Homeownership Made Easy with Wachovia Homes for Sale
Homeownership Made Easy with Wachovia Homes for Sale
Wachovia homes for sale are attractive investment vehicles because of their low cost and added perks and incentives. Banks like Wachovia are not in the business of property management but they rake up foreclosed properties because they are the leading provider of home financing to the market. Once economic difficulties strike, home mortgages are the first things to take a hit. Banks initiate foreclosure proceedings against their borrowers with the end being that they become the owners of the foreclosed homes.
Wachovia homes for sale are offered across the country at prices that are way lower than their market value. The bank is under some pressure to sell off these homes because they are categorized as non-performing assets that are a steady drain on bank resources. Banks need to be creative in packaging these homes to make them attractive to buyers. It is not enough that they offer a big discount on the listing price, there has to be some incentives to stimulate prospective buyers.
The Package
Once a property becomes bank-owned or real estate owned the mortgage is extinguished. Buyers will get a title insurance as well to protect them against hold or liens attached to the title. There will typically be a minimum level of pest certification. The home would have already been appraised and the former occupants already evicted.
While it all sounds like a pretty package Wachovia homes for sale are sold as is and will definitely need repairs to restore them to a livable state. Buyers will also shoulder the cost of a home inspection which need to be conducted by a professional. This is a vital part of the buying process as it has an effect on your overall costs. Your budget should take this cost into account as well as other incidental expenses that could crop up.