Real Estate Kate and her team are the best way to find foreclosures for sale because foreclosures are their bread and butter! Real Estate Kate and her team buy foreclosed homes at county and online auctions, take care of the title and any people occupying the property, then they resell them free and clear. This is one of the best ways to buy a foreclosure because you’re still able to buy a house AS IS, at an under market value price, but not have to deal with any evictions or having to clear the title of any encumbrances.
Each county holds their own auction. There are also a multitude of online auctions, such as Hubzu, Xome, Auction.com, Hud Homes, Homepath, Hudson & Marshall, Williams & Williams, Realtybid, and Treasury Auctions. The most popular are Hubzu, Xome, and Auction.com. If you’re wondering how to buy a foreclosure with cash, just know it is necessary to have cash in order to buy a property from the county and Real Estate Kate and her team.
In certain situations, when a property reaches the multiple listing service (MLS), a loan, such as the FHA 203k Improvement Loan, may be allowed, however these loans are typically a headache and can fall through or are beaten out by a cash offer. Therefore, cash is king.
[Note: Real Estate Kate and her team also accept hard/private financing, depending on the terms, because it can be considered comparable to cash].
You may be asking yourself how do I buy a foreclosure? You are not alone; many people ask how to buy a foreclosure. There are a several steps involved in purchasing a foreclosure. One must be registered and have an account to do so. One must pay attention and stay up to date on what properties are going to auction. Lastly, one must be aware of what shape the title is in. Is there an outstanding mortgage? Are there code enforcement issues that have turned into liens? These are all very important factors to consider when considering how to buy a foreclosure. To learn more about how hard it is to buy a foreclosure, click HERE to check out “How hard is it to buy a Foreclosure? Ask the Experts.”
How can you buy a foreclosure? The question may not be how do you buy a foreclosure property, but actually why. Foreclosure properties are a great way to capitalize on the buy low, sell high, strategy. Typically, with a foreclosure property one is able to accumulate more equity than if one were to buy it from a homeowner off the MLS. That being said, banks are motivated to get these properties sold. Therefore, they will negotiate on terms such as price and closing costs. Furthermore, when a bank deal doesn’t sell at the live auction, it hits the MLS and they then also offer a real estate commission. This is great for agents who are also investors. As you can tell, there is a real advantage to buying foreclosures. However, there is also a huge risk in doing so. What if the title has a second mortgage you missed? What if the occupants don’t leave easily and destroy the property? Therefore, when considering what the best way to buy a foreclosure, remember Real Estate Kate and her team. They buy these properties, take care of any outstanding liens, mortgages, title encumbrances, people, and then resell them free and clear. They are still marked at an under market value price, so investors are able to have equity in a flip or income investment. The best way to find foreclosures for sale is to check Real Estate Kate’s website www.realestatekatefl.com. If you subscribe to her e-mail list (at the bottom of her home page), she will keep you updated and send you an e-mail when a new property comes available.
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