If everyone and their mother has been telling you that buying a bank-owned or short sale property is the best way to go to get a great deal on a house, you may want to think again. Don’t get us wrong, The Incorvaia Team has in fact successfully closed many deals on bank-owned and short sale properties, resulting in the happiest clients, but the fact is that this will not ALWAYS be the case, and it isn’t something that we can control.
If you are determined that this type of property is for you, the thing to keep in mind is to MANAGE YOUR EXPECTATIONS. Buying a bank-owned or short sale property means that sometimes unexpected things will come up, so you need to go into the process prepared and in the right mindset. Many times such properties are sold “as is,” meaning the bank is not willing to fix or change anything to suit your needs, and you may not be allowed to have a home inspection done before purchasing. You may think you have scored a great deal on a very low-priced property, only to find a major problem with the house that will end up costing you a lot of money to fix.
You also need to be PATIENT and FLEXIBLE when dealing with bank-owned properties, because in such transactions it is the bank that dictates what they want and when they want it, and you have to be ready and able to comply.
At The Incorvaia Team, we will always take time to discuss your wants and needs, and consider what you feel is best for you. If you decide that buying a bank-owned or short sale property is your best option, then we will do everything we can to help you score a good deal. However, we will also make sure to prepare you for the process and set expectations, so that there are no surprises and so that everything goes as smoothly as possible for you. Give us a call today at 440-879-7130!
