Oakland County MI Short Sales and Foreclosures: How to Find Your Dream Home

Posted in Oakland County MI short sales by Michigan Real Estate Expert on April 15th, 2011

No doubt you’ve heard about the rising number of Oakland County MI short sales and foreclosures.  If you’re thinking that now would be a good time to jump on the bandwagon by purchasing one of the Oakland County MI short sales or foreclosures, here are a few tips to help you find (and buy) your dream home.

Lee Morof is a Certified Distressed Property Expert in Oakland County Michigan Lee Morof is a Oakland County Michigan

Certified Distressed Property Expert

Arrange for Financing
Know how much home you can afford so you can determine your price range.  You don’t want to waste any time looking at property that won’t fit your financial needs.  If you do, you might even miss the deal you’re looking for.  Many lenders will pre-qualify you.  The process doesn’t take long and you’ll be able to look at Oakland County MI short sales and foreclosures with confidence.

Get a List of Available Properties
Your number one best resource for Oakland County MI short sales is your real estate agent who is able to guide you to the properties that best fit your needs as well as show you the properties.  Your local bank should be able to give you a list of homes that have been foreclosed on.

Research Your Favorites
Narrow down the list to your favorite properties.  Then, investigate the homes and the areas they’re in because the neighborhood has an impact on the value.  In addition, carefully assess the properties for damage and calculate the cost of the repairs.  After you’ve done the math, pick the house that suits your needs.  If you don’t want to do all the assessments and make all these decisions on your own, work with a professional southeast Michigan real estate agent who can guide you through this process.

It’s Time to Make a Bid
Okay, you’ve found the property you want to buy.  What should you do now?  It’s time to put in a bid on the property.  If you aren’t comfortable negotiating (or if you aren’t good at it), let your real estate agent place your bid and negotiate the deal for you. If you need to move quickly, be aware it will probably take longer to close on a short sale property.

Ready to get a great deal on one of the Oakland County MI short sales or foreclosures?  I am a Certified Distressed Property Expert and I can help!  Call me today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

Lee Morof sells North Woodward Homes in Oakland County Michigan RE/MAX Showcase Homes

Lee Morof
Associate Broker/Attorney
Certified Distressed Property Expert

RE/MAX Showcase Homes
Birmingham, Michigan
Call:  248-514-2640

1 Comment »

  1. Answers to Your Questions about Purchasing Royal Oak Michigan Homes for Sale Now said,

    June 20, 2011 @ 7:04 am

    […] deal? A: Not really.  Although there are good deals to be found, the time and effort involved in purchasing short sales and foreclosures can be a huge negative.  Negotiating with a homeowner can be much easier than trying to negotiate […]

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