The Bank of America Countrywide foreclosure list is an valuable tool for buyers and real estate investors that want to buy reduced priced property. For years, Countrywide was heavily involved in providing mortgage notes. In 2008, the company was nearly destroyed by the foreclosure melt-down and was purchased by Bank of America.
Today, the Bank of America Countrywide foreclosure list is under management of Bank of America. Realty include a mix of bank foreclosure homes, vacant land, and commercial real estate. Interested buyers can search homes for sale at the Bank of America Real Estate Center website.
Many of the foreclosure properties provided on the Countrywide foreclosure list are priced below market value. A large percentage are in need of repairs that can range from minor work to complete renovations. Mortgage companies hardly ever invest money into bank owned homes unless it makes the realty more marketable.
Before getting started with house hunting, it can be advantageous to become educated about HUDs Neighborhood Stabilization Program. NSP grants are available in all 50 states to home buyers and real estate investors that invest in houses in areas with high incidences of foreclosure.
Funds can be utilized as earnest money or for repairs,home improvements, or restoration. NSP home buying grants are offered to individuals and private investors purchasing qualified realty. Combining NSP grants with Bank of America bank owned real estate can yield considerable savings.
Licensed real estate agents handle home showings and real estate contracts for houses presented via the Bank of America real estate center website. It is not uncommon for multiple buyers to present purchase offers on the same property, which can increase the price. Since home prices are already reduced, lenders rarely consider offers for less than the asking price.
Buyers that need a bank mortgage will have to get approved for financing before presenting purchase offers on Bank of America foreclosure properties. Upon finding real estate, it is crucial to perform due diligence before loan settlement. Hire a property inspector and real estate appraiser and obtain repair cost estimates to figure out the true cost of buying the property.
Bank owned homes can be perfect for real estate investors. This kind of realty can be used for flipping houses, rental houses, or sold using lease purchase option agreements or seller carry back trust deeds.
Making use of the Countrywide foreclosure list can be a good approach to locating the kind of property that suits your needs. Bank foreclosure listings can help investors and buyers locate reasonably priced residential and commercial real estate, as well as vacant land and foreclosed businesses.
Learn how to make the most of the Countrywide Bank of America foreclosure list from real estate investor, Simon Volkov. Simon discusses ways to profit from bank owned foreclosures as investment property SimonVolkov.com.