[This is a post from James Marsden, a Buyer Agent at Charlesgate Realty Group. If you have questions, please contact James].
Based in the jump in the number of foreclosure petitions issued by banks (the first step in the foreclosure process) in Massachusetts in 2010, foreclosed properties should continue to play a large role in the Boston real estate market.
While foreclosures can be an awesome deal, searching for and buying a foreclosed property in Boston and the surrounding area is a daunting task. Property being foreclosed on is sometimes referred to as a Short Sale, a Pre-Foreclosure, Off Market Pending Eviction, REO, Bank Owned, Lender Owned, or some other technical term.
Each one of these terms and status have an impact on not only how much you offer for a property but how you can even find the properties and to whom the offer should be made. Then of course there’s the whole issue of gaining access so you can view the property. Also you’ll find that listing brokers, bank representatives, and/or disgruntled former property owners are sometimes slow to disclose some of the problems facing a buyer as it pertains to code violations, property defects, secondary liens, local ordinances, and/or financing difficulties.
That’s where I come in. As buyer agents here at Charlesgate Realty Group in Boston, my colleagues and I can walk you through the foreclosure buying process, representing your interest, needs and concerns at no out of pocket expense to you. We have access to all the foreclosed properties on the market today as well as properties currently in the foreclosure pipeline. In addition we can help arrange financing from some of the top banks as well as boutique lenders here in Boston - including loans that include cash for needed improvements and repairs to make buying a foreclosed property possible. This allows our clients first access to some of the better deals in the market today saving them considerable time and money.
So whether you’re an investor, trade up purchaser, or first time home buyer, feel free to contact us to discuss your buying needs.
[For more information or an appointment to discuss your real estate needs please contact James Marsden, a Buyers Agent at Charlesgate Realty Group, at 845-800-0112 or by email at jmarsden@charlesgaterealty.com]
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Learn how to find foreclosures first and purchase them for below market value during our upcoming Mastering Foreclosure Purchases webinar. We'll review all the details you need to know about how foreclosures work, how to search and find them, and how to effectively purchase them at below market value.
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