Some of the best deals are foreclosure homes or "REO" properties. REO means a home owned by the bank.
Buying a foreclosure home is not for the faint of heart but there are some incredible deals. If you are looking for a home on the Monterey Peninsula the largest quantity of homes are in Seaside, California, though there are usually a few foreclosures in the other towns also.
Look at out "Affordable Homes" section for a link to some of the most reasonably priced homes in Seaside - under $350,000. Most of these homes sold in the rnage of $550,000 to $650,000 just a few years ago.
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- Obtain a list of foreclosure homes (You can call or email me for this)
- Get preapproval letter from your lender.
- Preview homes in your price range
- Make offer
- Obtain Termite Report
- Obtain Home Inspection
- Obtain Appraisal
- Check everything possible as you are buying the home "as is" from the bank.
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