Buyer Beware Advice on Buying a Foreclosure

There are hundreds of foreclosed houses available for purchase in Bay County, but there are many factors to consider before deciding to make one of them your next home. That’s the subject of a free 3 hour workshop at the Bay County public library Saturday.

Denise Quintana and Diane Rushing are realtors with Coldwell Banker Carroll Realty. They joined Donna with some buyer beware advice.

Here are some basic tips when buying a foreclosure.

1. Get your finances in order- set your budget and obtain a Pre-qualification Letter or Proof of Funds
2. Understand the rules before you offer- your ability to pay for, inspect, or research the property after you contract to buy may vary widely
3. Research the property before you offer- as much as possible inspect the premises, review the title, analyze the value
4. Get professional help- assemble a team of professionals who work within the field to help and guide you through to a satisfying conclusion

The Buying Foreclosure Homes Workshop is Saturday, March 9 from 9:30 to 12:30. Its free and open to the public.

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