Are you a buyer looking to buy homes in the Portsmouth NH
area? Don’t be afraid of bank-owned
homes if you are!
properties do usually come with some issues that a home owned by a
home-owner might not necessarily have, but if you are working with an
experienced REALTOR who knows the area you’re looking to buy in, you can
find some great buys on bank-owned properties.
I just recently closed on a bank-owned home here in the New
Hampshire Seacoast, and the new owner got himself a great buy. The property had
been listed for $249,900, and then was reduced a couple more times until it got
down to $199,900. And of course, all kinds of buyers wanted to see it at that
If you were to walk in the front door of this home, you’d have no clue this
was a bank-owned home. It sits on a gorgeous lot, the home had
been nicely maintained inside and out – not at all the image conjured up by most
of us when it comes to bank-owned homes. At the peak of the market here in the
Portsmouth New Hampshire area, this lot couldn’t have been bought for that
asking price, never mind a lot that beautiful with a house on it!
I put it under agreement, we made it through the home inspections just fine,
and then the first buyers I was working with just got cold feet – first time
buyers and they just got scared. It was such an incredible buy that I got right
on the phone and began calling other potential buyers I had that this home would
be great for, including some investors I had talked to about investment
property. Yep, this home would have been an incredible buy for investors,