Anchorage Alaska Foreclosed Homes
Foreclosures on AnchorageForeclosedHomes.com in the greater Anchorage area, are homes that have already gone through the foreclosure process and are back on the market. These properties are referred to as REO, Bank Owned, HUD, and foreclosures. In contrast the Bank Owned foreclosures are fairly straightforward and allow for the standard financing, inspection and due diligence period...much like a purchase.
Anchorage Alaska Court House Acquisition
There are other properties that are being sold at the Courthouse steps, which are riskier and require cash. Options are available in some instances to overcome the risk and lack of available cash, but require one on one consultation.
Buying an Anchorage Alaska Foreclosure
If you are house hunting, its true buying a foreclosed home through a licensed Anchorage Alaska REALTOR offers tremendous opportunity. Foreclosures can offer from $10,000 to $40,000 instant equity for home buyers and investors. We have done it and we can help you simplify the how-to’s of buying these deals. Foreclosures require additional attention to important areas in these purchases compared to a traditional retail home purchase.
You will want to make sure you know how to –
- Use a “Foreclosure-Trained” REALTOR
It can be an exciting to find and purchase a home, especially one with instant equity. You will want to ensure the home you purchase is right for you and that you have a specially trained Realtor knowledgeable in the intricacies of foreclosure properties to help guide you through the extra steps of this complicated process. That is why it is important to find a Certified Distressed Property Expert, (CDPE) Realtor.Be sure your Realtor knows the process or it can cost you a” Great Buy”.
- Know the property’s condition –
Few foreclosure properties are really move-in ready. Most need at least some paint, carpet and kitchen or bathroom repairs or upgrades. Others may need a new furnace, roof or other renovation. Learn what programs may be available to help pay for these costs.
No matter what type of home or investment property you are considering, getting prequalified for a loan will help you understand what you can comfortably afford. Once you have worked out your budget, learn how to continue on and figure out what you can expect to pay in monthly maintenance, repair costs or upgrades on your new foreclosure home.
Sometimes liens from the previous owner may continue with the property. Learn how to be careful, and avoid paying extra costs needlessly.
- Know the steps of the foreclosure buying process
The foreclosure process happens in various stages from distress properties, through short sales, to foreclosure auctions. Deals on houses vary, depending on the foreclosure stage. We will share a few insider tips on -
- how to structure your “Offer to Purchase”,
- how much of a loan you may need for both purchase and renovation,
- how long your buying timeline will really be, and
- how to know if they are any deed restrictions on selling your new property.
ANCHORAGE ALASKA FORECLOSURE CONSULTATION
Whether you are an Anchorage investor looking to expand your portfolio, an Anchorage Alaska real estate agent helping clients purchase property, a buyer looking to own a first home or condominium or maybe even a second home, this consultation is perfectly designed as an introduction to Anchorage Alaska investors, real estate associates, lawyers, professionals and home owners alike.
Demystify the Alaska Foreclosure Process & Learn