Negotiating your Phoenix Foreclosure Real Estate Transaction is something mastered by experienced Realtors.
Like with anything, experience builds confidence and confidence builds excellence. Negotiating a Phoenix foreclosure real estate transaction is no different. Most Realtors in today’s Phoenix real estate market have negotiated some foreclosure transactions if they have done business the last three years or so. That is not to say they are excellent at it.
Proper representation is important in a Phoenix foreclosure real estate transaction.
Proper representation is important in a a regular or short sale real estate transaction as well. This is just to point out that ‘proper’ representation in a Phoenix foreclosure real estate transaction is more times than not with a Realtor that has extensive experience in negotiating Phoenix foreclosure transactions. The main difference in negotiating with the Seller of a bank owned foreclosure property is that there is a chain of command that must approve and/or sign documents and each bank follows their own line of protocol and time frames. This translates overall to deadlines being strict, terms being firm and stakes being high.
Keep your emotions out of your Phoenix foreclosure real estate transaction.
Don’t take it personal that the bank wants to charge per diem fees if you don’t close on time or that they don’t want to replace the out-dated fixtures. A Phoenix foreclosure real estate transaction will state the homes are sold ‘as-is’ and there are other certain characteristics of a Phoenix foreclosure real estate transaction that are pretty much universal, such as;
- Earnest money needs to be in the form of a cashiers check
- Sellers will not provide Seller Property Disclosure Statements (SPDS)
- Sellers will not provide insurance claim history (aka CLUE)
- Home is being sold in as-is condition
- Per diem charges will apply if Buyer does not close on time through no fault of Sellers
- Buyer is required to re-key the home after closing
- There is no chance or pre-possession
Keep your eye on the prize and employ an experienced foreclosure Realtor to represent you and the process will go smoothly and stress free. Click here to contact us directly or complete the short form below if you are looking for Buyer representation in the Phoenix-Metro area. Our foreclosure team services Phoenix Valley Wide and has several experienced and knowledgeable Realtors dedicated to helping you with your Phoenix foreclosure real estate transaction.