Looking for a good deal. Many people think buying a White Lake foreclosure can be a bargain. But that is not always the case. Sometimes what the banks are pricing the foreclosures at top dollar. The White Lake foreclosed home may be in poor shape for the price.
So one of the keys in buying a foreclosure is to know what similar homes are selling for. You as a buyer need to know what it may cost you to fix the house up to what other fixed up homes. Sure a fixer upper foreclosure may be selling for $30,000 below what other homes are selling for. However if it is going to cost you $50,000 to bring it up to the other similar White Lake homes then it probably is not the best deal at the moment.
You should be putting a lower offer to make it a bargain. In this market many banks are not taking low ball offers. So you may need to wait until the home sits on the market for a while. Then make smart offer. Remember buying a home is one of the biggest financial decisions you make in your life. So be smart and make a good decision on what to offer.
If you are a Michigan first time home buyer and need help on where to start feel free to call me on my cell phone (313) 310-9855 or email me at yesmyrealtor@gmail.com
