Know The Score: For Sale By Owner Vs. Foreclosures At Auction

The great economic downturn has brought several negative impacts on the financial stability of many Americans

. Several people across the country have experienced bankruptcy due to unemployment. Also, stock market values have been volatile since years ago. However, such dilemma should not hinder anyone from achieving his/her dream, such as to have his/her own home or to have an investment to secure his/her future. Now is the best time to obtain ones goals by buying a low-priced real estate property. But where is the best place to begin?

Evaluating FSBO Houses

Buying a for sale by owner or FSBO property is considered as one of the most ideal ways of obtaining cheap homes. Unlike traditional sales procedures, it involves the marketing and selling of the property directly from the proprietor. And as buyers will directly transact with the owners, there is a greater chance of having the price lowered or negotiated.

However, despite this advantage, buyersespecially those without real estate experiencecould find the process quite risky and dangerous due to the following unfavorable outcomes:

Lack of Guidance from Experts. Agencies and real estate agents are specialists in this type of industry. Thus, without their expert opinions, buyers would be in a relatively disadvantaged position. Given their familiarity on the real estate market, agents can provide any buyer with a list of on-sale properties that meet their needs and preferences. Also, agents can keep them updated with the most recent prices and most updated news about the industry. Realtors, as they are well-versed in the industry, can come up with the best deals that can boost profits and yield great returns.

Higher Cost of Professional Fees. Avoiding the commission of an agent by opting to buy FSBO houses might cost buyers even more money than settling for a broker or an agent. Combining the stress, pressure, and cost of paying for appraisers, inspectors, and even lawyers, investors and buyers might be surprised to know how much savings they can get from seeking an agents assistance instead.

Problem Concerning Legal Matters. Realtors and agents are doing thorough research on every property they put on sale; so, complications on legal issues, such as fake deeds or difficulties in title transfers, can be eliminated if they opt not to buy for sale by owner properties.

Stressful Negotiation Periods. By seeking the help of an agent, the predicament of getting stressed during the course of the transaction can be avoided. Certified realtors are excellent negotiators and can definitely come up with the best and favorable deals for any aspiring investors or buyers.

Participating in Foreclosures at Auction

Purchasing real estate properties can sometimes be a long and stressful process. Nevertheless, considering a purchase from foreclosure auctions can be a worthwhile experience. The list below shows some of the advantages of acquiring a property through foreclosure auctions:

Lower Market Price. Purchasing a distressed property is a perfect opportunity for investors and homebuyers to acquire assets in practically half of its actual price or even less. Moreover, sellers tend to trade them quickly at auctions enabling buyers to take advantage of the great bargain.

Save Time and Money. Buying through auctions can save a great deal of time and money as it lessens the costs of seeking potential houses for sale or transacting with a number of owners.

Easy Transactions. Purchasing a foreclosed property requires a buyer to bring only a check or cash for down payment in the event he/she becomes the highest bidder. After settling the down payment and filling out some forms, the buyer can easily and quickly move into the property.

Clear Title. Properties from foreclosure auctions have gone from a thorough research. This ensures that the buyer will not have to worry about any charge, mortgage, or back taxes from the previous owners.

Buying for sale by owner houses can be a great deal. However, purchasing properties through foreclosure auctions, with the help of a real estate professional, is far more ideal and convenient than the other.

Boost your options!

Meanwhile, should you be in the lookout for a comprehensive and accurate list of foreclosures on sale, activate your free account with ForeclosureMagic.com. They offer a large and complete database of the best-priced distressed properties on sale, thus giving you the maximized opportunity to purchase houses at discounted prices. With ForeclosureMagic.com, you cant go wrong. Activate your free account now!

by: Greg Andrews

POST COMMENT

Taking Advantage Of Foreclosure In The United States North Jersey Sees A Dramatic Spike In Foreclosures What The Current Economy Has Done To Foreclosure Listings Foreclosure Vs. Short Sale: Which Makes A Better Deal? Fulfilling The American Dream With Hud Foreclosures Mortgage Foreclosure: One Step Closer To A Cherished Dream Major Spike In Wisconsin Foreclosure Filings Reported This May Nationstar Mortgage - Get Assistance To Avoid The Foreclosure Process Hiring A Foreclosure Attorney Pnc Profits Plummet Due To Foreclosure Lawsuits When Should You Hire A Foreclosure Attorney? Bank Of America Foreclosure Rental Pilot Program Three Tips For Mn Foreclosures