Working with Buyers-Bank Owned Real Estate

This is another Bank Owned story....after all, when someone wants a deal; this is often where you find them. I have a client who is talented in renovating houses, so buying a bank owned home or pre-foreclosure that has not been well cared for was the best option. This client was not from the Indy area and needed me to help him find the best resale location, best bones of a house and best price. The client wanted to spend around $150,000 but be in a neighborhood that could support a much higher price. I knew Carmel was probably the best area for that type of scenario, Fishers Real Estate probably was too far from his work place. We found a great "villa" type home with stucco and a turret in Carmel; I loved it for its uniqueness and he loved it for the awful condition it was inside. The home is located within a stone's throw of Keystone and 465 so great for moving around the city. We made a bid and of course, were immediately thrown into a "best and final bid" due to multiple offers. I advised my client on where he should bid and we got the home; it was NOT at list price. We proceeded through inspection and whoa....there was a lot on it even for a bankowned. We negotiated a fair repair allowance; about 10% of the cost of the home. My client was happy with the location, the bones of the home, and now the price.
We help all types of clients, whether you are a move up buyer wanting a pristine home on the water, a first time home buyer that wants someone to take the time to explain the process, an investor that want a deal on a home or someone who wants to downsize to a low maintenance community. Our team knows you and has worked with someone just like you and had a smooth and successful transaction. We look forward to meeting you soon.