5 Tips on Buying a Foreclosure in Chester County

“Can you show me the foreclosures?”

I can sense the nervous excitement in the air as the words slip through my client’s lips.  Visions of “bagging the big one”…..a 4 bed, 3 bath McMansion in the sought after Downingtown suburb of Chester Springs for mere pennies on the dollar begins to intoxicate the mind like a pitcher full of long island iced tea on a hot summer’s night.  He can almost see it now, the banker falls to his knees  & begins to shake,  clasping at the cuffs of his khakis screaming, “Please, please, take this property off my hands.  It’s yours, I’ll take whatever you wanna’ pay for it.”

It’s no wonder why the public perception is that foreclosures are everywhere, and that they can be had for a mere pittance.  When you watch the news, you see the stock footage of that neighborhood in Phoenix where every home in the develpoment has a For Sale sign up with a little “Foreclosure” rider perched on top.

The other day as I navigated the Rt. 30 Bypass between Exton & Downingtown, I was tuned in to a local sports talk radio show.  As the commercials rolled, I heard one that was so egregious I nearly had to pull over and grab one of those little airline barf bags out of my glove-box and put it to good use. 

The commercial featured 2 young people having a conversation about how the one could possibly have afforded this magnificent home on such a modest income.  Of course, this magnificent home was obtained as a foreclosure that the buyer had purchased for less than they had been paying in rent.  The commercial goes on to give an example of a 4 bed, 2 bath home that is selling for $30,000.  I’m not exactly sure how the rest of the scam goes, but it’s just another example of how the public is being grossly misinformed about the state of the foreclosure market in Chester County today.

As a Buyer Specialist in Chester County, “can you show me foreclosures” is now the question Du Jour.

The answer is YES.  I can show you any foreclosures on the market in Downingtown, West Chester, Coatesville, Exton, Phoenixville, & anywhere else in Chester County.

However, once I help my client’s do a little soul searching, I often find that they don’t fully understand the differences between a foreclosure and any other home on the market. 

To determine whether or not buying a foreclosure makes sense for you, first you’ll need a professional who has experience with this specialized type of transaction.  Someone who can educate you on the way the banks do business and to warn you about the common pittfalls that may be lurking on the horizon.

So stay tuned for more valuable info on how to buy a foreclosure in Chester County, PA

Current Foreclosures in Chester County by Area

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