4 Important Tips When Buying Santa Cruz Foreclosures

Posted by Lauren Spencer on Monday, August 3rd, 2009 at 9:27am.

Buying Santa Cruz foreclosures can be an exciting task. And the thought of getting a great deal on a home can literally make you giddy. But before you get caught up in all the good things about buying a foreclosure, there are still many details to sort out before you get the keys to your dream home. 

When buying a foreclosure, you should:

1.  Get help
Purchasing a foreclosure requires a lot of knowledge, skill and attention to detail. From real estate agents and home inspectors, to attorneys and investors, you'll need the help of professionals to see you through the process. You will have your hands full, so seek out help ahead of time.

2.  Work fast
When it comes to getting Santa Cruz foreclosures, sometimes, your favorite property may also be someone else's favorite. That's why, as soon as you find the home, do your research so you can submit a knowledgeable bid on the property early on.

3.  Do your research
Research details about the property. Many surprises can pop up, so it's important to spend the extra time finding out everything you can about the property, including whether or not the home has any liens on it. Although this can be a bit of a roadblock, you may be able to negotiate.

4.  Factor in risks
Lots of times, when buying foreclosures, the home is sold as is. It's up to you to decide if you're willing to renovate or update the home as needed. If so, just make sure you have enough money to cover any needed repairs or cosmetic work.

If you're interested in getting a foreclosed property at a great price, give me a call today at 831.662.6522.  I specialize in guiding people through the foreclosure process, and I'm happy to answer all your questions.

 

LINKS

Bid on property

Liens

Cosmetic work

 

About Lauren Spencer

Award-Winning Santa Cruz REALTOR®

Lauren Spencer is your local real estate expert, specializing in Santa Cruz real estate and surrounding communities—this is where she lives, works, and plays too. Let her know your questions about the community and county and she'll be happy to fill you in on all you want to know! Lauren Spencer has consistently been voted best local REALTOR in Santa Cruz and is always happy to offer her advice and expertise. Call her at: 800.226.4717.

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