How do I buy a foreclosure home for sale in the Greeley Colorado Real Estate market?  Do I need the secret password?  The simple answer is that you buy a foreclosure the same way you buy any other house.  Find a reliable Real Estate agent and tell them what you are looking for.  Your local Greeley Colorado Real Estate agent should be able to find you most if not all the foreclosures currently on the market. 

But there are a couple of differences.  When buying a foreclosure don't expect the bank to fix anything.  If the bank knew about a problem and if it was cost effective for them to fix it they would have already.  Most of the time the sales are as is.  There are a couple exceptions sometimes depending on the lender.  If during the inspection you find something like a major leak in the plumbing or some other major problem the lender might lower the price for you.  As they know that if you walk now the listing agent has to disclose that problem to any other buyer that comes along.  This might result in a lower price then just lowering the price for you. 

There is one thing to ask the agent that you find to help you.  Have they sold any foreclosure properties before?  The process is a little different then buying a regular home.  Communication to the bank sometimes isn't that quick.  Inspections are a little more complicated as sometimes the house is winterized.   They should know the basic process. 

What you should expect.  You should expect to be required to provide a prequalification letter from a lender.  You should expect this even if it isn't a foreclosure.  You also should expect to possibly be required to get prequalified by another lender in order to submit an offer on foreclosure homes owned by certain lenders.  You should expect to take a few days to get any kind of response from the lenders listing agent and the lender with regard to anything.  Example: Offers, counter proposals, amendments to contracts. 

These are just a few tips to buying a foreclosure home in the Greeley Colorado Real Estate Market.

If you would like to contact me with any questions you might have please call me at 970-302-1233 or just send me an e-mail using the form at the bottom of this page.

For complete details on everything Greeley Colorado Real Estate visit my website at http://www.greeley-weldcountyhomesforsale.com

Marc Oster

Y and M Real Estate LLC

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