Arizona REO's - Finding a Good Deal.

How do you find a good deal on an Arizona Foreclosure Home?

This is one of the questions I am often asked because I list and sell bank owned homes in Glendale, Peoria, Goodyear, Phoenix, Surprise, Litchfield Park, Laveen and other Metro Phoenix cities. We even have bank owned homes in the outskirts such as Anthem, Chandler Heights, Rio Verde, Desert Ridge, Fountain Hills and Cavecreek.

After all, when you buy a home that has been foreclosure you do not get to talk to the former owner to find out about past problems like the leaking kitchen sink or termites that were treated last year. You have no information on the age of the appliances or if the heater barely works, and what about those cracked ceramic tiles? Are they serious?

So, how do you know you are buying a home that doesn't come with a lot of baggage? You really don't, but you can have the home inspected. Many of the banks that own foreclosure homes in Arizona will want you to take the time to have the home inspected properly.

Sometimes, there are short inspection time-frames and maybe you will want to do a pre-inspection on the home you are considering buying prior to writing an offer the the property. This can be especially true if there appears to be a lot of damage that could be very costly to repair, or a home that the bank states they will absolutely do - no repairs.

Once you have an initial inspection report completed, go over the report with both your inspector and your Arizona realtor. Ask them questions to help you determine what might be the problem areas with the home. Get further inspections as needed - such as an a/c inspection, or roof inspection. Check with local contractors and get an idea of the total cost of the repairs.

Crunch numbers on the repairs and if need be go back and re-negotiate the price of the home. We can help you work with the banks when presenting an offer on a bank owned foreclosure home or REO property.

If you have a realtor make sure the realtor who is representing you knows what they are doing and that they have the experience to work on selling fix up homes. Don't let your dream home become a nitemare home.

After all, living in Arizona you definately want your air conditioner working in top condition. The same is true of other systems with the home. If there is a gas heater have the gas company come out and check connects and do an initial inspection while they turn on the gas. Spending a little extra time inspecting a bank owned home could save you a lot of money in the long run and also help you to determine if you are getting a "Good Deal on an Arizona Foreclosure Home".

We have listed and sold bank owned, REO homes in the Metro Phoenix area and have overseen the repairs to homes in the Metro Phoenix, Goodyear, Scottsdale, Surprise, Peoria, Glendale, Gilbert, Fountain Hills, Litchfield Park, Tolleson, and Laveen areas.

As a first time buyer, the seller can help with down payment assistance and the renovation of the home can be built into your new home loan. This way you can get a "Great Deal" and a bargain price too.