Finding the best real estate deals has become a whole lot easier since the real estate sales industry has taken it online. You may be an investor looking for your next rental property or you a speculator looking for a property to flip, or a home owner just looking to move on. Real Estate listings sites ubiquitous. There are thousands of sites online however finding what you want without trailing through hundreds of listings requires some search terms knowledge. The starting point for any property buyer is to know what they want including type of property (apartment, townhouse, standalone house and land and what you want it for. There’s not a ‘one size fits all’ when it comes to key word searches. When you have your list of property attributes i.e. type of property, what you want it for (rent, live in, renovate or flip) and the price range your property search will deliver more targeted listing results. All home buyers want to get their ideal home for best possible price so also include a search on ‘bank foreclosure auctions’.
Look for Bank Foreclosure Auctions
In the event that a home owner misses their mortgage payments for an extended period of time, the bank underwriting their mortgage may foreclose on the house. When this occurs, the bank retakes ownership of the property and removes the current occupants. This leaves the bank with a property that is currently not generating them any revenue. Consequently, they will look to sell the property and are often willing to accept a much lower price than they normally would.
This makes bank foreclosure auctions a fantastic opportunity to find some unbeatable bargains. One thing to note, however, is that because the foreclosure process can take a number of years, sometimes the properties are in a state of disrepair and in need of some work before they’re fit to be used as a residence. You should talk to the listing agent about the specific property up for sale and before you get too involved in any particular deal seek out local foreclosures information from real estate agents dealing with them in your property search area. For example, if you live in Minneapolis, and you’re keen on a luxury home try the A. D. Hays Group they’ve got over 30 years experience and pride themselves on their customer service so you’ll find them very helpful.
The old saying that ‘the early bird gets the worm’ is often the case in real estate. No one wants their property left on the market so sellers (vendors) will take the first reasonable offer they get rather than risk missing out on the chance a better offer comes along. Experienced property investors would say do your due diligence and finance pre-approval before you start looking for a property then if you see a great deal you can act fast to snap it up.
For first home buyers there’s a lot of helpful information online especially on how to do your due diligence so you’re forearmed so to speak and you too can take advantage of putting in an early offer.
This action doesn’t apply to how you view listings. If some have been listed for a while there could be an opportunity to negotiate on the sale and purchase terms including the price!
Approach Sellers Privately
You’d be surprised at how many homeowners will consider selling their property when it’s suggested to them by a prospective buyer. One of the most effective tactics used by real estate investors today is to approach sellers privately and to raise the prospect of buying the property. Of course this is how real estate agents get listings. They will initiate the contact often via a cold call.
Finding real estate deals is easier than ever before now we have the Internet and a mobile devices. The trick to it so you save time is on your key word search so you can narrow down your search results.