Buying a Bank-Owned Home - Boise Idaho Real Estate - Part 7 of 7
Part 1 , Part 2 , Part 3 , Part 4 , Part 5 ,Part 6
Part 7: Closing on a Bank Owned Property
The final step to buying a bank owned home is signing and closing is very similar other home buying transactions with one item to remember.....
The item to know about with the bank owned homes is pretty simple.....
Most banks have a three day review period worked into the addendum for review of closing documents.
Normal transaction closings will be completed when buyers funds are received and title is recorded. The three day review period ads a little time to the closing once the buyer signs all the documents.
In summary:
Yes, buying a bank-owned property has a few quirks to it....all the more reason to have a real estate agent working on your behalf to negotiate the best deal and keep you informed along the way. The purchasing power is amazing right now, especially with bank owned homes. Dont let the steps I have layed out scare you. Contact a buyers agent like me to guide you along....
Idaho Sunrise
Buying a Bank-Owned Home For Sale - Boise Idaho Real Estate - Part 7 of 7
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Why Buyers should hire a "Buyer Agent"
Eric Bracht
Boise/ Meridian / Eagle / Kuna Area Real Estate Expert
SEARCH MLS Listings Like an Agent Here
(208) 991-4552 TEXT/Voice
Silvercreek Realty Group
Love your series on buying bank owned homes in Boise Idaho - do you have a lot of REO properties for sale in your area - we don't have too many here, about 10%. It can be a tricky process - a buyer really needs a buyer's agent for this process, foreclosures are an interesting purchase - I think!