Does William Shatner make you laugh? Whether it's the cheesy Priceline commercials or an episode of "Boston Legal" there is something about him that I just find hysterical (in a funny... not a middle ages deadly.... way)
It's hard to say there is a "nice thing" about foreclosures... it's a sad business, working with people who are in such a bad place financially and sometimes even personally. That being said, for buyers, there can sometimes be some great deals to be had out there, especially when working with an agent who specializes in such properties.
A savvy buyer will get to "name his own price" on a property by making a bid, that in most cases it is in the sellers best interest to accept, no matter how low the price, subject to lender approval. (If the seller's lender accept's the bid, he/she is off the hook for the rest of the balance in most cases)
In my office... I have a full time short sale negotiator (like the priceline negotiator, but... not as funny... and better looking. In fact, cute enough that I would marry her in a heartbeat.... oh wait... I did marry her)
When these deals are properly negotiated, and when I effectively work with the agent conducting the BPO (or the appraiser in some cases) I have been able to help buyers get properties for over $100,000 UNDER the mortgage payoff, and easily $80,000 under what the buyer could immediately turn around and resell the property for.
This is not the case every time... but this year I have closed over 44 sides so far in Kenosha County alone... and most of them have been these type of real estate sales.
So... name YOUR OWN PRICE and get moving!
For more information on Foreclosures... visit my website at www.RalphNudi.com
Ralph D. Nudi