Can I buy a foreclosed home in Mount Gilead (Morrow County) OH?
The short answer is YES. The long answer requires a little more explanation (and question)
How will you be financing this "foreclosed" home? Will it be your principal residence or are you planning to buy it as an investment property, maybe using it as a rental for a few years?
Do you plan on fixing it up yourself? Or are you going to hire a general contractor to do all the work?
Do you have the financial ability to risk thousands of dollars? Or are you trying to find a "great deal" on a home for you and your family and really can't afford to risk any of your hard earned cash?
These are all questions that should be asked and answered - Before you put any money on the table!
Before you buy, do yourself a favor. Introduce yourself and meet with a local Realtor that can help you through the process. Having a local Mount Gilead Realtor work with you can save you hundreds or maybe thousands of dollars. And having an agent represent you WILL NOT COST YOU ANYTHING!
Too many people think that having a Realtor represent them will cost them money. This is UNTRUE! Buyer's agents get paid by the seller's agent for bringing a buyer to the table. We all "co-op" with each other, show each other's listings and we all pay each other to bring a buyer to our listings, whether in Mount Gilead, Cardington, or Marengo.
Sorry I got off track a little here, my post is to be about buying foreclosed properties, not about the Realtors Code of Cooperation.
So again, YES, you can buy FORECLOSED, PRE-FORECLOSURE, SHORT SALES, DISTRESSED, BANK OWNED, OR HUD OWNED homes. Each of these types of homes have their own nuances to the buying process.
Work with a local real estate professional to help guide you around the pitfalls and over the rough spots and you could end up with a real gem!
Herb Baldwin, e-Pro, Realtor
, CDPE herb@herbsells.com
RE/MAX Genesis, Mt. Gilead (Morrow County) Ohio, Helping people realize their dream of home ownership in Morrow County (45 minutes north of Columbus) Ohio.
To view any home in Morrow County, call me now at 419-947-4004
See all central Ohio homes for sale at:www.herbsells.com
I like the message here Herb. It should be noted that some foreclosed properties will not qualify for financing because of condition. In that case, the only option is a cash purchase.
Kathy, thanks for the comment and you are ABSOLUTELY right! How many times do we get calls from first time buyers who are hoping to get a "diamond in the rough" because their dad, uncle, or brother is "handy"? Then we have the conversation with them about not being able to get financing because the home is in deplorable condition.
That's just another reason for our buyers who are looking for a "deal" to engage the services of a full-time professional real estate agent in their area who knows and understands the pitfalls of buying a "distressed" property.