4 Reasons to Look at Bank Owned Homes for Sale in Marysville
March 8, 2017
You can often find a great deal on bank owned homes for sale in Marysville if you know where to look. There are some things to know beforehand, however, to ensure that you realize how the property came to be for sale in this manner.
Prior to being foreclosed, the homeowner has defaulted on the mortgage but can pay what they owe and keep the house. If they are unable to meet this demand, the property is put up for auction. The bank forecloses and sells for the highest bid. If the house does not sell at auction, it becomes a bank owned or real estate owned property.
There are 4 distinct advantages to this type of property for sale:
- Other than working with your realtor, you deal only with the bank and not the previous homeowner.
- Usually, a bank will waive any unpaid real estate taxes on the property. Be sure to complete title search just to be certain.
- You are welcome to inspect the property prior to signing a contract. This is not an option for a foreclosed sale. There is often some work involved in bringing the home up to date.
- Bank owned properties typically sell for less than market value but know that they are not usually move-in ready.
An experienced realtor can be invaluable in navigating the process of locating and purchasing bank owned homes for sale in Marysville. Call New House Match at (425)268-0347 to schedule a meeting with a home sales professional. We can help you find a home that you will be proud to own.