FORECLOSED PROPERTY IN SW MICHIGAN

Homes are available in all areas, all prices and all styles.  Houses, condos, duplexes, even multi-family investment properties.

Banks and mortgage companies have THOUSANDS of foreclosed properties and they want them SOLD.  These properties can be a great bargain, or they can be the biggest mistake a buyer would ever make.

Buying a foreclosed property is very different from buying a property being sold by a typical home seller.   Foreclosed property is not for everyone. 

We are the #1 foreclosed property expert in the area and have helped many homebuyers save thousands of dollars.  But maybe more importantly, we've been able to help them avoid making mistakes.

These homes are SOLD AS-IS.  Can you afford to work with someone inexperienced in foreclosed properties?

Our experience, our process and our systems not only will help SAVE YOU MONEY, but will help protect you too!

  We don't charge for lists.  We don't charge for membership.  We don't charge for information.  We don't charge for ANYTHING.  This site is free and without obligation.     So how do we get paid???  Why do we do this?  Because we get paid by the seller (the bank) IF you buy a property using us as your agent.

We are real estate agents that have learned about bank owned homes and how to help home buyers get great deals.  This is our specialty, our job, our area of expertise.  We communicate directly with the banks and mortgage companies that sell foreclosed property, but we work for you. 

If you have an interest in home buying, and you believe that a foreclosure property may be for you, we will be happy to send you information, INCLUDING lists of foreclosed properties that match your criteria.

The first step is to call the number you see above and to the left OR to fill out the form and we will contact you via email

Common myths and misunderstandings about foreclosed properties:

1.  "Foreclosed homes are always trashed."   FALSE.       Yes, some of them are trashed, no doubt about it.  Others are clean and neat in in good repair.  Typically, there will some maintenance items that have been put off by the previous home owner. But most are in at least "average" condition.

2.  "Foreclosed homes always have hidden liens that can rise up and burn a buyer later.  FALSE.     Just like any other property, the seller provides a deed and title insurance to the buyer.  Yes, the title history of the property may require closer scrutiny, but that is where our advice and expertise comes in.

3.  "Foreclosed homes can be bought for pennies on the dollar"  USUALLY FALSE.    While it is TRUE that foreclosed properties are being sold in other parts of the state (east side) for a few hundred dollars, our area of expertise is SW Michigan.  But it depends.  If you are an investor with an interest in buying properties in "depressed areas" or "areas of "declining values" we have access to homes that need some repairs for under $10,000.  Actually, we have access to a LOT of those homes.  We are actively seeking investors who specialize in those areas and can appreciate the cash flow advantages of such properties.

4.  "Lenders are offering HUGE DISCOUNTS on foreclosed properties"   USUALLY FALSE.    Here is the reality....corporations who own and manage a portfolio of real estate are not stupid.  They are not going to sell a property worth $100,000 for $50,000.  Following is a brief summary in the life a foreclosed property:  The lender gets the property back via foreclosure.  The property is inspected, winterized, & secured.  Then the lender hires an appraisor to determine the market value.  They also hire at least one real estate agent to provide market value information and opinions.  The property is listed with a real estate agent that specializes in bank owned properties and is placed for sale.  Now for example, let's say the market value of this property has been determined to be $100,000.  The lender/seller is aware of the local market conditions.  They are aware there may be plenty of other properties in competition with theirs.  So they may price their $100,000 property at $85,000 in order to sell it quickly.  But, will the lender/seller accept an offer of $50,000 the first month the property is on the market?  Not likely, is it?  Now let's say the appraisor and the Realtors were wrong in their assesment of the value of the property and the property did not sell the first 60 days it was on the market.  What the seller/lender will do now is examine where they were wrong and probably reduce the listing price about 10% down to $77,500.  If the property remains unsold after another 30 days or so, they will reduce their list price again. An so on, and so on, until it is sold.  In general, the longer a foreclosed property sits on the market unsold, the cheaper it gets.

5.  "Foreclosed properties are sold AS-IS so they are a big gamble"   FALSE.  Yes, it is true that most foreclosed properties are sold AS-IS but that doesn't necessarily make them a gamble.  A buyer has an inspection period, just like any property, where they have the ability (the responsiblity in our view) to have the property inspected.  We can help by providing a list of qualified, experienced inspectors.  We strongly urge our buyers OF ALL HOMES, foreclosures or not, to have thorough inspections performed by qualified inspectors. 

6.  "Foreclosed properties are great deals only if you have cash to buy them"   FALSE.  Just like everything else, seller prefer cash.  But some lender/sellers have special financing in place specifically to sell their inventory.  Even if the seller/lender does not offer special financing, foreclosures are no different to finance than any other property.  Of course we have lenders in place that have proven to be reliable and dependable.  Lenders we can count on to provide great rates, terms and service.

7.  "The foreclosed home process is very confusing"  FALSE.  This is our business, it's what we do every single day.  We are the experts in saving you money and experts in the process.  We make it a point to keep our clients informed, comfortable, and aware of every step of the purchase process from start to finish.  The foreclosure business is like any other business in many ways.  If you're not involved in it in a daily basis, it can be confusing.  We are involved every day in foreclosed properties  with the best interests of our clients and their needs placed as our highest priority.