Sunday, January 27, 2008

Fixers for Sale - Encino, Studio City, Sherman Oaks, Burbank

It's only natural that people like to buy a home at a great price. I set off to build some unique websites 6 months ago to help home-buyers here in the San Fernando Valley find what their looking for without having to look through hundreds of properties.

Two unique sites I build are http://www.bankowned.la/ and http://www.fixers.la/ . The bank owned sites instantly displays bank owned properties. The fixers site displays homes which are labeled as fixers. They could be light fixers or complete tear downs.

There are risk involves when purchasing a bank owned home. In most cases the bank will not pay for the Termite work, retrofitting and will also ask you to get pre-approved with them. Banks will also not make any repairs as the homes are sold AS-IS. Though these could be minor expenses, it's best for a home-buyer to have the work checked early enough to make a decision if they want to continue to purchase of the home.

On the other hand, buying a fixer from a seller can be less risky, and you are more inclined to negotiate on the credits even after the agreement has been signed. You can search for fixers in the San Fernando Valley by visiting: http://www.fixers.la/

One important note: No house is ever sold AS-IS. The California Residential Purchase Agreement give you the right to bring as many contractors through the home as necessary. If a problem is discovered, you can either ask for a repair, credit, or simply walk away from the agreement. It's your right! Also, purchasing a home without a professional home inspector is a mistake which can cost you a lot of money.

If your serious about buying a home here in the San Fernando Valley, work with a professional Realtor can make a big difference.

Sincerely,
Richard Johnston, RE/MAX OTB Estates
818-730-4128

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