Dallas Foreclosure Tips

I want to share with  you the top five things you need to know before you buy a Dallas Foreclosure Home.

The Dallas foreclosure market is HOT and there are great values to be had.  But don’t venture out there before you develop a plan.  Here are the top five tips.

1) Document your financial readiness:

If you are using cash for the purchase of a foreclosure, get a bank statement ready for proof of funds.  If you will be using financing get a pre-approval letter from the lender that will give you the best terms and service.

2) Retain a professional Agent who has experience in buying foreclosed homes.  This person will be your best ali.

3) When you find a home that you like have your Realtor complete a Comparative Market Analysis, commonly referred to as a CMA, to determine the value of the home.

4) Have the home professionally inspected and calculate the cost of repairs and upgrades. 

5) It is a misnomer that you can steal a foreclosure home.  If you really want the home take a look at your CMA and your cost of repairs and decide what sales price makes sense to you. 

Go with your best offer and you will have no regrets.