Northwest Properties Brokers Network

How do the buyers get such a discount?

Banks do not want to foreclose on a house, they are not in the business to own Real Estate their business is lending money. They will actually discount homes a minimum of 10% below market value, and sometimes even more, saying the bank from foreclosure cost and attorney fees along with other expenses needed to foreclose. As you can see, this is where working with the bank and Northwest Properties Brokers Network a buyer can get an unbelievable deal.

Is this the best time to buy?

Yes, all the mortgage lenders and Real Estate investors agree, this is the best time to buy with the interest rates the lowest in years and all the foreclosures flooding the market. There is an abundance of homes priced below market value right now.

How does a person who is ready to buy a home find a short sale home?

When you sign up for our Buyers Registry, we put you in our system and we profile your needs just like an investor. When a seller comes in with a new listing we go to our Buyers Registry and we compare the new listings with the needs of the buyer in the registry. The buyers will be notified and they will get an opportunity to look at the house before it is advertised with the public. We give the buyer a 48 hour head start to see listings before it is put on the public website. This gives the average home buyer the same opportunities that the investors have always had, staying ahead of the competition.

How do I get information on the Buyers Registry?

Call our office and ask for the Buyers Department. @ 888.910.9116, fill out the Buyer Registry form on the web site and someone will call you back soon.

How does a buyer pet the first pick, before the house hits the market?

To be in agreement with the local multiple listing service, we have 72 hours to put all new listing on the public website. This is where people can view information of all the houses being sold by realtors. Investors are ready, willing and able to purchase. They know what they want to buy, so they act quickly. We have found buyers don't usually know what they want and they are not ready to buy!

So how do you fix this?

We find out what the buyers' needs are and when a new listing comes in we see if it matches their needs. We teach home buyers how to put themselves into a position like an investor would. To be pro-active and ready to make a move. With some guidance Buyers would be able to save thousands of dollars.

Do I have to be pre-approved with a mortgage lender before I sign up for the Buyers Registry?

We work with a number of mortgage lenders. When you come to the office to sign up for the Buyers Registry we can get you pre-approved at that time. Howeyer you do need to be pre-approved before you make an offer on a house.

Do I need to use your mortgage lenders?

We prefer you to use our lenders, we know them and trust them. They are familiar with short sale transactions, which are difficult. We also know that these lenders will take great care of you, getting you the best rates with the best terms and no surprises at closing.

Are all buyers welcome to sign up for the Buyers Registry?

This program is developed for buyers not represented by a realtor.

Is buying a short sale on the Buyers Registry the only way to go?

No, it really isn't. Some people are not patient enough for a short sale or need to move in 30 days. A short sale might take an extra 30 - 60 days to get it closed. There are three types of homes. Over-priced fair-market priced and under priced. The over-priced homes are usually where the sellers need to get a certain amount out of the house, and they are not usually realistic about the market. A fairmarket value home priced right, might take awhile because there is a surplus of these homes right now. Below market value would be a distressed home like a short sale or a foreclosure.

Do I get a better deal with a Short Sale?

Yes, no matter what the fair market values is, a short sale will be about 10 percent cheaper depending upon which bank we are negotiating with. So this means that if it is a $250,000 home at fair market value, a short sale would sell for about $225,000. You have to be patient. A short sale could take 30-60- days to be bank approved and another 30 days to close. If you want to save $25,000 in about 60 days, it's a great value.

Is there any guarantees that the sellers banks will discount the 10% below market value?

There are no guarantee with any of the banks, they tell us most of the time what % and what programs they will do. It's always changes and this is one of the reasons why short sales are so difficult. Sometimes the savings can even be up to 20%. The challenge is what is fair market value today and what is the program the bank is working with.

How can I get an under-priced short sale home?

Get registered. Our program is great, it is the same program that I have been working with investors on for almost 20 years. We have helped many people, save a lot of money, purchasing their home.

It sounds like a regular home buyer can get all the same opportunities as an investor?

Yes, this is what I am excited about, I have helped investors for a long time now. I am offering this opportunity to the regular home buyer. If you are buying a house, you are investing into your future. Your home will be the biggest investment that most people will ever make. Why not do some research?