Foreclosures Placerville

Foreclosures Placerville

Trust Callie to bring you all the Foreclosed Homes in Placerville, CA

At Callie Homes Real Estate Agent in Placerville, we are passionate about bringing you the best deals on homes in the Placerville, CA area, and that is why we recommend that you start with foreclosures in Placerville. Foreclosures and bank owned properties are a great way to save money on residential homes and real property. At Callie Homes Real Estate Agent, we have the expertise to get you the deals you want on the properties you need in the Placerville, CA area. Many home buyers are not familiar with foreclosures and do not fully understand the way the process works. Here are a few of the FAQs we get about foreclosures in Placerville, along with some good advice for what to expect when you buy a foreclosed home.

Can I get financing for a foreclosure?

Yes! Foreclosures are real property, and they have intrinsic value just like homes sold conventionally. The question of whether your particular bank will make a loan for an individual property can only be determined on a case by case basis. It helps if you get pre-approved for a loan before beginning to shop for a foreclosed home, because foreclosure sales tend to move very fast and another buyer could close on the property you want in the time it takes you to get approved for a loan on it.

Can I buy a foreclosure in Placerville if I am going to be getting assistance from HUD or FHA?

The United States Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) often help home buyers get into affordable and high quality housing, including foreclosures and bank owned properties. However, foreclosures are sold as-is and the buyer is responsible for making any repairs that are necessary. If the property has problems with it that make it fail to meet HUD’s requirements then HUD will not provide assistance for buying that property. Therefore an inspection is necessary to make sure that a buyer can get HUD assistance in buying it. If you are looking for a foreclosure and are planning on getting HUD or FHA assistance, call Callie Homes Real Estate Agent today and we will help you with this process.

What does it mean that foreclosures are sold as-is?

In most conventional home sales, the buyer can ask the seller to make certain essential repairs on the property before buying. This is part of the sale negotiation. With a foreclosure, the bank is the seller of the home and the house is priced low to sell. Therefore negotiations generally do not include repairs. The buyer will have to make any necessary repairs to the home. This is usually not a problem if the buyer is prepared to fix up the property, or if the home does not require any repairs. The last thing you want is to end up with a house that requires repairs you did not expect to have to make. This is why it is so important for you to get a thorough and objective inspection done on the property before you buy it so that you can know exactly what you are getting.

I see a foreclosed home online that I like. How much time do I have to decide whether to move forward on it?

This depends on several factors, such as the market for homes of that type or in that neighborhood. If demand is high, it may sell within a few days or even less. If demand is low, you may have a bit more time. It is never wise to wait on a foreclosure because they are priced to sell and many buyers are looking for these amazingly low priced homes. If you see a foreclosed home you like, give Callie Homes Real Estate a call today so we can schedule a viewing with you.

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