I'm looking for my second home but this time I'll be buying a certified pre-owned home aka a foreclosure. It's been a singularly interesting experience.
The agent to which I was assigned used to sell new homes and as such has never done a resale, let alone a bank foreclosure. She was very kind but very novice, remarking at one point that a particular home needed a lot of work. She even took me out to lunch. I've never had a girl pay for a meal before, and it was quite interesting ;)
I learned a lot. People took a lot of things with them when they lost their homes, and some people described their homes in interesting ways. One of the most important things was leverage: there are so many homes for grabs in the area that I have quite a bit of bargaining power depending on how desperate the bank is.
I found two homes I particularly like and took my parents back to see them. One is basically a plug and play with very room left for change and the other will need a lot of work on the yard but has much more in the way of possibilities. Neither home was as nice as the one my parents own now, but both seemed better to me than ones we've owned previously.
No matter what I pick, a resale foreclosure will need work. I guess I don't really mind that; it will give me something productive to do.
The two homes I like the most so far:
Updated 23 March
But not in particular order.
No comments:
Post a Comment