Denver Co Luxury Foreclosures - Opportunities
Denver Luxury Foreclosures
Finding and Getting your Diamond in the rough
Are you going to be a lucky owner of a Denver Luxury Foreclosure? It will depend on the bank, on how strong your offer is (have you heard - cash is king!), if there are other competing offers on the table, and how badly you want the house!
One of the things you will notice, if you are proceeding with an offer on one of the Denver Luxury Foreclosures is that often you will be in a multiple offer situation. Especially is the listing price is good. Within the first few days or even hours, a luxury foreclosure (or any foreclosure) can have multiple offers.
What happens when a foreclosure you have placed an offer on has multiple offers?
The listing agent will 99.9% of the time ask your agent, for your final and best offer. It is your decision to either increase the price of your offer or stay where you are at. Usually you sign a document indicating your choice. Your agent will submit this Final and Best offer document to the listing agent.
Whether there are multiple offers or just your offer, the lender may take several days before responsing to an offer. Depending on the lender you may get a response within 24hrs or sometimes in 5 or 7 days. The lender's response may be an acceptance of your offer (yeay!), a counter offer or a rejection.
If you are the one with an accepted offer you will receive a bank addendum to sign. The bank addendum can be several pages long and spell out various items. One of the them is that you are buying the home AS-IS.
Your agent will deliver the Ernest Money to the Title Company, and once the seller/lender signs the contract and the addendum, which can be a few more days ~ you are officially under contract.
A few more things happen once you are under contract, such as an inspection, an appraisal (if needed) etc. But is all goes well, you will be sitting at the closing in about 30 days and become the lucky owner of your precious diamond.
If you have questions, would like to view any of the Denver Luxury Homes or would like to receive updates of new Denver Luxury Foreclosures as they come on the market, contact as via e-mail Brian@kennarealestate.com or by phone 303-710-2609.
SEE DENVER LUXURY FORECLOSURES CURRENTLY ON THE MARKET
|Contact Kenna Real Estate Broker Brian Burke Denver CO Luxury Real Estate, via e-mail or by phone to inquire about selling or buying luxury real estate in Denver. Direct 303.710.2609. Brian@KennaRealEstate.com|
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Disclaimer: Kenna Real Estate. Blog does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied. Blog posts on the Kenna Real Estate. Blog represent the opinions and ideas of the author(s). Kenna Real Estate. Blog does not express the views of Kenna Real Estate. or those of the broker.