Yarmouth Foreclosures

Geographic Location

This populace is in Barnstable County about 75 miles South East from Boston. It has a population of about 23,793 people and was settled in 1639. With an area of around 28.2 square miles this community has many exciting things to offer. This was an active site of The Sons of Liberty organization during the American Revolution. The city has a major seaport and lots of beaches both on lakes and the ocean. With lots of conservation areas there is many trails for hiking and outdoor activity. This active community is bordered by Cape Cod Bay, Dennis, Nantucket Sound, and Barnstable. Come and enjoy the historic sites and vast recreational areas of this historic city.

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Bank Owned Properties

Bank owned properties are often referred to REO properties. This term just means real estate owned. These homes are owned by the bank and are sold as-is. Most of these homes are vacant and ready to be occupied by the new owner. The homes have already gone through auction and were not sold for various reasons making them an opportunity for those looking for a bargain. Those who might be interested in these types of homes are investors, landlords, and families looking for a cheap home. The best time to buy these properties is as soon as you can. However, it is important to first research the property and have it inspected. This will let you know what issues may need to be addressed and determine what the fair market value of the home is supposed to be. It’s also a good idea to make sure the neighborhood will fit your needs. Buyers can find these homes listed in REO directories, mortgage companies, and by contacting an agent who specializes in REO sales. Bank owned properties can be purchased through auction, directly from the lender, and through an agent. Before deciding to purchase these homes, it is a good practice to use an agent who can help you navigate through all the legal procedures involved in these types of sales. It is also a good idea to have all potential properties thoroughly inspected to ensure they meet your expectations.

Examples of the Potential Cost of Bank Owned Property

• A two-bedroom home with two bathrooms with approximately 1,145 square feet of living space trades for around $254,000.
• A three-bedroom home consisting of two bathrooms with 1,324 square feet of living space can potentially market for $261,000.
• A four-bedroom home with three bathrooms consisting of about 1,908 square feet of living space may sell for around $328,000.

Short Sales/Pre-Foreclosure Properties

The homes that are being sold in Short Sales are in danger of being foreclosed due to missed payments by the owner. As a result, the property owner is selling the home at below market value in hopes of being able to get out of debt with the mortgage company. This means the owner is motivated to sell as soon as they possibly can. This gives the buyer an advantage. The buyers who benefit from this type of sale are first time home buyers who are looking to get a home at a cheap price without a high mortgage and direct cash buyers. If you’re considering buying a home from a Short Sale, then it may be helpful to have an agent help you with all the different processes that need to be executed to complete the sale. It is important to ensure the home is inspected so that any repairs can be dealt with. It is also important to make sure there is no liens on the property or that they will be covered by the time the sale comes through. Being pre-approved for financing will also help make sure things go as smoothly as possible. It is important to know what your expectations are for the home. This will help you can negotiate with the mortgage company and get the home at a price that’s fair to you. It will take some time for them to consider your offer and approve the sale, so be patent through this process. A potential buyer can find property to consider through the mortgage company, HUD, and banks. To purchase these homes, the buyer or their agent will need to contact the home owner or the mortgage company handling the sale.

Examples of the Potential Cost of Short Sale Properties

• A three-bedroom home consisting of one and a half to three bathrooms with a living space of approximately 1,276 square feet to 1,400 square feet can sell for around $ 223,000 to $301,000.
• A four-bedroom home with two bathrooms and approximately 1,952 square feet of living space can go for around $150,000.

Reason to Choose Yarmouth

People who want to live in this historic city can enjoy dinning, shopping, and experience the outdoors at the beach. This city has many historic landmarks, business opportunities, and is family friendly. The family friendly environment is inviting to those looking for a safe and peaceful place to raise their young ones. The city also offers many prospects for those looking to start a new career.

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