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Sign up  to Receive email updates on the Newest Listings! --  New Foreclosures! -- New Price Reductions!    

 Here's how:     Simply  Email me   to  request your own  "New Listings Auto Alert System"  personalized to your specific criteria .   Be sure to  provide your email address  and    Include any specific information on what  you are most interested in.  ie: bdrms, baths, sq ft,  age,  garage bays,  pool - yes or no, and of course a  price range, etc 

  If you're  considering  purchasing a foreclosed property --   You'll need to do some homework in order to make an offer on a bank owned home. 

1.  If you are paying cash --  You will be required  to  provide proof of   funds sufficient to pay in full.

2.  If you'll be getting a loan to make your purchase :   You MUST  provide a PreApproval   letter  from a  lender with any offer submitted.   ** See also  information below about property "conditions"  that may be required by your lender.

I advise you to get your preapproval completed ahead of time and have this  is already taken care of.   Should an exceptional deal come up  it  will sell quickly so it's important for you  to be ready to "move" quickly in submitting your offer.  

Contact One of these Lenders  to get your preapproval taken care of now.  

     Things You should know when  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 "condition .  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.    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, Is the Pool operational, etc ?     Check with your lender during your preapproval phase to ask  about  any restrictions will  your lender  place on the property's condition and any need  for repairs.  

   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

   Over  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.  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 any  real estate deal.  

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

Ro Beets  928-486-4835   

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