We know you're wondering... Who wins big on these bank-owned homes and why is it never me?
Well... Did you know?
1. Banks evaluate both a broker price opinion (BPO) from the listing agent AND a third party appraisal, so there really isn't a "win big" potential. Homes are priced to sell and also to keep the neighborhood values up to where they should be.
2. Bank-owned or not, the buyer who is pre-approved with a lender is going to "win" as compared to one who is not. Be sure to have that process well under way before you get serious about looking for properties
3. Buyers who find the right property - bank-owned or otherwise either have the time to stay on top of what is coming available on the market or they've enlisted a Real Estate professional to do this for them.
3. In some cases, the initial asking price on a bank-owned home may be a bit on the high side. Again, better to err on the side of keeping neighborhood values up than to drag a whole neighborhood down by going for a quick sale. You'll appreciate this when you go to sell! If it seems like some folks are getting a "deal" with a bank-owned home, they may have been willing to take the time and hassle of going through several offer/counter offer rounds.
That's it! Really. Ready to jump in? We have some more properties coming available and would love to help you through the process!
Lisa - 541-610-9697 | CJ - 541-410-3710 | Donna - 541-760-5677