Homes For Sale Foreclosures In Omaha
important procedures to understand and follow when buying homes for sale that are
foreclosures. In buying homes for sale that are
foreclosures in Omaha or anywhere else, owner occupants have a distinct
advantage over investors. Most foreclosed properties, unless sold
directly by the mortgage companies require that owner occupants be
given a two week exclusive period to make offers to buy the foreclosed
homes for sale. Once the exclusive period ends the foreclosed homes are
free game. The rational behind this policy is that given the
opportunity, investors would crowd out the owner occupants. It is
believed that owner occupants are better for the neighborhood. Another
factor I'm sure is that investors tend to pay less for the foreclosures
they buy. Fannie, Freddie, HUD and VA all have waiting periods.
Bids are accumulated and reviewed at predetermined intervals.
This allows the lender to collect competing offers and select the one
that they feel is best. Banks can adopt any process they choose as the
REOs (Real Estate Owned) belongs to them, but the other agencies have
to follow strict procedures. The demand for foreclosure homes is very
high. It is recommended that interested parties look at the homes for
sale as soon as possible and submit offers promptly. Visit our Buyers
section for value added programs and information on investing in real
Discount commissions for sellers.
Cash rebates for buyers.