Real Estate Blog – Condotron

Condos – Properties – Real Estate – Mortgages

20 Mar

What To Watch Out When You Are Buying A Home: 2

Posted in Real Estate on 20.03.10

bank-ownedNow that we have touched on why buying a bank-owned home might not be the best idea in the world, let’s move onto another reason why and that is the down payment.  Typically, when you purchase a home, that is something that you can talk about and it is typically like 5 to 10% down, however if you are buying a bank-owned home it is usually 20-25% down.

This is money right off the bat for a home that you do not know if it needs repairs.  Is it worth it?  To me, it is not.  Only because I think that there are is a lot of other options and I think that home owners are flexible with their price and if you give them a fair price they will give you a fair deal.

Keep this in mind whenever you are out looking for a home – I can promise that if you rush into the decision you will regret it.

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19 Mar

What To Watch Out When You Are Buying A Home: 1

Posted in Real Estate on 19.03.10

bend-oregon-bank-foreclosuresPurchasing a home is a very, very big decision and it is one that should never be rushed into and never taken lightly.  However, that seems to be exactly what is happening to a lot of people, they are actually rushing to get the very best rates and the lowest mortgages, however it is not exactly the best plan.

In the next couple blogs, we are going to talk about why you do not want to take advantage of the prices that bank-owned homes are giving off.  For one, you never know exactly what you are going to be getting, as you can usually just see the home from the outside as you are bidding on it.

Stay tuned for some other reasons, you might be extremely surprised!

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