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Due to the unique challenges of purchasing a bank-owned property, it is a good idea to work with a Buyer’s Agent who has experience working with this type of sale. Since the listing agent is a “Seller’s Agent” for the bank, it is best to have your own agent to represent and protect your interests.
As buyers, foreclosures certainly have the promise of getting a home at a great price and this can certainly happen. Nonetheless, extra caution is required in purchasing a bank owned property.
Here are some of the challenges.
If you are interested in purchasing a foreclosure, please call me or email and tell me more about your goals.