the market in Lake Havasu City.    ** Include any specific information on what  you are most interested in.  ie:  size, age, garage spaces, pool yes or no, a price range, etc.   

** this information is selected from ALL properties listed for sale in Lake Havasu.

my email is   robeets@robeets.com   or call my cell for instant access  929-486-4835

But wait it gets even better. 

This Personal "cart"  I'll create for you will automatically notify you by email  when new Bank Repos or a property that meets your needs  come on the market.   Then whenever it's convenient for you to take a look at your "cart" you can simply  login and check out the latest information.  Information in the cart includes pictures, detailed information, even the address.

 How to Buy  Bank Repos and Foreclosed properties. 

You'll need to do some homework in order to make an offer on a bank repo. 

You must provide a prequalification letter  from a " reasonably known" lender.  Some even require a specific lender for the prequalification letter.  ie:  Countrywide Home Loan Company.   See information below about property "conditions" required by your lender.

That doesn't mean that's the lender you'll  have to use to get your loan.  But  if required by the bank/owner you'd still need to prequalify with that lender to submit your offer.    If your offer is accepted then you'd have 5 days to select the actual lender you are going to use and get to work on getting your loan application going.  

I advise you to get prequalified  so that this prep work  is already taken care of.      Sometimes exceptional deals come up and will sell quickly so it's important to be ready to "move" quickly in  submitting your offer.     It's important to  have the leg work done so you'll be in a strong  position to get your offer accepted.     This is especially important since there may be more than one offer being submitted to the bank at the same time.  

Contact  me for assistance with getting your prequalifcation taken care of.    

        928-486-4835  or  email me  at   robeets@ robeets.com  

If you are paying cash , then you may be asked to  provide proof of  those funds.    Many people have an "equity line"  on their own home that would give them quick access to a preapproved amount of  money  using this home equity line loan .   You may want to consider that as an option to give you "buying power".  

 Here's an example of how that  might work for you. 

You get a home equity line of credit against your personal home in the amount of $180,000.   (You don't use that money or pay payments on it until you actually take out the $$.)     This equity loan  in essence puts you in a postion to offer "CASH"  on the bank repo you are trying to buy.          This looks good to the bank/owner of the repo as it means that you can close the deal quickly and they don't have to worry about  your loan being turned down.  

Once you take ownership of the repo you may be able to refinance the new  property  and pay off your home equity line of credit  to clear it up for other things or just leave equity  loan in place on the new property.   Whichever works best for your situation.     ** Home equity lines usually have very minimal loan fees and costs compared to a conventional loan on the purchased property.      Discuss all your options  with your prequalification  lender to determine what is the best method of financing for you .

Things to be aware of in  purchasing a Bank Owned Property:   

    Many Bank owned properties are in "rough" condition. They may need  anywhere from Minor repairs  to Major repairs.  The bank/owner is NOT going to provide you any information on the condition or history of the property.   More often than not all utilities have been turned off so it requires extra effort & cost to determine what the overall condition is.   Things like air conditioning problems, plumbing leaks  etc may not be discernable without a full inspection. 

     Many bank owned properties allow you to do inspections only after your offer has been accepted.   You may incur  the cost to have utilities turned on so that you can do your inspections.    Homes that have Pools can be  risky as there is No water or power to determine the condition of the pools mechanicals  and the pool itself may need repairs for leaks, surface conditions or other items.

    Be aware that most banks will NOT do any repairs or fixes on a property.   They are sold in "as is " .  Your inspection will give you the opportunity to judge whether you want  to continue with the purchase or whether the condition is such that you want to cancel the offer.     You cannot go back to the bank and offer a lower price  based on the results of your inspection.      Your choice is pretty much either to proceed and be prepared to do you own repairs after closing or cancel the contract to purchase.  We can discuss this more thoroughly when you've started  looking at properties.

     If you are getting a loan on  a bank owned property   you'll want to discuss with your lender what restrictions  your type of  loan guideline's  place on the "condition" of the property.      Do they require it to have all flooring in place?   All appliances in place and operating, Pools operating and in good condition  etc ?       Check out what if any restrictions will  your lender  place on the property's condition and any need  for repairs.   Consult your lender when doing the prequalification process so that you know just which Bank owned properties you can consider purchasing relevant to each homes condition.

   Bank owned properties will not give you an immediate answer to your offer.    Expect anywhere from 5 to 10 days.    Also be aware that during this time the bank may be receiving other offers from other buyers to  also consider .    It's a bank and not an individual home owner.   So the panel that reviews /accepts  offers may have a scheduled time / day they process offers or it may need to go through multiple depts for review before a final answer is provided.   And they do not give "first  offer in"  precedence , they will be looking for the best price, the best terms and the most "solid" deal to accept.

   Well , it's time to get you going on your property search.  I am glad to answer any questions or provide assistance with lenders  for prequalification process , just give me a call.  

 When you want to start viewing bank owned or any type of property using your own "shopping cart"  Call or email me and I'll get it set up within 24 hours.  It's the best way to see all repos and get "instant" alerts when something new comes on the market that meets your criteria.  Ro Beets at  robeets @ robeets.com or call  928-486-4835

    10 years selling in Lake Havasu. 

 Trust my experience and knowledge to guide you through this process.    My track record speaks for itself.  I KNOW real estate. 

 As not only a REALTOR I've also done a lot of investing  in real estate.   I offer experience and knowledge that gives you an edge when making a decision and purchasing in the area.    You wouldn't put your trust into a chef that doesn't eat their own cooking , so think about  the trust you put into a Real estate agent.    

My investor  experience reminds me what it's like to be in your position.   It also means that I keep a good feel for the market since it affects my investments too.  

 If your Realtor hasn't invested in real estate - are they a chef that isn't eating their own cooking?         I'll work for you like I'd work for myself in a real estate deal.  

 Email me with your criteria and contact information at :   robeets @robeets.com 

Ro Beets  928-486-4835