Foreclosures in League City
We get calls all the time from people that are interested in buying a foreclosure. These are smart buyers looking for a good deal. In most of the neighborhoods here the Foreclosures in League City represent only 15-25% of the total sales and current inventory. HAR (Houston Area Realtors) reported that overall, our 7-county-market was comprised of about 19.3% foreclosures.
The foreclosure “myth” is that foreclosures are your best deal. This is really not always so. Two of the best deals we wrote last month were on homes from individual sellers.
Often, Foreclosures in League City are actually listed above (at least for our area) the current market price. In addition purchasing a foreclosure is not always a very buyer friendly process. Sometimes waiting to get an answer on your offer can take a while. Depending on the bank that has the foreclosure you may be the one that is responsible for having utilities turned on if you want to have inspections done. If you are already pre-approved you may be required to get a 2nd pre-approval by a bank that has been designated. Also bear in mind that when purchasing a foreclosure you are purchasing a property that has often suffered from deferred maintenance, meaning they can potentially become a money pit.
There are some good deals on foreclosures out there. Just don’t bypass some of the other homes listed on the market that may actually have less impact on your bank balance by the time everything is said and done. Every foreclosure is not, by definition, a bargain.
If you do end up buying one of the many Foreclosures in League City I definitely would recommend that you get an agent that is experienced in foreclosures to help you. With us on The Bly Team we have agents that specialize in purchasing foreclosures. As difficult as the buying process can be purchasing a foreclosure you definitely want to have the advantage of an agent that is very familiar with the process and can help you avoid some of the common pit falls.
The Bly Team has over 60 years of combined Real Estate Service and experience. Call our office. We can help you find your "deal" in today's marketplace. In the mean time visit our foreclosure info page to find out more about the different foreclosures.
Deborah Bly Selling homes in League City TX
RE/MAX Space Center
217 East Main Street
League City, TX 77573