People from all walks of life can find themselves in financial circumstances that could cause them to fall behind on their mortgage payments. When a homeowner falls behind on his mortgage note, the lender can foreclose on the property. The property then goes on the market. If you are looking for a home at a great price, foreclosures for sale in Inwood, WV may hold some great deals for you. There are several advantages to buying foreclosed properties.

  • Quick sell – A bank has no reason to want to hold on to a foreclosure property. They are motivated to sell the home quickly. The bank is losing money by not receiving mortgage payments on the home. These homes are often sold below market value. The sooner the bank sells the property, the sooner they can recoup some of their losses.
  • Free repairs – Foreclosures for sale in Inwood, WV may need a little work, such as a new paint job, roof repairs, or to have a carpet replaced. To sell the home quickly, the bank may be willing to complete these repairs for you, free of charge. This could be a part of your negotiation in reaching a selling price agreement. It may be a good idea to have an independent inspection completed which will list all the necessary repairs. Your inspection may show needed repairs that were overlooked by a previous inspection or one completed by the bank’s appraisers.
  • Bank concessions – The lender may be willing to work with you and absorb some of the costs related to foreclosure properties. It is in their best interest to pay these fees to complete the sale of the property quickly. These fees may include inspection fees, taxes, and other costs of buying the property.
  • No occupants to deal with – One great advantage to purchasing a foreclosure property is that you do not have to wait for anyone to move out of the residence. As soon as the sale is complete, you can begin your plans for moving into the residence.
  • Broker fees – Most broker fees for foreclosure properties are paid by the seller – even in cases where you have a real estate agent helping you complete the sale.

If you have been searching for a home, but have not found one within your price range, foreclosed homes for sale may be the answer you have been looking for. There are many desirable foreclosures for sale in Inwood, WV. Check with your broker for listings for all foreclosure properties in your area. You might find a bargain that is too good to pass up!

Foreclosures for Sale Inwood WV – For more information about the advantages of buying foreclosures for sale in Inwood, WV, contact broker Andy Waldo about foreclosure and short sale listings in your area, visit Andywaldo.com or call (540) 542-0088. Brokers are available to help you through the entire process of buying or selling a home.