It’s Foreclosure Saturday! We have a standing 4pm appointment every Saturday to meet with our Real Estate Broker and look at foreclosures. We believe the real estate market is poised to take off and we want to be on-board the rocket ship! Therefore, we are always looking. When you think of foreclosures, you probably think of properties in poor condition, and sometimes they are … However, we have been pleasantly surprised at the excellent condition of the recent foreclosure properties. For example, take a look at this 4 bedroom 2.5 bath townhouse on the lake.
It is a large brick townhome in a very nice neighborhood. It is less than a 5 minute walk to the lake! Children can walk to excellent elementary and middle schools. The neighborhood shopping center is within walking distance. It has a beautiful upgraded kitchen with upgraded cabinets, light fixtures, marble countertop, appliances and flooring!
#foreclosure Saturday stunning #kitchen #realestate #realestateinvesting #realestateinvestor
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The townhouse has 3 levels of living space. On the main level is a large living room with a black slate fireplace. The dining room has beautiful hardwood floors and an attractive light fixture.
Can you believe this is a foreclosure? According to our Real Estate Broker, the eye-catching hardwood floors are Brazilian!
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On the top level, there are 3 bedrooms and 2 full baths. Each bedroom has a ceiling fan, which helps circulate the air and can reduce air conditioning costs in the summer. The 2nd and 3rd bedrooms are small (10’x8′), but each has a ceiling fan, skylight, and nautical window!
Looking @ #foreclosures #realestateinvestor #realestatetips #realestate #realestateinvesting #
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On the lower level, there is a 4th bedroom, a full bath, and a family room with sliding glass doors leading to a small backyard. We were concerned that the backyard was not fenced. With the lake so close by, small children and/or pets can easily wander to the lake.
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Foreclosures are sold “as-is,” which means the seller does not warrant or guarantee anything. It is extremely important to have a certified home inspector perform a home inspection. We have had very good results with U. S. Inspect. Even though foreclosures are sold as-is, sometimes the lender will require the seller to repair heating and air conditioning. A few years ago, we were fortunate enough to purchase a 3 bedroom 2 full bath condominium foreclosure. When the appraisal was conducted, the the appraiser found the heating and air conditioning system (HVAC) to be faulty. The appraiser notified the lender, and the lender refused to finance the property until Fannie Mae replaced the HVAC! Therefore, we received a free HVAC courtesy of Fannie Mae! It was a totally unexpected gift, and we were elated!
To see more of our foreclosures, watch our Chasing Foreclosures playlist on YouTube!
Have you been fortunate regarding foreclosures? If so, please share your good fortune and foreclosure tips:
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The opinions expressed herein are solely those of the Author/WebMaster. Before taking any action, please consult your real estate, financial, and legal advisors.
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