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Topsfield Foreclosures

Considering a foreclosure as either a personal home or investment is always a smart choice for price-conscious buyers. Many people consider move-in ready homes their best option, but some of the deals possible with foreclosed or bank-owned homes are worth the effort.

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Once you've paid for any repairs or renovations, you'll still have spent less than you would have if you'd purchased the property at market value. Once you've started occupying the home, you'll find that the equity will increase, with average prices expected to increase 3.9 percent over the past year from the $409,787 average of early 2018.

Buying a home below market value to flip or rent out will save you money and allow you to possibly return a nice profit. With most of the homes that sold in 2017 averaging $372,000, you have a good chance of putting the home on the market and getting a decent offer when a motivated buyer comes along.

Although you'll possibly be buying a bank-owned property from a smaller town without a large number of neighborhoods, you might still want to learn more about the area around the property you're interested in buying. Even though homes that have been foreclosed show up in all kinds of neighborhoods, you will probably want to avoid buying in an area with multiple distressed properties, which could affect the value.

Knowing a little bit about the area the property is in could also prove helpful for marketing investment properties. Some of the things you could highlight with this information include:

Because the market for bank-owned properties is one that is not easy to predict, acting sooner instead of later is better to give you the chance of finding the ideal property. You don't want to let an opportunity like this go by if you can avoid it.

Our real estate experts are experienced in facilitating all sales transactions, including buying bank-owned homes.

Short Sales

A short sale is a special type of transaction that is distinct from a foreclosure. The short definition is that it is a sale that takes place when the amount of homeowner owes on the property's mortgage amounts to less than the home's market value.

The seller may or may not be facing having the home foreclosed, and they might not necessarily be having trouble making payments. However, sellers that choose this option usually have few viable alternatives, and this presents a possible opportunity for buyers looking for a good deal.

If you're thinking of making an offer on a short sale property, getting pre-approval from a lender first might be a good way to motivate the seller to give your offer serious consideration. Alternately, you should consider the possibility of paying cash for the property.

Before you take steps to buy the property, make sure you have accurate information to work with to help avoid any problems. These sales are often more complicated than you might realize, and can be a drawn-out process lasting several months. Because of the complexity of these sales, you want to make sure you have an expert on your side who knows how the process works.

Our real estate experts know the Massachusetts laws regarding short sales and other real estate transactions very well. We can not only give you valuable advice and help answer questions but also make sure the sale works out as you expect.

Geographic Information

One of the best things about the town of Topsfield is its location 22 miles from Boston and ten miles from Salem. MBTA rail service makes getting around the area easy. Routes I-95, U.S. 1, and Massachusetts 97 also run through town.

The town has some interesting geographical features, with Great Hill and its elevation of 245 feet standing out. Some of the local features that stand out include:

With a population of a little over 6,000, buyers will be able to enjoy the unique experience of small-town life.

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