Tips for Buying Foreclosed Property

The current real estate market has increasd the opportunity for buyers like you to purchase bank owned property. Some buyers will see this as a once in a lifetime chance at picking up a home for significant savings. Below, we have provided you with our best tips for purchasing a deal without getting yourself in over your head.

Get All the Numbers - Be sure to see what the true cost of picking up a foreclosed property. While the List Price may look enticing, get a quote from a local contractor on what it would cost to bring the home up to current value.

See it - Make sure you personally tour the property. If you can use an agent that deals regularly in the purchase of foreclosed property all the better. Realtors must disclose any material defects in the property.

Who are the People in Your Neighborhood - Learn information about the neighborhood where the house is located and the values of those homes that have sold recently. You can improve the home but you can't change the neighbors.

Vacant - How long has the property been vacant. If you have a house that was vacant in the winter you may have busted water pipes or appliances that have gone bad.

Winterized - Has the property been properly winterized? This means all of the plumbing pipes have had the water removed and a type of anti-freeze liquid that is safe for home plumbing lines has been pumped into the pipes.

Landscaping - while the house may be dynamite the outside can add up if you are not careful to include this in your overall cost to repair the property.

Inspection - Always have an independent inspection of the property and have this written into the contract to protect you from buying a lemon.

If you are in St. Charles County or the St Louis Area feel free to contact us and we will guide you through the purchasing process of a foreclosure at no cost to you...call today at 636-229-8830.

The Newest List of Foreclosed Properties

$92,900

46 Cedar Grove , St Charles

Live in the well sought after Cedar Grove Condo development. This 2 bedroom, 2-1/2 bath will sell fast! Some features include: granite countertops & 2 pantries in kitchen...

Beds 2
Baths 3.0
Bldg. Cedar Groves 04

$130,000

11 Barkwood Trails , St Peters

Ranch property with over 1200 sq. Ft., huge master suite, living room with fireplace, large eat-in kitchen and partially finished lower level. Walk out from the kitchen ...

Beds 2
Baths 2.0

$210,000

10 Quail Run , Defiance

Enjoy a life of peace and privacy! From the moment you turn into the driveway you will fall in love with this beautiful home. It sits on 3+ acres, has 4 bedrooms, 2.5 bat...

Beds 4
Baths 3.0

$60,000

35 Park Charles , St Peters

Townhouse features 2 bedrooms, 1.5 baths, some carpeting, ceiling fan, fence in rear. Great location near Hwy 364, Page Extension, schools and shopping. Please note uti...

Beds 2
Baths 2.0
Bldg. Park Chas South Condos 04

$109,900

127 Maryland , O Fallon

Welcome home to your beautiful villa! Some features include: large great room with open floor plan; dining room/kitchen combo; 9ft. ceilings; walk-in closets, main floor ...

Beds 2
Baths 2.0
Bldg. Villas at Highgrove

$114,000

804 Whisper Creek , Wentzville

Darling 3 bedroom, 2 bath Ranch style home has a 2 car garage and full basement in Whisper Creek subdivision! The potential is endless here. Perfect for new home buyers t...

Beds 3
Baths 2.0

$76,900

907 South 4th , St Charles

Home is LARGER than it appears; 1600+ sq. ft.! Living room area has wood floors, exposed brick walls, & crown molding. Bedroom on upper level has full closet & storage ar...

Beds 2
Baths 1.0

$102,500

765 Peine , Wentzville

Look no further, this house has it all. Beautiful brick Ranch style home provides plenty of room for those family gatherings, plus it sits on a one acre lot and includes ...

Beds 2
Baths 3.0

$102,500

824 country field , Lake St Louis

This is a Fannie Mae Homepath property. Purchase this property for as little as 3% down. Approved for Home path Mortgage and Renovation Mortgage. 2 bdrm 2 bath townhous...

Beds 2
Baths 4.0
Bldg. Countryshire 05

$55,000

1619 Claydell , St Peters

Cute 1 bedroom, 1 bath home with vaulted ceilings and fireplace. Single level living with laundry room, 1 car attached garage and sliding glass doors to fenced patio are...

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