[CITY] Real Estate News

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$333,000.00
129 Milltown Road

Bridgewater, NJ 08807



Beds: 3 Rooms: 7
Full Baths: 1 Sq. Ft.: 0
Garage: 1 Built: 9999
 

It's a life style! Are you ready?
This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google? Earth satellite
images, and much more.
 

If you have any questions
about this property or
require more information,
please feel free to call.

Eric Lange
GOLDEN HOME REALTY LLC
9083939111
www.goldenhomerealty.com



 
  Visit this listing here
Posted in:General
Posted by Eric Lange on April 4th, 2013 1:08 PM

Brought to by Golden Home Realty LLC

What is an REO?

"REO" is an abbreviation for Real Estate Owned. These are homes which have been through foreclosure that the bank or mortgage company now holds. This is different than a property up for foreclosure auction. GOLDEN HOME REALTY LLC has experience to share with foreclosures and bank owned properties in Bridgewater, New Jersey

If you buy a property during a foreclosure sale, you must pay at least the loan balance plus any interest and other fees accrued during the foreclosure process. The buyer must also be willing to pay with cash in hand. And on top of all that, you'll accept the property entirely as is. That might consist of existing liens and even current residents that may require removal. 

A bank-owned property, on the other hand, is a much cleaner and attractive proposition. The REO property did not find a buyer during foreclosure auction. Now the lender owns it. The bank will handle the removal of tax liens, evict occupants if needed and generally arrange for the issuance of a title insurance policy to the buyer at closing. 

Do be aware that REOs may be exempt from standard disclosure requirements. For example, in North Carolina, it is optional for foreclosures to have a Property Disclosure Statement, a document that normally requires sellers to disclose any defects of which they are knowledgeable. By hiring GOLDEN HOME REALTY LLC, you can rest assured knowing all parties are fulfilling New Jersey state disclosure requirements.

Am I guaranteed a bargain when purchasing a bank owned property?It's occasionally believed that any foreclosure must be a steal and a chance for easy money. This frequently isn't true. You have to be very careful about buying a repossession if your intent is make money. While it's true that the bank is often anxious to sell it promptly, they are also motivated to get as much as they can for it. 

GOLDEN HOME REALTY LLC has experience to share with foreclosures and bank owned properties in Bridgewater, New JerseyWhen pondering what to pay for a foreclosure, carefully analyze comparable sales in the neighborhood and be sure to take into account the time and cost of any repairs or remodeling needed to prepare the house for resale. There are bargains with potential to make money, and many people do very well buying foreclosures. But there are also many REOs that are not good buys and may not be money makers.

Ready to make an offer?

Most banks have staff dedicated to REO that you'll work with while buying REO property from them. Normally the REO department will use a listing agent to get their REO properties listed on the local MLS. 

Prior to making your offer, you'll want to contact either the your agent or REO department at the bank and discover as much as you can about what they know about the condition of the property and what their process is for getting offers. Since banks usually sell REO properties "as is", it's often prudent to include an inspection contingency in your offer that gives you time to check for unknown damage and terminate the offer if you find it. If, as a buyer, you can provide documentation showing your ability to secure financing, such as a pre-approval letter from a lender, your offer will be more attractive and likely be accepted. (This goes for any real estate offer.) 

After you've submitted your offer, you can expect the bank to make a counter offer. From there it will be your decision whether to accept their counter, or submit another counter offer. Your deal might be final in a single day, but that's rare. Since offers and counter offers usually give the other party a day or longer to respond (and employees at a bank don't work nights or weekends) you could be looking at a week or longer.

I hope this information has been insightful and realize that every real estate transaction is different, unique so working through the process I would have to say having a professional Real Estate agent who has expierence in these types of transactions is crucial to it's success. We have closed multiple foreclosures this year in Hunterdon County and working through short sales in Somerset County. If interested in purchasing one of these properties or to search for them please use are free search engine strickly for forclosures although we think you will find our home search and organizer very useful providing greater detail and allowing you to save searches and set up for automatic new listings that match your criteria as new properties come to market as often as you like free with no obligation. This site and it's tools are here to guide and help you make the right move.

Currently, there are some unbelievable opportunities for new home owners and we are very exciting moving forward into 2012 and we are here to serve your realty needs.

Merry Christmas and Best Wishes in the New Year.

We hope to hear from you soon. Visit us on the web at

                     goldenhomerealty.com 

 

Kind Regards,

Golden Home Realty LLC.. Eric Lange Broker Owner REOS Specialist

Office 908-393-9111 Fax 1-888-391-2480

Email:Eric@goldenhomerealty.com                          

 


Posted in:General
Posted by Eric Lange on December 17th, 2011 12:10 PM
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Listings Photo
$225,000.00
234 Main Street

Flemington, NJ 08822



Beds: 0 Rooms: 0
Full Baths: 0 Sq. Ft.: 0
Garage: 0 Built: 0
 

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.
 

If you have any questions
about this property or
require more information,
please feel free to call.

Eric Lange
GOLDEN HOME REALTY LLC
9083939111
www.goldenhomerealty.com



 
  Visit this listing here
Posted in:General
Posted by Eric Lange on November 13th, 2011 5:20 AM
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Listings Photo
$449,900.00
4 Horseshoe Road

Whitehouse Station, NJ 08889



Beds: 4 Rooms: 10
Full Baths: 2 Sq. Ft.: 0
Garage: 2 Built: 1974
 

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.
 

If you have any questions
about this property or
require more information,
please feel free to call.

Eric Lange
GOLDEN HOME REALTY LLC
9083939111
www.goldenhomerealty.com



 
  Visit this listing here
Posted in:General
Posted by Eric Lange on September 10th, 2011 9:39 AM