Crazy Advice That Works

If you’re tired of bashing your head against the wall trying to buy a bank owned property or a short sale, consider a different approach. My clients have had success in buying homes from the bank by making offers on multiple properties without seeing them first.

Notice I didn’t say buy the house without seeing it, I said make an offer without seeing it. There are two good reasons for this. First, you can get your offers in faster without trying to coordinate your schedule with your spouse and the Realtor. Sometimes by the time you see the house it’s already tied up. Second, you save the emotional wear and tear of seeing homes you like and not being able to buy them.

The fact is you won’t be able to buy many of the homes you see on the computer. Why not? Because they are short sales that won’t work out, or they are bank-owned properties that will sell for all cash, or they are condos that are not FHA approved, or dozens of other reasons I could fill this blog posting with. So why run yourself ragged and fall in love with homes you can’t buy? Why not figure out which ones you can buy and then do your homework on only those?

How do you find out which ones you can buy? By making offers on them. If the bank likes your offer, you will be sent an addendum to sign. All banks do this, since they don’t want to use the Realtor forms that are different in each state. They make their own forms that their own attorneys have approved and you will need to sign that before the bank proceeds. Getting the addendum means this is a house you can actually buy! Now that’s the time to go see the property and decide if you actually want to buy it! If you don’t like it, you don’t sign the addendum and we walk away. Meanwhile we keep making offers on new bank properties and short sales as they come on the market.

Will the market always be this crazy? No it won’t. But it is now, you can’t change it, all you can do is figure out how to succeed in spite of it. By thinking outside of the box you can achieve your goal while others are giving up in frustration. If you’d like to learn more about this crazy idea that works, call me at 800-469-6391.