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Whitman Foreclosures

Geographic Location

The cozy dairy farming community of Whitman Massachusetts was settled in 1670. Contained within Plymouth County is boast a population of roughly 14,489 residents. The 7.1 square miles is bordered by Abington, Rockland, Hanson, East Bridgewater, and Brockton. A mere 20 miles south of Boston, makes this a perfect place for commuters creating the residential atmosphere that encircles the town. There are two meadows the Hobart Meadow and Bear Meadow both add to the feeling of openness to the environment. A home-grown sentiment can be felt in the atmosphere of the place where the chocolate chip cookie was conceived.

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Bank Owned Properties

A bank owned property is one that has been through the foreclosure process and been retained by the lending institution. It has gone through auction and did not sell so the bank kept and is selling the home. The property is usually vacant, and some may be needing repairs. Most titles will be clear. There are several types of funding available such as non-traditional and personal or home loans. Buyers that have cash at hand also have access to the lower cost homes. People that would benefit from the purchase of a bank owned property are those that want their dream home at a below market value without the hefty mortgage payments. Investors who want to purchase and fix to sell for a profit. It is also benefit to those that can fix it and rent it out since the cost of the home will be offset by the monthly income generated. To locate a bank owned property many avenues are offered. Consumers can contact the local banks and lenders to attain a list of homes accessible. The search for a home can also be accomplished through the use of online websites that specialize in bank owned properties. Another possibility is a REO agent that can provide a list of homes in the preferred area. The purchaser will want to do research on the area and explore their specific on homes before purchasing. Once the research is done and the perfect place is located a bid will need to be turned in on the estate. The consumer should ensure that they are receiving a good deal.

Examples of the Potential Cost of Bank Owned Property

Short Sales/Pre-Foreclosure Properties

A short sale property is one being sold for less than market value. It is typically the last chance for the current home owner to avoid reclamation of the home. These homes normally still have the owner living in the dwelling. This type of sell usually can take anywhere from weeks up to a year to close due requiring the approval of the current lender. Buyers that will find benefit from a short sale are first-time home buyers that want a lower monthly mortgage payment and single adults who are looking to start a family and want to have a place to grow and call home. Families can also benefit from this due to the lower cost of the home which in turn leads to lower mortgage or loans payments. Financing for a short sale can be accomplished in a variety of ways. One way is through a private loan eliminating the need for a bank or lender to provide the funds. Cash is another method of purchasing the home, with the lower cost of the home some may find that a cash purchase is valuable. An alternative means is through the bank or lender with a home loan and mortgage payments. A newspaper can help seekers to locate a short sale home and provide needed information to contact the current owner or lender. Purchasers can approach and request a listing of available properties from the local real estate agent. Online websites dedicated to short sale homes also show beneficial data on homes in the area. The consumer will want to preform a title search, inspection, and appraisal process to safeguard that they are obtaining a respectable transaction. After all research is completed it is then a good time to start the purchase process. A settlement statement will need to be completed during the purchasing process, at this time the buyer will want to make all expectations known.

Examples of the Potential Cost of Short Sale Properties

Reasons to Choose Whitman

A serene city with lots of activities to offer residents and a great place to raise a family. Parents can feel a sense of wellbeing and confidence sending their children to the area schools knowing that they are receiving an appropriate education. Commuters can let others do the driving with the trains to the city making commuting easy. Art and culture surround the town with architecture and design. The local park will allow parents a time of relaxation while the children play.

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