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Eagle Mountain Bank Foreclosure

How to Buy a Eagle Mountain Bank Foreclosure

Information on how to buy Eagle Mountain Bank Foreclosure. Before making an offer on a bank repo, have one of the agents at Team Teasdale Realty contact the the listing agent and ask the following:

Are there any inspection reports?

What repairs have the bank agreed to do?

Is there a special "as is" form?

How long does it take the bank to accept an offer?
(Some banks take upto 72 hours to give you an answer and several more offers may arrive)

How does your agent deliver the offer?
(Some offers are submitted online and the listing agent never even talks directly to the REO sales representative of the bank)

Offers are usually emailed to the bank. The listing agent sometimes needs your originals. There is no formal presentation. Keep in mind: nothing happens evenings and weekends (banks are closed). Any real estate relating to a bank owned property happen during business hours.

Since there is no face-to-face presentation to the bank, provide the listing agent with a pre-qualification or better yet, a pre-approval letter. Make your offer easy to accept. Find out how many offers are on the home. Paul Teasdale has sold hundreds of bank foreclosed properties in Utah County. Paulhas many ideas and strategies of how to get the bank to accept his clients offer when multiple offers come on a Eagle Mountain Utah home.

List of Bank Foreclosures in Eagle Mountain Utah

buy a Eagle Mountain utah bank foreclosure

Moving to Eagle Mountain, Utah: What a Great Idea!

There are many reasons why people are moving to Eagle Mountain, Utah.  Some transfer location because of work and some because of an event that had occurred in their life. Others may just want to try a new and better location while others transfer because of better opportunities offered by the new location. Some move from out of state to be in a LDS community. Demographically Eagle Mountain and Utah County has a high population of members of the Church of Jesus Christ of Latter-Day Saints.

Some transfers are so sudden; leaving more tension and confusion that may eventually lead to a poor decision. Moving to Eagle Mountain, Utah requires much preparation.  Most will actually receive advice from friends and relatives on how to cope and find a new home.  Sometimes, the people giving advice only intensify the burden of moving to Eagle Mountain, Utah.

Before Moving To Eagle Mountain Utah

Moving to another city requires an intensive planning.  This may start from listing all the things that you have to do and their time frame.  In doing so, you will be assured that you will carry out things on time and nothing is missed out. Make a list and cross each item out one at a time. Basically, get really organized.

Seek Help from Realtors in Eagle Mountain Utah

Moving to Eagle Mountain, Utah can be a big task and it would be wise if you seek help on matters that pose problems as you execute your plan.  One of the best ways to do this is to seek a Eagle Mountain Utah Realtor who could give you facts about the different neighborhoods and schools within the city.  There are many Realtors around Eagle Mountain but you have to look for someone who is trusted in the area.

What is a Eagle Mountain Utah Bank Foreclosure?

The bank now owns the property and the mortgage loan no longer exists. The bank will handle the eviction, if necessary, and may do some repairs. Fannie Mae and Freddie Mac will often repaint and recarpet homes in Eagle Mountain prior to selling them. Fannie Mae and Freddie Mac would just put the homes on the market and sell them as-is. However, it seems they realize they can get more money by making the home look cleaner and doing some repairs.

A bank will negotiate with the IRS for removal of tax liens and pay off any homeowner’s association dues. As a purchaser of an REO property, the buyer will receive a title insurance policy and the opportunity to investigate the property. A Eagle Mountain Utah bank foreclosure will be sold with a clean title.

A bank owned property might not be a great bargain. Do your homework before making an offer. Have one of the Realtors with Team Teasdale Realty do a comparative market analysis. They will help you determine if the Eagle Mountain home is a good deal or not.

Make sure that the price you pay is comparable to other Eagle Mountain homes in the neighborhood. Consider the costs of renovation, including time to complete them. Don’t get caught up in a ‘bidding war’ and pay over market value. It’s an old myth that “foreclosures” are a bargain. You can get a good deal but it takes knowledge and experience to make this happen. Be sure to hire Team Teasdale Realty to represent you when you are ready to buy aa Eagle Mountain Utah bank foreclosure.

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