Are foreclosed homes really a great bargain in Shrewsbury MA?

foreclosureIn today’s market if you have a good credit score or have lots of cash available to you, you may be considering purchasing a foreclosed home. This can be a very good opportunity to make some money, but if you have ever tried to get information on a specific foreclosure you have probably found that the process is not so easy.

Make this process easier on yourself by choosing one neighborhood and sticking to it. Your agent can give you the neighborhood’s property values and take special care to make sure there are not too many foreclosures there. Make sure that there is potential for job growth down the line in this particular neighborhood. If the neighborhood is good, you’ll want to seriously consider the homes in it as a viable option, and the extra legwork will likely give monetary return.

You’ll want to drive the neighborhood and focus on finding a home that may need some work. Another way to learn about the property you are interested in is to have your agent get in contact with the local assessor’s office. They will be able to tell you the property owner’s name, the home’s tax information, it’s assessed value, it’s square footage and even what the current owner paid for the home.

Once you know what the seller wants, you are one step closer to being able to negotiate a deal. Your agent can make this whole process easier for you and the seller, as they will understand the complexities of this kind of transaction.