Foreclosure FAQ's
How can Nylund Homes Inc. sell reduced price homes?
What condition are Foreclosure Homes and Bank Repos in?
Can I attend the Auctions and Buy a Home?
How can Nylund Homes Inc. sell reduced price homes?
The majority of the homes Nylund Homes Inc. offers for sale are distressed properties that have gone through the foreclosure process in Vancouver or Battle Ground of Clark County Washington and Kalama, Kelso and Longview of Cowlitz County, Washington. These homes are more commonly known as repo homes, repossessed homes, bank repossessions, foreclosed properties and foreclosure homes. We purchase these bank-owned properties at the foreclosure auctions that take place due to home-owners inability to make house-payments. Nylund Homes Inc. only purchases homes that are sold at the Foreclosure Auctions for less then the Market value of the home. (This usually only happens when the original home owner owes less than the actual Market Value.)
What is Foreclosure?
Foreclosure is a process in which the lender (bank) attempts to recover the amount owed on a certain property. Before the Home goes into foreclosure, the borrower (owner of property) ceases to pay the mortgage payments. The lender (bank) will then attempt to collect the dept by filing a Notice of Default. At this step in the Foreclosure process there are three possibilities. The owner may attempt to reinstate the property to pay off the debt. The owner may also sell the property to a third party to pay off the loan. This is also called a short sale, due to the fact that the sale must be completed before the property goes to auction. This solution also erases the possibility of the owner having a foreclosure show on their credit history. And the last possibility is the home would go to foreclosure and be sold at a public auction. If no interested parties bid on the home at the foreclosure auction, the home is reverted to the bank and the bank becomes the full owner.
What condition are Foreclosure Homes and Bank Repos in?
Foreclosure homes are sold as-is and most often are bought in a fixer-upper condition. The foreclosure homes almost always require 1,000's of dollars worth of repairs to paint, flooring, siding, windows, electrical, plumbing and more. The bank does not offer any warranty's or guarantees and returns are not allowed.
Nylund Homes Inc. offers both Fixer Upper properties and Updated and Remodeled homes in Vancouver, Longview, and Battle Ground, WA. Nylund Homes Inc attends the Trustee Sales (Foreclosure Auctions) in Clark County and Cowlitz County. We have a selection of homes for you to choose from whether they are fresh from the foreclosure process and in need of repair OR our remodel team has already finished the repairs for you. We have streamlined the buying of Bank Foreclosed properties to allow us to sell extremely cheap, bargain priced homes.
Can I attend the Auctions and Buy a Home?
All experts will recommend that you do not bid on foreclosure properties and a public auction unless you are experienced and/or knowledgeable on the risks and pitfalls. This is a helpful article that outlines the process of Buying at Auction . And here is another article that is sums up the risks of buying foreclosures at County Auctions. Gary Colemansmith talks about buying foreclosures at the Clark county courthouse steps. With over 13 years and 750 purchases of real estate auctions, he has good advice " If it sounds too good to be true, It probably is"
This information is based on the laws and regulations of Foreclosures in Clark County, Washington and Cowlitz County, Washington. Please do not rely on this information as we are not responsible for any losses you incur.
This information is supplied as a courtesy only. We recommend you contact an Attorney before bidding on any Foreclosure Auctions. Please do not contact us regarding Foreclosure Investment.
We Cooperate with Real Estate Agents! Contact your Agent or
Nylund Homes Inc.
Clark County
Kathy Dessimoz, Realtor®
Prudential NW Properties
360-721-4031 or kdessimoz@comcast.net
Cowlitz County
Trey Davis, Realtor®
Coldwell Banker Flaskerud Realty, Inc.
360-430-7624 or tdavis@flaskerud.com
AHS HOME Warranty
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