If you are looking for a true deal when it comes to Malibu real estate and aren’t in too much of a hurry, then you might want to consider looking at Malibu foreclosures.
Although it is more involved than simply browsing through regularly listed properties, there are some top-tier real estate Malibu foreclosures going for bargain-bin prices for those who have the patience to look for them.
Low prices aside, there are a lot of benefits to buying a foreclosed or short sale property. Oftentimes you have a lot more room to negotiate and maneuver when it comes to your property. This is especially true if you are willing to pay in cash, and have the time to wait for that perfect property, you can essentially name your price.
It can be a little nerve-wracking while you wait for your property, but with your broker’s help and some sturdy nerves, you can get a true steal.
Some tips to keep in mind when buying Malibu foreclosures:
- Work with a real estate agent who specializes in Malibu foreclosures
- Get pre-approved for a mortgage
- Study home prices in the area before you buy
- Most times price is non-negotiable
- The seller may require a pre-approval letter from your lender
- Realize what you buy is what you get–as is
A benefit to buying Malibu foreclosures is that the process is faster than the typical buying process. In addition, most times foreclosed properties are empty, and you can move in right away.
If this sounds like a route you might want to take, then your real estate broker should be able to provide you with a list of foreclosed properties.
Although it does take a little more time and effort to sort through lists of properties, when you find that perfect property for a steal, it’s totally worth it.
