Your Dream Home Just Got Affordable
Buying your dream house should be a wonderful experience. But for many individuals and young families, the house they feel they can call home is out of their reach financially. But, with foreclosures and HUD homes, these same people can get into a wonderful house for a fraction of the price.
What Exactly are San Antonio Foreclosure Homes?
There are a few different kinds of foreclosure homes. A pre-foreclosure is a home which is in danger of falling into foreclosure but is still owned by the homeowner, while a foreclosure property has already been repossessed by the lender who will sell it at auction to recoup some of its money.
Pre-foreclosures and foreclosure homes can typically be purchased at a low-than-market-value price, sometimes much lower. In the case of a pre-foreclosure, the homeowner is looking to sell the home very quickly to avoid going into foreclosure. Banks are also willing to sell properties at deep discounts because the longer they hold these homes, the more they spend in taxes and maintenance.<|p>
A HUD home is when a government-backed FHA loan is foreclosed and the Federal Housing and Urban Development (HUD) pays off the loan, then puts the home on the market to recover losses.
HUD homes are typically first offered to owner-occupied purchasers. Should the home remain unsold, the property becomes available to all qualified buyers including investors.
Avoid Risks by Working with an Experienced Realtor
While bargain prices can be found for a variety of homes, including starter homes and luxury homes, getting a quality home that requires little or no work can pose more challenging. Sometimes these properties are only in need of minor repair or upgrades and, after a bit of sweat equity, can begin to appreciate in value.
Other times, however, you can end up with a real money pit if you’re not careful. That’s why you need to work with a trusted realtor who can guide you through an inventory of bargain homes.
I’ve helped countless clients make their dream of home ownership a realty and I’d love to help you do the same.
If you’re looking for San Antonio foreclosure homes and HUD homes, or have any questions about buying these types of properties, You can get in touch with me today.