Foreclosures are a Place to Get a Real Bargain

If you have been thinking about buying a foreclosed home as an investment or as a second home for you and your family, you may be on the right track. However, buying a foreclosed home is a task that you should not take lightly. You need to know the ins and outs of foreclosures and that is why ForeclosuremadeEZ.com has put together this must-know list of tips for buying such a property.

You must start your search by acknowledging these few basic facts.

1.  It is not going to be easy and it will take a lot work and research. In very rare instances will you be able to find that perfect home that fits you and your family. It may take you hours of careful research and planning to locate a foreclosure home that fits your budget and your family’s needs. If it were easy, everyone would be doing it.

2.  Do not expect to find a home that you are just going to move into right away. Remember the last person to own this home may have been forced to leave and probably did not do so willingly.

3.  You are only as good as the people you have helping you. You will not be able to do it without help from a GOOD foreclosure specialist and a GOOD contractor.

4.  When it is done right, you will end up with a home that is worth more than what you paid for it, no matter what state the economy is in, and it should be remodeled to your personal taste.

Now, once you are willing to except the facts above, you are now ready to start your search. When you start, keep these recommendation in mind.

1.  Get Pre-Qualified: Securing financing early in the process is important because it will ensure that you are qualified to purchase the home. Being pre-qualified will also give you greater bargaining power when the time comes to make an offer. Find a lender that has worked with a number of foreclosures and understands the foreclosure process in depth. Taking the time to find the right lender will save you a lot of frustration and may save you from missing a good deal.

2.  Know the Process: Knowing about the foreclosure buying process is an important part of purchasing such a property. You can buy a foreclosed property at auction, by working directly with the seller of the property, or even by working with a real estate firm that specializes in these types of homes. Companies like Foreclosuremadeez.com can really help you through the process.

3.  Research the Area: Once you indentify the properties you may be interested in, your research is not finished. You will need to start looking into the benefits of the surrounding neighborhood, the availability of public and private schools, the population of the area, average property values, the rate of property value growth in the area, and the availability of career and recreational opportunities. The foreclosure expert at foreclosuremadeez.com can help you with all of this information.

4.  View the Properties: See the neighborhood, get a feel for the house and see through the mess. THE KEY TO GETTING A GREAT DEAL IS THE ABILITY TO SEE WHAT THIS HOUSE CAN BE, NOT WHAT IT IS TODAY!

5.  Bring in the right contractor.  You need help now. Bring in a good contractor to walk the home with you to find all the repairs you will need to make and talk with him about the possible changes you may want to make. Once that is done, have him give you a firm cost to make all the necessary improvements. REMEMBER, if it is a good deal, time is of the essence. A Good contractor that I know of is Propertyrestorationllc.com. They will do the inspection for you and get you a firm cost within 24 hours

6.  Make an offer that works for you. Now that you have your financing in place, you have found the right home,   have all the cost of repairs for the house, You are now ready to make the right offer that fits you and your family. And once accepted, you are on your way to a home that is totally remodeled your way at a great price. ForeclosureMadeEZ.com and PropertyRestorationLLC.com can help you find and get that great deal. Together, they are here to take the risk out of buying a foreclosure and make it EZ so you get a great deal.