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Palm Beach County Bank-Owned Home Opportunities Balance Reward, Risk

bank-owned homeIf you’re looking for a superior deal on a new home, you may find that a Palm Beach County bank-owned home is a serious contender. Today’s real estate market includes a variety of foreclosed homes, some of which can be had at prices well below baseline levels.

Adding to the activity in that sector is the virtual disappearance of any degree of the stigma formerly attached to the bank-owned home market. By May of 2012, Realtor Magazine was already reporting how the rise in distressed inventories had brought about an increased appetite for the sector: “Nearly 65% of buyers say they’re likely to buy a foreclosure today compared to 25% who said that in October 2009.” And 92% of those surveyed were interested in a bank-owned home as their primary residence, rather than as an investment vehicle.

If you think a Palm Beach County bank-owned home could be a serious contender for your attention, you should be aware of how to best prepare for the opportunities to be had among them.

Get Pre-Qualified

Pre-qualification not only speeds up the purchase of a Palm Beach County bank-owned home, it also produces a concrete range for your home-buying budget. Some banks charge a fee for the credit-checking procedure, while others simply build that into the bottom line.

 

Beware Potential Property Issues

The biggest issue facing the buyer of a foreclosed home is the potential for damage to the property. If it’s been vacant for some time, issues tied to improper weatherization or pest infestation can have resulted. A bank-owned home is typically sold as-is — so ordering a thorough, professional home inspection is an absolute must.

Be Patient!

Buying a bank-owned home in West Palm Beach can proceed on a different timetable than does a regular home buy, so be prepared to be patient. It’s also particularly helpful to have a buyer’s agent on your team to help answer questions as they arise. If you are in the market for a new home this winter — whether it be a bank-owned home or not — I’m here to advise my clients from beginning to end. Getting started is just a phone call away!

 

 

 

Questions, Comments or For more information you can email Christian Penner at Christian@ChristianPenner.com or visit us online at www.ChristianPenner.com or you can call us directly at: 561-316-6800

ChristianPenner.com
Palm Beach County Bank-Owned Home Opportunities Balance Reward, Risk
http://www.christianpenner.com/palm-beach-county-bank-owned-home-opportunities-balance-reward-risk/


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blackwhite#Christian Penner, #Mortgage Broker West Palm Beach talks about #Real Estate West Palm Beach. He also serves other Local Areas and provides home #Mortgage Solutions for Palm Beach Gardens, #Jupiter, #Boca Raton, #Wellington and #Tequesta. #Christian Penner Mortgage Broker Jupiter has the #lowest mortgage rates and the best #home mortgage programs like; #Jumbo loans, #FHA Home Loans, #VA Home Loans, #Reverse Mortgage Home Loans, #Freddie Mac Home Loans, #Fannie Mae Home Loans and #HARP Mortgage Loans. #Christian Penner Mortgage Broker Palm Beach Gardens has Served the area for over 15 years with his #Home Loan Lending Needs and Works with #FEMBI Mortgage in Jupiter. You Can Also Find Him On fb mortgageFacebook at: http://Facebook.com/YourMortgageBanker

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ChristianPenner.com
Palm Beach County Bank-Owned Home Opportunities Balance Reward, Risk
http://www.christianpenner.com/palm-beach-county-bank-owned-home-opportunities-balance-reward-risk/