Buying NH Foreclosures

To me it is no different that buying a used car from a dealer and having your mechanic look over the car. The dealer does not know much about the car or the history but you can have your people look and get the advice you need.

Buying NH Foreclosures – Inspections
I am also asked can we do inspections or will my deposit be refunded if issues are found. Yes and Yes. You can do inspections; usually the bank wants less then 10 days to complete the inspections. This seems quick but is totally doable if the listing agent knows what they are doing so they can get the house de-winterized and fuel delivered if needed. The banks do not have time to squabble over a couple thousand dollars so they will release the deposit and try to get it back under contract asap.

A good place to spend a few moments is also the town hall. Talk with the building department and ask to see the folder on the property. There will typically be all the permits they pulled, inspections by the town etc…

The best part of buying an REO is that the banks typically price them under the market conditions and will negotiate even more so you can get a very good deal on one.

Some of the times there are delays in getting answers from the bank. Hang in there and keep asking. Usually my turnaround time is less then 24 hours with the banks I deal with. Federal type banks can be a couple days, up to a week….

Hope this helps…. Happy House Hunting.

John 

Search for your dream home at www.JohnMRealty.com