Advanced Class on Demystifying Bank Owned Homes

On Thursday we will be introducing our newest home buying class, Buying Bank Owned Homes and Short Sales.

This class is designed to help home buyers sort out the differences between buying a bank owned home and buying a short sale. We’ve also invited some excellent advisors to join us and there well be free food.

We all know these homes are priced better and sell for less, but why? And which type of home is better for you?

5 reasons to attend:

  1. Free food
  2. Free beverages
  3. Free desert
  4. Free advice
  5. Did I mention its free??

Well, if all the free goodies aren’t enough, then you won’t be disappointed with the agenda. Here is a sneak peak of what we have planned for you.

Part 1: Market Statistics

  • What percentage of homes that sell each month are bank owned? – 53%
  • What percentage of the homes currently for sale are bank owned? – 21%
  • How can these numbers be so different?

Part 2: Pricing Data

  • Will a short sale sell for less than a bank owned home? – No
  • Why not?

Part 3: Bank Owned Homes

  • How do banks price their home?
  • How low can my offer be and not get rejected?
  • What is the best way to negotiate with a bank?

Part 4: Short Sales

  • Is the listing price the real price?
  • Why do short sales take so long to close?
  • How do I know if the short sale is worth putting an offer on?

Part 5: Auction Homes

  • Who buy’s at the auction?
  • Can I buy a home at auction?
  • Are the best prices really at the auction? – Not really

Part 6: Financing a Distressed Home

  • What’s the scoop on interest rates?
  • When should I lock my rate?
  • What property conditions prevent financing?

Part 7: Negotiation Strategies

  • Bank owneds, stale = leverage
  • Short sales, the right questions make all the difference
  • Stats and Data: the truth behind how much negotiation happens

Part 8: Home Inspections

  • How to look for yourself
  • Is it deliberate damage or differed maintenance?
  • What an inspector won’t find

Part 9: Home Warranties

  • Why do you want a home warranty?
  • What isn’t covered in a home warranty?
  • What to do to ensure if it breaks, its covered

Part 10: Title and Closing

  • How to make sure your title is lien free
  • MERS and its recent impact
  • Short sale pitfalls

There will be plenty of time for questions, as your questions make the class far more valuable to everyone attending.

We’ll be providing Some Burros for dinner along with drinks and treats. So come hungry and ready to learn!

… Don’t forget to RSVP for Demystifying Bank Owned Homes and Short Sales

Got Questions? Feel free to send me an email.

Author of this Post

If you have questions or comments just leave them below or get in touch.

Marcus Fleming

marcus.fleming@redfin.com
Serving East Valley, Cave Creek and Scottsdale
Homes Closed: 70+