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Look No Further Cheap Houses Are Easier To Find Than You Think
Dated: September 6 2017
Are you looking for cheap housing but you want to own? Here are a few ways to get cheap houses.
Cheap houses are everywhere. The hard part is finding them.
The dream of home ownership is attainable for almost anyone if you know where to find cheap houses. Imagine owning your own property for less of a monthly payment than your current rent. Don't think it's possible?
Using a few simple strategies you can start your own America Dream. Here are 3 simple ways to find cheap houses that you can't wait to live in.
Find Price Reduced Homes
Homeowners are typically quite prideful in their slice of the pie. It can be hard to let go of their home. Because of this, many owners over-price them when listing.
When a home is priced too high it gets little interest from buyers and can sit on the market for months. The homeowner may then start to panic and drop the price, knowing that a properly priced house typically sells within 10 to 21 days.
Many people think that when they see a reduced price home there must be something wrong with it. Most of the time this isn't the case.
So how do you take advantage of a reduced price home? Now that you know the seller is willing to lower their price, send them an offer that is even lower than the reduced price.
A good rule of thumb is that you don't blush when making the offer, you're offering too much.
Many cheap houses have been bought this way and yours could be too.
Foreclosed Houses Can Be Cheap Houses
When a homeowner stops making payments and the bank takes the home back, they are stuck with it on their books.
As such, banks want to unload these houses as quickly as possible. That's where you can take advantage with a low offer.
A few factors to consider when putting an offer in on a foreclosed home are:
What is the home's condition?
How much repair work needs to be done?
How much will it cost to get a full inspection?
In addition, many people who get foreclosed on leave a lot of junk behind. How much time, effort and money will it take to clean everything up?
On a positive note, the value of the home can skyrocket once everything is cleaned up and cosmetic repairs are made. Just know what you're getting into before you put an offer in.
A top Omaha realtor is a valuable resource in helping you understand all the angles.
Inherited or Vacant Houses
Drive around your town and notice how many houses you see that aren't occupied. These can be very cheap houses to buy.
Remember that a vacant house is still racking up bills every month, and somebody is paying them. Often that is motivation for them to off-load the house at a cheap price.
Inherited houses are the same. Most of the time the person who inherited the house has no interest in renting it out, and wants cash. Extreme lowball offers work better in this situation than in an occupied house.
Give it a try!
Finding the perfect home for you can be done with some research on cheap houses in your area.
Make sure to do your homework on each property and make a lot of offers. After all, it only takes one to become your personal American Dream.
Get in touch and we'll help make your dream a reality!
I am the team leader for The Prime Team with Keller Williams Realty and have been a Realtor since 2011. Real estate is my passion, whether it is helping people buy, sell, build, or invest. It doesn't ....