Ben Lehrman and Christina McShane - Heartland Realty - Real Estate

Why Buy Foreclosures?

Why would you want to buy a foreclosed home? Here are just a few of the reasons that homeowners and investors are flocking to the foreclosure market.

* Low prices. Foreclosures sometimes sell for 20 to 50% below their true market values. More modest discounts of 5 to 10% are more common, but foreclosures are almost always priced lower than homes in the traditional real estate market.
* Great fixer uppers homes. Many foreclosed homes are 'fixer upper homes' that need repairs, renovation, and tender loving care. By investing a little sweat equity, most homebuyers find that they can make significant profit by reselling the home after some relatively quick and minor repairs.
* Lower closing costs. The banks and government agencies that sell foreclosed homes are in a hurry, which means that they are often willing to accept lower offers on down payments, financing options, closing costs, and all the other miscellaneous costs associated with buying a home. Many sellers will come right out and offer buyers great deals and contract terms simply to sell the house quickly.
* No move-in delays. Most foreclosures are vacant, meaning that you can move in almost immediately after purchasing the home, without having to wait for the previous owners to move out.
* Flexible financing. When banks sell foreclosed properties, they're often willing to offer very flexible financing terms to sweeten the deal and sell the property more quickly.
* Profitability. Because foreclosures are so inexpensive, they're great options for resale, equity-building, renting, and other investment purposes. You can easily make a tidy profit, and quite possibly make your personal fortune by wisely investing in foreclosed properties.

Benjamin Lehrman
Century 21 Cardinal Reality, Inc.

142 Garrisonville Road
Stafford, VA 22554

Phone - 571-212-8234
Fax - 703-499-9802