Foreclosure sellers in Central Indiana are just like any other home seller.  Except when the bank is the seller, it is just a matter of numbers.  The bank has no emotional attachment to an Indianapolis home.  But like most sellers, over time the bank will take less. 

Banks seem to have three different strategies for selling the Indianapolis real estate they own.  One strategy is to market it just like any other home for sale in the Indianapolis area.  And if the home is in a sought-after neighborhood, that just might work.  Most of the time they are motivated to sell these homes for the best price they can get in the shortest amount of time.  Sometimes they will use another strategy of pricing the Indianapolis bank-owned home very low to attract the interest of multiple buyers.  Then they ask all buyers to provide a highest and best bid.

One of the largest sellers of foreclosed properties in Indiana is HUD.  A recent survey showed them having over 800 HUD Homes available for sale in the state of Indiana.  These range from the low priced home needing tons of work all the way to the almost new homes just a few years old in recently developed neighborhoods.  While it is not very common, there have been Indiana HUD Homes with an appraisal over $200,000.   Now HUD will consider offers for less than their list price, but of course they want to take the best offer they have received.

Everybody seems to want to know just how low HUD will go when they consider offers.  Like other sellers, over time, they will take less.  If there is a $150,000 home, they are simply not going to take $80,000 for it, despite what you might see on the infomercials - unless it has been on the market for a very long time.  But don't let the list price completely keep you out of the market.  An agent who understands how HUD Homes work might be able to offer you some guidance on a bidding strategy to get a home for a good value without wasting time with futile bidding.

We will work with serious buyers of Indianapolis foreclosures or HUD Homes.  We offer a website where you can start to get information about Indianapolis foreclosures and HUD Homes.  No, you do not need to pay to subscribe to some list.  We can go over the process with you and get the information you need.  This website is provided by Dan Rosenberger of the Real Estate Finders Team at Harvest Realty.