Bank owned and foreclosed properties can often be purchased for many thousands below value, although not all foreclosures are bargains.
1) Ask your agent to do a current market analysis on any property you are considering to determine fair market value.
2) Be sure you are prequalified with a lending institution before you begin shopping for foreclosures. Once you find a tru bargain, you will need to act quickly. Your real estate agent can assist you in getting prequalified.
3) Most VA owned properties have special financing for the property. If you are planning to live in the property it may be 100% financing. If you are an investor, it may be 95% financing. On VA properties, special loan programs are not credit score driven.
Choice Jacksonville specializes in gonernment and bank owned properties, please call us at 910-455-7284 for a list of foreclosures. We are constantly looking for bargains in order to serve our clients.
