Mountain Home, Arkansas
1357 Hwy 62B SW
Mountain Home, AR 72653
870-425-6282

What’s the Difference Between Buying Foreclosure Homes vs. From a Seller? September 20, 2017

Mountain Home, Baxter
What’s the Difference Between Buying Foreclosure Homes vs. From a Seller?, Mountain Home, Arkansas

If you’re house hunting, you may have come across foreclosure homes for sale that peaked your interest, but you’re unsure if the buying process is similar to that of purchasing from a seller. The real estate brokers at Gilbert Realty in Mountain Home, AR, have helped countless buyers close successful deals on properties throughout the area. They believe that understanding the differences between both types of listings will help you decide if it is in your best interest to pursue a foreclosure home.

Foreclosure Homes

foreclosure homesMost foreclosures occur when the owner can’t meet mortgage payments and abandons the house. The bank then seizes and controls the property, and as a result, the home has typically not had any repairs or inspections done on it. So, when you consider this kind of house, it’s important to keep in mind that you may encounter defects or issues you will be responsible for fixing. However, foreclosure homes typically sell for lower asking prices, and it is possible to get a very good deal on these properties because the bank is pressured to sell.

Private Sellers

When you purchase from a private seller, you can expect to learn everything about the home, as they’ll share important information you can’t always garner from an inspection. Sellers will also make the necessary repairs to the house before a contract is signed. However, it’s not easy to land an asking price as low as a similar property that is foreclosed.

If you’re interested in purchasing a foreclosure home, hire a qualified real estate broker with experience in this type of transaction. For help finding a property in Mountain Home, AR, contact the licensed experts at Gilbert Realty today by calling (870) 425-6282. They offer helpful resources and information about local properties. You can also visit their website to browse their listings of homes for sale. 

Other Announcements, Events and Deals from Gilbert Realty
What to Consider When Buying Real Estate After 60, Mountain Home, Arkansas
Buying a home is very different when you are over the age of 60 than it is at any other age. The real estate team at Gilbert Realty have helped many seniors find their dream homes in...read more
A Guide to Buying Real Estate at the Right Time, Mountain Home, Arkansas
Whether you’re buying a starter home or are a first-time real estate investor, it’s worth understanding the cyclical nature of the market and how to use it to your adv...read more
When Is the Best Time of Year to Sell Your Home?, Mountain Home, Arkansas
Putting your house on the market involves a series of important decisions. Do you need to make any repairs first? What’s the best listing price, and when should you advertise it...read more
3 Qualities to Look for in a Real Estate Agent, Mountain Home, Arkansas
The dynamic world of real estate can be heavily nuanced, difficult to navigate, and highly competitive. For these reasons, finding a knowledgeable, trustworthy, and highly quali...read more
3 Questions to Ask Your Real Estate Agent Before Selling Your Home, Mountain Home, Arkansas
When you want to sell your home, having an experienced real estate agent representing you is a smart move. Finding the right professional will save you time, anxiety, and money when ...read more