A Word About Foreclosures

Foreclosures are typically properties that a Bank or Lender owns.  They may or may not be vacant. 

Michigan has a redemption period that allows the foreclosed owner to buy his property back. 

It can be either 6 months or 1 year.  There are guidelines that identify how long the redemption period is for the homeowner.

Foreclosed properties may or may not be HUD homes.  Foreclosed properties are usually sold on a "BID" basis.  This means you and others could be bidding on the same home.

The sale of the property is usually an "AS IS" purchase.  You can do inspections before you make your offer.  This is a very good idea.  The condition of a Foreclosed home is usually not as good as one being occuppied by a seller.

Depending on how long the Foreclosed home has been on the market the roof could leak, windows could be broken, sump pumps could have over-flowed and the list goes on.  So do not expect a bargain without some work being required to turn your bargain into a real bargain!  That is why it is a bargain....it needs work in most cases!  They may not be pretty when you first see them...but they can be turned into your castle!

Call one of our knowledgeable "Flexperts" to guide you through the process of purchasing a foreclosure.  The lender forms are usually not the same as the local real estate forms.  Closing can be a little tricky and in many cases, using a knowledgeable agent can mean the difference in getting the home you want and having someone else get it! 

A Low down purchase deposit can get you in a HOME!

We Can Help YOU find the right lender to get you a $100.00 Down Loan!  If your credit score is over 550 and the property you are interested in buying is less than $271,050.00

Call our Broker or one of our Agents for help finding the right Foreclosure for you!

Local: 616-784-2360 Toll Free: 877-667-4699 Email: FlexItRealty@comcast.net