Buying a Bank-Owned Home in Maple Valley

Sometimes Bank-owned properties (or those which have gone through foreclosure and are now owned and available for sale by the Bank/Lender/Asset Management Co) are a “good deal” and sometimes they aren’t. Here are a few tips if you’re looking at Bank-owned properties in our local market:

• If you’re looking to purchase a bank-owned property in Maple Valley, enlist the help of a professional who knows this  market , can help you determine whether the deal you think you’re getting is really as good as you think.
• An experienced professional can also help you navigate the Bank-owned purchase process. These companies will often have their own forms and “quirky” requirements. Make sure you understand all the implications before signing on the dotted line
• Do your due-diligence, talk with the neighbors, find out about all “the skeletons“, if any,  before you buy. Sometimes the bank will have conducted an inspection of the property but there are things even an inspector cannot find….for instance flooding in the back yard, past leaks or plumbing problems now undetectable. 
• Hire your own inspector! Even if he/she finds nothing, it will be money well spent on future peace of mind.

Copyright 2008, All Rights Reserved Colleen Fischesser