The first step is to sign up for our FREE list of Bank-Owned Properties . . . You will get updates directly from the MLS (not from a third party company) within minutes of a new listing hitting the market - this will give you an edge on getting in to see the best deals. In your email to us, tell us what city you'd like, the minimum number of bedrooms and bathrooms, the price range (or your monthly budget) and whether this will be for yourself or an investment property. If the properties we send you are not in your price range, are too big, are too small or are not in the area that you want - please call or email Kevin to make make the corrections - Kevin’s phone number is (925) 595-0422 or email to Kevin@Bank-Owned.biz
LET’S GO SHOPPING!
If you see a property that looks interesting to you - please call immediately and let’s go have a closer look at it . . . the best deals get snapped up very quickly . . . good condition + price lower than others the same size = GREAT DEAL . . . There will be hundreds of properties to choose from - the key is to be selective and know the market - going on a BANK-OWNED PROPERTY TOUR is the best way to really recognize a Great Deal when you see one. We can take you on a Bank-Owned Property Tour any day of the week - we will show you up to 20 properties and you will start to see the differences between a good deal and a GREAT DEAL! During our tour we can answer many of the questions that you may have about buying a Bank-Owned Property.
PAYMENTS AND BUDGETS
An older $100,000 house is going to cost approx. $800 per month with $3,500 down
A newer $200,000 house is going to cost approx. $1,600 per month with $7,000 down
A newer MANSION runs $300,000 or so and is going to cost approx. $2,400 per month with $10,500 down
These are rough budgets and are based on a 30-year fixed rate loan through FHA and are subject to credit approval and FHA Guidelines. In many cases, the total monthly cost will be less than RENTING - - - and - - - you will get a nicer home along with a large tax write-off that could save you thousands of dollars each year on your income taxes.
ABOUT US
REMAX is the largest real estate company in the world with over 100,000 agents in 65-different countries . . . Nobody sells more real estate than REMAX . . . REMAX Accord has over 400 local agents and is the largest real estate company in the East Bay Area. Brothers, Darin and Kevin O’Brien are experienced agents who know how to make deals happen for YOU! Buying a Bank-Owned Property is tricky to say the least - and the best properties are getting multiple Offers - we know how to get YOU into the deal and then we help you through the entire process - - - we help you find the perfect property for your needs and then jump in to help you co-ordinate the purchase, the inspections, the financing, the appraisals and the escrow - there are a lot of steps to buying a normal property - - - There are twice as many steps in buying a Bank-Owned Property.
To make an Offer on a Bank-Owned property you will need to have a pre-approved loan in-place. The timelines are critical and you have to be ready to go once you find a property that you want. We have partnered with one of the larger FHA Mortgage Companies in the area - AMERITECH MORTGAGE has over 50 Loan Officers in their Walnut Creek office and has access to almost every major loan program available - FHA, VA, Cal-VET and a wide variety of conventional loans. FHA loans allow lower FICO scores, co-signers (who do not live at the property), gift funds (for the down-payment), 30-year FIXED rates and 3-1/2% down-payment loans. FHA loans are for buyers who intend to live in the house. For investors who plan on renting the property after they buy it - we have a wide range of fixed-rate loans - some as low as 5% interest. Getting Pre-Approved is FREE and takes about 15-minutes on the phone with a Loan Officer. There is no obligation to complete the loan and you can use your Loan Pre-Approval for ANY property in any area of California. KEN FAHR is the Senior Loan Officer at Ameritech Mortgage.
