Waltham Foreclosures

Bank-Owned Properties

Waltham is a great place to live with plenty of properties to choose from that include bank-owned options. People looking for the best bargain when they buy a property are likely to consider these among their many other options. However, these real estate transactions are somewhat more involved than you might think.

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Of all the properties in the community, only 0.5 percent are delinquent on their mortgage, which is lower than the U.S. average. Because of this low delinquency rate and a $582,009 average listing price expected to rise further by early 2019, buyers who want to pursue this option will want to act as quickly as possible.

One of the biggest considerations you'll need to keep in mind is that it's very rare for a bank-owned property to have had necessary repairs made. Although you can have an inspection done during the purchasing process, you'll have the responsibility of taking care of the repairs yourself.

However, you shouldn't let this deter you from trying to buy an ideal property at a good price. The less you spend buying the property, the more you're going to have to spend on improvements that will increase the property's value and your equity.

Getting pre-approval before buying a bank-owned property helps, and is easiest when the pre-approval is from the lender. Before you proceed with buying any distressed property, making sure you have the assistance of an experienced buyer's agent. Contacting us is an easy way to get the assistance you need.

Short Sales

A short sale is a good way to enjoy a bargain on a property, but the process can be tricky in comparison to a traditional sale.

Sellers who list their property as a short sale may not have reached the point where the property is in default. However, they have gotten permission from their lender to sell the property for less than they owe on the mortgage when the market value is less than the remaining mortgage amount.

However, many sellers run into financial difficulties that give them concerns about their ability to keep paying their mortgage. Others are worried about the impact of carrying an underwater mortgage for too long and not being able to sell the property at a fair price later.

These situations are where being able to make an offer to buy the property as a short sale comes in handy. It's a winning situation all around because:

• The seller can sell the property without having to satisfy the full mortgage amount that remains
• The lender can receive a lesser amount and avoid the expenses of foreclosing if the seller does default
• You benefit from possibly being able to get a considerably lower price for the property

No matter how you want to use the property you've bought as part of a short sale, you'll benefit from having expert assistance throughout the process. Getting in touch with one of our agents will help ensure that everything goes smoothly.

Geographic Information

Waltham has been consistently regarded as one of the best places to live in Massachusetts. The location is on the Charles River, which is possibly one of the most famous landmarks in the area.

Boston is 10 miles away, and there is an MBTA station for much more convenient transit. Roads that run through town includes Routes 2 and 128, as well as the Massachusetts Turnpike.

About 60,000 people call this community home, making it one of the most populated suburbs in the area. Distinct neighborhoods in this community that you might see mentioned in listings include:

• Angleside
• Ellison Park
• Lakeview
• Rangeley Acres
• Banks Square
• Gardencrest
• The Lanes
• Ravenswood
• The Bleachery
• The Highlands
• The Island
• Northeast
• Robert's
• Piety Corner
• The North Side
• The South Side
• Cedarwood
• Kendal Green
• Warrendale
• West End
• The Chemistry
• Kendall Park
• Wildwood Acres

If you're interested in buying property in a location that has a lot to offer, this community has a lot to offer.

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