In the current market, the media may be providing hype about very good deals in foreclosures, REO and short sales. It is a possibility of getting a good deal in foreclosure properties, but you may get some surprises also. There are certain advantages of buying a new home:
1. NO REPAIRS: You would not be spending any immediate money in repairs. Foreclosure and short sale home may need immediate and expensive repairs. New homes also have builder’s warranty for workmanship, materials and structural problems.
2. GUARANTEED QUALITY: The new homes are build using latest codes and modern technology. Generally they have higher energy efficiency rating, which means lower utility payment for you. Builders warranty provides peace of mind.
3. NO SUPRISES: In foreclosure homes, the seller which is usually banks do not need to disclose any history. You may not be getting what you are seeing in foreclosure homes. In new homes, the seller and builder are liable for disclosing the facts and also warranty the product.
4. EASIER FINANCING: Developers usually have relationship with lenders which makes easier for obtaining the loan. In this market, some of the builder are also offering heavy assistance in closing cost which makes it easier to purchase with low down payment.
5. FAST CLOSING: You do not need to go in bidding war like on some foreclosure properties and do not need to wait for bank approval on a sale. Short sale process may take months. Usually developers have ready to move in homes, which you can occupy in 4-6 weeks.
El Centro, Imperial, Calexico and Brawley CA Listings for Sale and Real Estate Services– Jay Goyal, Broker, your Real Estate experts with one of the areas fastest growing real estate firms. Call me today and let’s discuss how I can help you save $1,000s when you buy, invest, or sell real estate. (760) 587-0573 or email@example.com