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Portsmouth Real Estate Resource - Search Homes in Rye, New Castle and North Hampton

Ann Cummings

RE/MAX Coast to Coast
Past NH State REALTOR® Of The Year!
Phone: 888-349-5678 x 3839
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Portsmouth New Hampshire Real Estate - NH Bank-Owned Properties For Sale

Are you interesting in buying bank-owned homes, condos, multi-family properties in New Hampshire Seacoast area?

New Hampshire Bank-Owned Real Estate For Sale


Bank Owned Home

I wrote a post a little while back about buying bank-owned properties and the potential issues surrounding the purchases of bank-owned properties. All are sold in ‘as-is’ condition, but ‘as-is’ can mean different things to different banks who own those properties. And the majority of those bank-owned properties are typically in less-than-desireable condition most of the time. Some look as though the owner took really good care of the property, and others look as though they were beat up really badly by the previous owners.


Potential buyers of bank-owned homes and condos really need to have their eyes wide-open when looking at buying real estate in these situations. Sure, you can get some really great deals, but those deals don’t come easily and/or without their problems. Be sure to check out the link I mentioned above for some of the issues to keep in mind when thinking about purchasing bank-owned real estate.



Make sure to have your inspections as part of your offer to purchase, or if the bank that owns that property won’t let you make it subject to inspections, have them done before making your offer. The other thing you must be mindful of is that not all banks and mortgage companies are going to be too quick to lend money on a bank-owned property. Before submitting an offer to purchase on bank-owned homes or condos, make sure your lender or loan officer gives you the okay to do proceed knowing the property is bank-owned.

New Hampshire bank owned house

I’ve had a number of requests from potential buyers wanting to know what might be available for sale in southern New Hampshire bank-owned real estate.

This link will open up to show you a sampling of New Hampshire homes and condos currently for sale. We also have bank-owned multi-family properties for sale in southern New Hampshire as well. Some of these have potential for good owner-occupied properties, and as the prices of some of these, you’ll find some excellent opportunities for real estate investors as well.

This is just a sampling of Seacoast NH bank-owned properties, and these are subject to change due to the properties selling and/or prices changing.



Do any of these bank-owned homes or condos in New Hampshire or Maine have potential interest for you? If so, send me an email or give me a call and we can discuss those properties and set up showings for you so you can see if they’ll work for you.



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Ann Cummings, New Hampshire REALTOR
Broker - NH and Maine
RE/MAX Coast to Coast
Portsmouth NH
ann@anncummings.com
888-349-5678 x 3839
Servicing the Coastal Areas of NH & Southern Maine REALTOR



Ann Cummings New Hampshire REALTOR



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Posted on March 12, 2008 15:18:56 by Ann.Cummings
Comment from: moni [Visitor] Email · http://monikamcgillicuddy.com/wordpress/

The Bank Owned activity will certainly increase as the year progresses. You offer some good solid advice Ann...lets hope that the bank owned buyers heed it.

PermalinkPermalink March 12, 2008 20:10:47
Comment from: Cyndee Haydon [Visitor] Email · http://www.clearwaterrealestatetampahomes.com

Ann - what a wealth of info you have here - hope today went well for you!

PermalinkPermalink March 13, 2008 02:48:01
Comment from: Ann.Cummings [Member] Email · http://www.newhampshiremainerealestate.com

Monika - we have a number of bank-owned listings in my office, and they're getting lots of activity.  The unfortunate thing is that most of these look like what most of us think of as 'bank-owned' and many buyers just aren't prepared for the issues that come with bank-owned properties.  I've managed to find a few sleepers in some of those bank-owned properties - pretty good condition and amazing prices.


Cyndee - thanks, and it did go well as I got one of our bank-owned properties under agreement!

PermalinkPermalink March 13, 2008 06:40:14
Comment from: Melbourne Beach FL Real Estate [Visitor] · http://www.curriproperties.net/Melbourne-Luxury-Homes-For-Sale-6-159.html

I did not know that lenders are not inclined to do loans for foreclosures.  Hmm.... seems like we have a huge problem with so many foreclosures for sale.  I do see foreclosures missing appliances and need cosmetic repair and yards unkempt.  I guess there concern is lack of attention to big things roof repair and furnace and a/c repair.

PermalinkPermalink March 16, 2008 10:55:45
Comment from: Ann.Cummings [Member] Email · http://www.newhampshiremainerealestate.com
Melbourne Beach Real Estate - we have found some lenders very reluctant to lend on bank-owned properties up here. Most are sold 'as is' and because of that, it's difficult to detect systems problems - plumbing, heating, septic/sewer, electrical - until after the closing. Some banks will allow an inspection, but won't de-winterize the property so you have no way of checking the major components of a house. Other banks will dewinterize but won't deal with any issues, and some of those would preclude the house from being considered livable by the lenders. And on the other hand, I've seen some great bank-owned homes in decent condition, that just needed some interior paint and new carpet, no different than plenty of privately-owned homes. Those should have no problems with financing, but as soon as the lender hears that it's a bank-owned property, they get a little leery of it.

If someone couldn't afford to make their mortgage payments, it would seem likely that they also couldn't afford the upkeep and/or maintenance that homes need. I think that's where the concern on the lenders' part comes from.

Thanks for the comments!
PermalinkPermalink March 16, 2008 11:21:27
Comment from: lindsay [Visitor] Email · http://www.robinashley.com

Theres so much potential for homes liket he on in the picture, just needs some tlc and creativity.

PermalinkPermalink July 01, 2008 16:07:41
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