Should I buy a Foreclosure, Short Sale or Wait for a good deal?
Frisco currently has 948 homes for sale in Frisco in both the Denton County and Collin County. There are 31 homes for sale in Frisco that came on the market for sale yesterday, some of which are a great deal. These Frisco Homes are Foreclosures, Short Sales and Privately owned homes. Some are good deals and some are not.
If you are a buyer looking for a good deal then you should be patient but be able to act quickly. For example 12235 Red Hawk DR in Grayhawk is priced at $161K and is 2100 square feet and 10465 Hay Meadow DR in Meadow Hill Estates is 3390 square feet and is prices at $241K both are good deals for Frisco. But because they are good deals they won’t last long. Another example of a good deal is 11857 Stephenville in Panther Creek of Frisco this home is a Short Sale.
Buyers should use a website to search for properties that updates daily and also don’t have homes that have already sold on them; www.teamdecell.com is a great site for that. You need a website that updates daily because as I mentioned on good deals the buyer will need to act quickly, and if a website doesn’t update daily then when you finally see the home it may be a week old and have multiple contracts on it.
In shopping for Foreclosures Homes, also know as Bank Owned properties, Short Sales and the other homes in Frisco that are good deals, something else to consider is your real estate agent. Does your agent have a strategy when it comes to submitting an offer on Foreclosures, Short Sale or a good deal? There are a number of things your agent can do to help insure that your offer is the accepted offer. Talk with them and find out what and how they plan on ensuring your offer doesn’t get beat out by another offer.
Short Sale properties are in a class of their own. They are not short in regards to duration but they are short because the sale price will be short of the payoff or loan amount. Here again make sure your agent has a lot of experience in selling and listing short sales. If your agent has list numerous short sales then he will know what goes on behind the scenes with the bank approval process and will be able to guide you properly. Many real estate agents that only represent buyers don’t fully understand the process and how it works; this lack of knowledge will be to your detriment and a large waste of time. As I mentioned 11857 Stephenville in Panther Creek of Frisco is a short sale that just came on the market. The Listing agents’ goal is to get an offer as quick as possible to stop any Foreclosure preceding that might have started. But many agents don’t realize that the offer submitted is a fully executed offer to purchase the property and that the listing agent can only accept one fully executed contract on the property. You can have a back up contract but your agent will let you know that and you will sign a form saying that you acknowledge that this is a back up contract. So all that to say if your not the execute contract you may be just another contract in a pile of other contracts that the listing agent has on his desk. TEAM DECELL has a great deal of experience in short sales both on the listing side and the buyer’s side. 
This article is not meant to say that TEAM DECELL are the only capable realtors in the market place, because that is not true. We have worked a lot of great agents over the years. This article is meant to give you knowledge so that you can make a qualified decision regarding the realtor that you do use. Make sure they are experienced in all aspects of the real estate industry, make sure they are full time agents, you don’t want to work with someone that only works the business for play money or because they are bored. Full time agents are dedicated to their business because it’s their livelihood. They want to earn your future business and the business of your friends and family, so they will want to do a great job for you.
If you would like additional information about what we have talked about in this article contact TEAM DECELL at our website or call 214-975-3210. We are a team of 5 agents with an assistant. We will make your next buying or selling experience a pleasant one.
