How to Buy Foreclosures

If you are looking for foreclosures in the greater Raleigh, NC area, we can certainly help! FOR HomeBUYERS Exclusive Buyer’s Agents can protect you from the unknowns a foreclosure can bring and walk you through the sometimes complicated process.

Contact us today to get started or for a FREE, No Obligation Consultation to learn about Exclusive Buyer Representation. Call or text 919-219-9878.

There are generally 2 types of foreclosure homes available in the Raleigh, NC area – HUD foreclosures and Bank owned properties sometimes referred to as REO (real estate owned) homes.

The process for making an offer on these two types of foreclosure homes is very different. Most bank properties are listed through MLS by a traditional listing company and the offer is made through the listing agent.

HUD homes may also be in MLS but they are also listed on the HUD Home Store web site. In order to purchase a HUD home a bid is placed directly to HUD and this must be done through a HUD registered real estate broker. Individuals are not allowed to submit bids on HUD homes.

Why use FOR HomeBUYERS, Inc. to purchase a foreclosed property in Raleigh and surrounding areas?

  • Foreclosed homes may have been sitting vacant for an extended period and problems may arise while sitting uninhabited.
  • Foreclosed homes that have been abandoned, were many times abused or neglected prior to abandonment.
  • FOR HomeBUYERS, Inc. is experienced in spotting and pointing out problems both minor and major with the systems of the house that may have occurred due to abuse or neglect.
  • FOR HomeBUYERS, Inc. will help evaluate the pros and cons of the particular properties and whether the cost of repairs is worth what the potential savings might be in making this purchase. HUD and
  • Banks will do no repairs.
  • FOR HomeBUYERS, Inc. can recommend inspections that should be conducted in order to determine the functionality of systems and the cost of repairs. FHB can also coordinate the inspections – HVAC, professional home inspection, well, septic (if applicable), termite, etc.
  • FOR HomeBUYERS, Inc. will advise you of the lowest possible offering price based on the comparable sales of neighboring properties and that may be well below the market value, including the cost of repairs. A low ball offer is acceptable but we will not make continuous ridiculous offers. If you are biding on a HUD property, you have to remember you are competing with other offers and you must consider how badly you want the property.
  • You stand a better chance with your HUD online bid because FOR HomeBUYERS, Inc. submits a lower commission than most agents who usually include a 6 or 7% fee with the bid which is added to the price you are offering.
  • Most importantly, if FOR HomeBUYERS, Inc. feels the house is not a good investment or might be a risky investment, they will tell you, “Don’t Buy This House.”
  • There are many pitfalls of which you should be aware when purchasing foreclosed homes and FOR HomeBUYERS, Inc. will guide you around and through the pitfalls to a satisfying closing.

For a FREE, no obligation consultation Contact Us Today to learn how Exclusive Buyer Representation can benefit you when purchasing a foreclosed home. You may call or text 919-219-9878.