One of our specialties at Fidelity Realty Group is listing bank owned/forclosures.  We work with several major companies and lenders.  Here are several tips to buying these types of properties:

 

1.  Don't believe everything you see and hear on television!  Remember, those programs about buying and selling  houses are for enterainment purposes!  You may be able to buy houses for fifty cents on a dollar in some states, but not here in OK.

 

2.  Buying bank owned properties is not for everyone.  Most bank owned properties need anywhere from a little to a whole lot of work!  If you are prepared to do a little work and invest some money then buying a bank owned property may be for you. However, do your homework on how much you will have to put into the property and how much it will be work afterwards. 

 

3.  Get an inspection!  Most bank owned properties are sold, "as is."  However, it is your right and responsibility to get inspections.  Hire a licensed home inspector, or an electrician, plumber and structural inspector to inspect the house.  It may save you a lot of heartaches down the line!

 

4.  Use a Realtor who understands bank owned properties like Fidelity Realty Group!  For the same reason you would not go to a MD to have your teeth cleaned, go to a Realtor who specializes in bank owned properties.  Call us and we will walk you through the process.  Remember, we can show you any house on MLS.