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Huge Inventory Of Homes

By nathan oulman

The purchasers have gone out to search for houses again and are rapidly discovering that they are not the only people doing this, since a few states like Arizona possess such an overabundance of bank owned homes and short sales. There are now numerous buyers who are looking to purchase bank-owned houses at discounted prices or to find a quick sale, and these people are discovering that they need to act very quickly and take advantage of the offers that are made to them.

These are some aspects of purchasing a bank-owned home that you should be aware of. Bank owned homes that seem to be in great condition and a lot of square feet for the price are “hot” items and they will likely get multiple offers in a very short amount of time and buyers will have to make their offers strong.

Of course, you will want your real estate agent to investigate if the house already has offers on it. If there are, you will have to take that into account. With more than one offer, there is probably a minimum of one that is offering at least the listed price. Your bottom line is what counts here so keep in mind that if you start asking for closing costs, prepaids, and home warranties that the total net to the bank will be what they look at.

Despite what the offers may turn out to be, a number of banks have taken up the practice of countering each of the first ten offering parties with a demand to turn in their best and highest offer within a certain amount of time. This is your last shot at the house. Don’t let the excitement or competition overwhelm you. Keep to the budget that you have set for yourself, but be prepared to pay at least asking price for the home, and sometimes slightly more. Because of this, you should find a home which is less than what you have in your budget, which will allow you space to remain flexible.

The current market is starting to look like it did in Arizona back in 2003 to the latter part of 2005, when houses were getting a bunch of offers within the first hours the listing was on the market. In order to make sure you get the house you have your heart set on, you will need to be a little creative when submitting your offers on these bargains.

Learn more about homes in goodyear. Stop by Nathan Oulman’s site where you can find out all about homes in mesa and what it can do for you.

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Article Citation
MLA Style Citation:
Oulman, Nathan "Huge Inventory Of Homes." Huge Inventory Of Homes. 30 Jun. 2010. uberarticles.com. 18 Dec 2014 <http://uberarticles.com/real-estate/huge-inventory-of-homes/>.

APA Style Citation:
Oulman, N (2010, June 30). Huge Inventory Of Homes. Retrieved December 18, 2014, from http://uberarticles.com/real-estate/huge-inventory-of-homes/

Chicago Style Citation:
Oulman, Nathan "Huge Inventory Of Homes" uberarticles.com. http://uberarticles.com/real-estate/huge-inventory-of-homes/


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