Discover Charlotte Foreclosures

Charlotte Foreclosures continue to sell quickly and are a great deal! Many of the foreclosure sales are multiple offers and the closing prices range from 90% of list price to 105% of list price (reaffirmed this for the week of 4/14 through 4/21). The average is between 97 to 98% of list price.

All home buyers are looking for a good deal and Charlotte Foreclosures top the list! I share this data so you realistically know what response you are going to hear from the lender on bank owned homes. Everyone hears that cash is king and this is very true. Lenders realize that a cash deal closes more predictably than a home requiring a loan. I have seen banks accept an offer that is several thousand less (about $5,000) than otter offers for cash.

Understand it is strictly a financial decision from the banks perspective. Why should a bank accept $50,000 less? Let's say the monthly payment (monthly loss the bank is losing by holding up their money) is $1500. With Charlotte Foreclosures, the bank is not willing to accept almost 3 years of lost revenue by a quicker close. It is strictly numbers. The lenders know, based on foreclosure history in our real estate market, the time expected before the foreclosure will see. It is no where near 3 years. The vast majority (90%) were on the market less than 2 months.

When considering Charlotte Foreclosures, realize a good deal when you see one! What is the market value of a home, in today's market, in that neighborhood? Are you getting as good deal? It is really that simple. Too many people focus on the list price and not the actual market value. A wise buyer recognizes a great deal and knows when to react.

Call me, Rick Waite @ 704.770.6559 or email @ rjwaite1@gmail.com today for information on foreclosures and help with the process. Search Charlotte foreclosures and foreclosures in our suburbs today! It is time to get a great deal!

Increase in Charlotte Lease Purchase Agreements

I have experienced a rise in Lease Purchase agreements here in Charlotte. I have found a wide variety of reasons for a lease purchase. So who is a candidate for a lease purchase seller? A local lease purchase seller must meet tight qualifications for the next mortgage. You must be able to comfortably afford both mortgages before you will qualify for the next home. If you are relocating, check with a local lender. A lease purchase may be an ideal option. Who does this help? A Lease Purchase buyer is a person that can not get financing at this time but will be able to in a year. many self employed business people are in this situation since the lending rules have changed and their past credit history now must also be supported by reported income. Most private business people reinvest their profits into their business and not take it as income. They must now change their business plan and take out proceeds of their business as income. This takes time to establish income. Another case is if you had late mortgage payments as a result of the economy over the past two years. You now have a new job and your income has returned. Your late payments must be seasoned before a new mortgage can be issues. Ultimately, there are many people that have fallen on financial hardship over the past couple of years. The reason for relocating is to bring your financial health back where it belongs. A lease purchase is a great option; you and your family are back in your own home and provides time to correct credit blemishes. Visit Charlotte Real Estate to learn more about your next home!