Portsmouth New Hampshire Real Estate - NH Bank-Owned Properties For SaleAre you interesting in buying bank-owned homes, condos, multi-family properties in New Hampshire Seacoast area?New Hampshire Bank-Owned Real Estate For Sale
http://www.newhampshiremainerealestate.com/0023EF
Posted on March 12, 2008 15:18:56 by Ann.Cummings
Comment from: moni [Visitor] 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. Comment from: Cyndee Haydon [Visitor] Ann - what a wealth of info you have here - hope today went well for you! Comment from: Ann.Cummings [Member] 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! 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. Comment from: Ann.Cummings [Member] 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! Comment from: lindsay [Visitor] Theres so much potential for homes liket he on in the picture, just needs some tlc and creativity. Comment on this article This post has no comments awaiting moderation. |









