BuyingAHome-JenniferChristenot

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at standard properties, when purchasing a foreclosed home you’ll want to work a foreclosure expert. There can be a lot of different issues that go into buying a distressed property and even the law surrounding them is different. For this reason, you’ll want an agent that specializes in selling foreclosed properties, as well an attorney that’s extremely familiar with foreclosed properties and foreclosure laws in your area. It’s important to know that when you’re buying a foreclosure, there could be a number of things that could delay the purchase of the home or, cause it to fall through altogether. Homeowners that find themselves in foreclosure could come up with the money for their loan, putting it back in good standing order and taking their home off the market. At auction, lenders could also find that there are no lucrative offers and so simply decide to take full ownership of the home. In these cases, it could be months before the bank puts it up for sale as an REO property. The timeline for buying a foreclosed property can be tricky. While you have to be prepared to act quickly, you also have to be very patient during the sales process and understand that a number of things could hold up the process. Repairs or significant work might be another factor that doesn’t necessarily hold up the sale of the property, but do in fact hold up your move-in date. Because of this, if you’re interested in foreclosed properties, especially those that are in quite a state of distress, you need to understand that you might not be able to move into your new home right away, FAQ’S ABOUT BUYING A HOME | JENNIFER CHRISTENOT 42
and will need to have alternate accommodations available during that time. Lastly, it’s important to know that buying a foreclosed property can be a real rollercoaster ride. It’s an emotional process that will almost never work out exactly as you had planned. Just make sure that you’re up for the journey before embarking on it. I hope you’ve found all this information helpful, and I that we get to work together in finding you the perfect house to call HOME! Happy house hunting! Jennifer Christenot DRE#01974700 Realtor 760-272-0101 43 FAQ’S ABOUT BUYING A HOME | JENNIFER CHRISTENOT
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