NewEnglandRealEstateToday

THINGS TO LOOK FOR WHEN BUYING A FORECLOSURE

2009-01-08T13:30:00.002-05:00

Buying foreclosure property is good way to make money for many people. But if you're just starting out, you need to look at some very important factors when buying. Here are a few to keep in mind when you start your search for a property you want to invest in.

1. When you find a property you may be interested in, make sure to go and take a look at the neighborhood before going any further. The real estate slogan "location, location, location" holds just as true for foreclosed property as it does for conventional house sales.

2. Check to see how close schools are to the neighborhood the house is in. Does the school have a good reputation? Is shopping close by? Is there a neighborhood park? These issues may have an impact on how quickly you can sell the house. They also are great selling points to prospective buyers.

3. The condition of the house is a key issue. You're looking for a shabby house that's structurally sound (not one that needs major repairs). Remember that the amount of money you spend on repairs comes out of your pocket right up front.

4. Take a good look at your finances. Do you have the ability to finance a project of this size quickly? Do you have the ability to pay cash for it? Would a 2nd investor with you be a good idea? When you are buying foreclosure property, it is essential that financing be available & ready. Banks will not want to hold it for long. Timing is key!

There are good opportunities out there -- just be sure to do your homework!

All of us at Moore-Tuttle & Co. are trained in helping buyers purchase these properties as well as seller-owned homes. We are always available to answer your questions & guide you through the buying process.

Negotiating to Win!

2008-09-04T09:53:00.003-04:00

An often over-looked element, but an extremely important one, in all successful Real Estate transactions is Negotiating. There is an Art to this -- and most successful Realtors have studied & mastered it. Although most good negotiators favor an atmosphere of mutual cooperation & emphasize strategies over tactics, they still can pull out a few "tricks of the trade."

Here's 1 that can be used every day --

1) OFFER SOMETHING FOR SOMETHING. Never make a concession without getting a reward. If you give something--ideally something you don't care much about--you should get something in return. The goal is always a win-win!

The Moore-Tuttle team is well-trained in the Art of Negotiating -- whether Selling or Buying -- We would be happy to assist you in reaching a successful closing!

Why can't I find a house to buy?

2008-07-11T12:43:00.000-04:00

I know it is hard for many people to believe but sometimes it is not that easy to find a house to buy.

Many people are approved for a loan, motivated to find a home but keep "hitting the wall" because there is not a lot of really good inventory to buy. The "short sale" properties are extremely hard to purchase and it can take months to get answers. This indicates that is actually is a good time to sell! If you have a good piece of property, priced fairly, depending on the category and town, you may find that you have a number of buyers making you offers. Interesting!