I want to share with you the top five things you need to know before you buy a Dallas Foreclosure Home.
The Dallas foreclosure market is HOT and there are great values to be had. But don’t venture out there before you develop a plan. Here are the top five tips.
1) Document your financial readiness:
If you are using cash for the purchase of a DFW real estate foreclosure, get a bank statement ready for proof of funds. If you will be using financing get a pre-approval letter from the lender that will give you the best terms and service.
2) Retain a professional Dallas Real Estate Agent who has experience in buying foreclosed homes. This person will be your best ali.
3) When you find a Dallas foreclosure home that you like have your Realtor complete a Comparative Market Analysis, commonly referred to as a CMA, to determine the value of the home.
4) Have the home professionally inspected and calculate the cost of repairs and upgrades.
5) It is a misnomer that you can steal a foreclosure home. If you really want the home take a look at your CMA and your cost of repairs and decide what sales price makes sense to you.
Go with your best offer and you will have no regrets.
