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Weston Foreclosures

Geographic Location

Twelve miles west of Boston is the city of Weston Massachusetts. It is nestled on an upland plateau and encompasses approximately 17 square miles. The town was settled in 1642 and has grown to a population of around 11,389 people. The community is bordered by Lincoln, Waltham, Newton, Wellesley, Natick, and Wayland. The countryside environment presents commuters with easy access to Boston via the many highways available to travel. These roadways such as I-95, I-90, U.S. Route 20, and the Massachusetts Turnpike. Resting on the perimeter of Boston the city is considered part of the metro west area.

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Bank Owned Properties

A bank owned property is one that has been through the repossession process. An auction is usually preformed for the estate and does sell. These homes are sold in a as is condition some needing maintenance and repair. People looking for these types of houses have many avenues to research such as online websites, the local real estate agent, and mortgage companies or banks. Buyers that want to purchase one of the dwellings will want to contact an agent to help them with the process. It is also worthwhile to generate and refine a list of priorities that the purchaser requires. Consumers will want to perform a home appraisal process to discover any problems or concerns that will need to be addressed such as repairs. The best time to purchase the property is after all the research, appraisals, and inspections have been completed and passed. During this process any hidden fees or liens will be uncovered so that they can be paid prior to buying the home. It is also advisable to wait until the financial institution is willing to negotiate. The buyers also need to weigh all the positives and negatives of the home to guarantee that they are receiving a good deal. Investors will find a good money-making opportunity via buying at a low price and fixing up the home to rent and generate a steady flow of income. These estates are also a perfect opening for those interested in fixing up and selling the house at a profit. This is also an ideal way to purchase a home through non-traditional financing instead of a mortgage.

Examples of the Potential Cost of Bank Owned Property

Short Sales/Pre-foreclosure Properties

A short sale home is one that is facing repossession and in turn is listed at a below market value. The current home owner is trying to sell the estate before it is taken back and therefore is motivated to accept offers. The home also has a longer approval time since the current lending company must accept the offer as well. The sell is ideal for those that can wait for the endorsement. It is also ideal for those that have found their dream home and want to purchase via a mortgage. Due to the lower cost of the dwelling first time home buyers are also at an advantage. There are many types of funding available to those wanting to purchase a short sale home. Cash is one method that can be used to acquire the property. Another is through private loans that have a shorter life span that typical home loans. A blanket loan is another option for those looking to invest in multiple properties. These homes can be located in an assortment of techniques. The multi listing service is one such technique, this listing shows homes for short sale. The federal programs of Fannie Mae and HUD is another avenue that can be researched. A good source of data are banks and lenders which can provide a list of homes that are potential accessible. The best time to purchase one of these homes is after all the research has been completed and after a tile search to uncover any liens that may be due. These developments have less competition making any time a good time to make an offer.

Examples of the Potential Costs of Short Sale Properties

Reasons to Choose Weston

The quiet neighborhoods of this town create a great place to raise a family. It has a distinguished school system to provide a good education. There are many activities that can be enjoyed either single or with a family. These include hiking trails, horseback riding, cross country skiing, and golf courses. The family friendly environment makes this the city where you want to raise your children.

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