Lakeshore, Acreage and New Construction Foreclosures that are Move-In Ready for Washington County Homebuyers!

Looking for a foreclosure, bank-owned or short sale but need to be able to live in the home immediately after closing?

Good news is that foreclosures are no longer always trashed, fixer-uppers. Today's foreclosures can be simply AWESOME! This economy has forced builders and responsible homeowners alike to let amazing properties go back to the bank. Many are still in pristine condition. Some still may require a bit of cleanup or a few cosmetic changes but there are many in move in condition too.Here are a few of the treasures I noted while perusing theTwin Cities MLS in Washington County today:

• 4+Acres in Lake Elmo. Beautiful acreage 2002 built two story 4BR/4BA/3Car home with over 3800 square feet of finished living space. Tax value $699K; bank priced $200K less
• Lakeshore Beauty!! Almost 4700 sq ft finished, 6BR, 2 story with bank of windows to view Forest Lake. Previously listed at 700K, bank listed for under $460K.
• Brick Rambler on 5 Acres Near Afton Alps! 5BR/3BA/3 car built in 2003 with picture perfect oak floors and huge master suite. 4000+ finished. Originally listed at $624K but foreclosure priced at $349K!
• BRAND NEW 4BR/3BA townhome with vaulted ceilings in Forest Lake. Stainless appliances, cherry cabinets, master suite and more! Tax valued at for $262K…Bank asking $200K.
• 2Story Oakdale New Construction Beauty! 5BR/4BA with 3 car built in 2007 with granite, stainless, 4 BR on one level and more. Builder asking price $600K but bank asking $424K.

If you are in the market for a great deal on a foreclosed home, time to get organized because the rules to buy are a bit different than when working with a traditional seller.
Seven Tips for homebuyers considering a foreclosed home:

1. Banks LOVE clean offers. Buyers MUST be preapproved with credit checked and employment and funds verified. Documentation must accompany the offer or it won't be considered.


2. Banks reject lowball offers...often with no negotiation. They are a business and know the value of the asset they are selling.


3. Well priced foreclosed homes get multiple offers. Serious buyers put in their best bid first.


4. Banks sell homes AS-IS. What you see is what you get. Buyers must be prepared to make all necessary repairs out of their own pocket after closing.


5. Banks will not pay for inspections in most cases. This includes the septic system and/or well. Be prepared as all inspections could end up being the buyer's responsibility. If you chose to inspect the septic or the county requires a septic compliance test, expect to pay $400-$500 for this inspection. A well test will run around $150. A whole house inspection is $350-$500.


6. Personal property is not included as part of the sale. So if the appliances are at the home when you close, they are a bonus. The bank will not remove. But they don't guarantee will remain at the home or that they are in working order. This means if someone breaks in the home prior to the closing and takes them, the bank will not replace.


7. Having your own REALTOR® to represent your interests is essential. The listing agent is under contract to represent the bank. In many cases, the bank will not allow a dual agency so if a buyer contacts the listing agent to write the offer, the buyer does not have representation. This means all of your information goes to the bank...the listing agent is required to tell the bank everything that you say about your financing and the amount you are able or willing to pay. But the agent is not required to tell you anything in return. The agent works only for the bank.

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Foreclosures on Lakeshore, Acreage and New Construction in Washington County that Buyers WANT to Call Home!

Looking for a foreclosure, bank-owned or short sale but need to be able to live in the home immediately after closing?

Good news is that foreclosures are no longer always trashed, fixer-uppers. Today's foreclosures can be simply AWESOME! This economy has forced builders and responsible homeowners alike to let amazing properties go back to the bank. Many are still in pristine condition. Some still may require a bit of cleanup or a few cosmetic changes but there are many in move in condition too.

Here are a few of the treasures I noted on the Twin Cities MLS in Washington County this morning:

• 50 feet of lakeshore on Forest Lake’s first lake. Newer home with over 4600 square feet of living space and under $450K.
• Starter home with 40ft of Forest Lake shoreline. Older but liveable one BR with den. $189,900.
• Hugo New Construction Modified 2-Story in Water's Edge w/Master Suite. Previously listed at $375K, bank offering at $269K.
• Brand new end 2 Story Tudor in Victor Gardens, Hugo. Granite, HWD, whirlpool mstr suite. Originally listed for $499K but now sold by the bank for $369K.
• New Construction Executive homes in Lake Elmo 5BR/4BA two stories in St. Croix's Sanctuary that listed originally at the $1 million mark, now being offered by the bank for $790K.
• Brand NEW Forest Lake 3BR/3BA/2 car townhome with 2100+ finished sq ft listed originally at $200K but bank has now priced $50,000 less at $149,900!

If you are in the market for a great deal on a foreclosed home, time to get organized because the rules to buy are a bit different than when working with a traditional seller.
Seven Tips for homebuyers considering a foreclosed home:

1. Banks LOVE clean offers. Buyers MUST be preapproved with credit checked and employment and funds verified. Documentation must accompany the offer or it won't be considered.


2. Banks reject lowball offers...no negotiation. They are a business and know the value of the asset they are selling.


3. Well priced foreclosed homes get multiple offers. Serious buyers put in their best bid first.
4. Banks sell homes AS-IS. What you see is what you get. Repairs will not be made.


5. Banks will not pay for inspections in most cases. This includes the septic system and/or well. Be prepared as all inspections could end up being the buyer's responsibility. If you chose to inspect the septic or the county requires a septic compliance test, expect to pay $400-$500 for this inspection. A well test will run around $150. A whole house inspection is $350-$500.


6. Personal property is not included as part of the sale. So if the appliances are at the home when you close, they are a bonus. The bank will not remove. But they don't guarantee will remain at the home or that they are in working order. This means if someone breaks in the home prior to the closing and takes them, the bank will not replace.


7. Having your own REALTOR® to represent your interests is essential. The listing agent is under contract to represent the bank. In many cases, the bank will not allow a dual agency so if a buyer contacts the listing agent to write the offer, the buyer does not have representation. This means all of your information goes to the bank...the listing agent is required to tell the bank everything that you say about your financing and the amount you are able or willing to pay. But the agent is not required to tell you anything in return. The agent works only for the bank.

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Washington County Lakeshore, Acreage and New Construction Foreclosures that are Move-In Ready for Homebuyers!

Looking for a foreclosure, bank-owned or short sale but need to be able to live in the home immediately after closing?

Good news is that foreclosures are no longer always trashed, fixer-uppers. Today's foreclosures can be simply AWESOME! This economy has forced builders and responsible homeowners alike to let amazing properties go back to the bank. Many are still in pristine condition. Some still may require a bit of cleanup or a few cosmetic changes but there are many in move in condition too.Here are a few of the treasures I noted on the Twin Cities MLS in Washington County this weekend:

• 2003 Built Forest Lake 2 Story. Picture-perfect 3BR/3BA/3Car home with over 2100 square feet of living space finished and unfinished basement. Last year listed at $425K bankpriced at $255K.


• 4BR on one level 2Story in Landings of Summerfield Forest Lake. Built in 2006 with all the bells and whistles…Master suite, granite counters, maple cabinets. Tax valued $430K…Bank asking $309K.


• Lakeshore Beauty!! Almost 4700 sq ft finished, 6BR, 2 story with bank of windows to view Forest Lake. Previously listed at 700K, bank listed for under $460K.


• 2BR/2BA end unit townhome with vaulted ceilings in Forest Lake. Originally sold in 2005 for $173K…Bank asking $119K.


• Rambler on 1/2Acre with Egg Lake View in Hugo! 4BR/3BA with 3 car built in 2005 and sold for $539K now asking $449K and not even in foreclosure!


• 4BR/2BA on 5Acres in Hugo. Sold in 2006 for $345K bank asking $180K includes seller pd new septic system!


• New Construction Home in Victor Gardens Hugo with 2100 sq ft finished tudor with creek view priced originally at just under ½ a million but bank has listed for $369K.


• West Lakeland Executive 2.8 acre Estate. 4BR/4BA/3car 2story home with nanny’s quarters and inground pool. Originally asked $900K, bank priced $580K.

If you are in the market for a great deal on a foreclosed home, time to get organized because the rules to buy are a bit different than when working with a traditional seller.

Seven Tips for homebuyers considering a foreclosed home:

1. Banks LOVE clean offers. Buyers MUST be preapproved with credit checked and employment and funds verified. Documentation must accompany the offer or it won't be considered.


2. Banks reject lowball offers...often with no negotiation. They are a business and know the value of the asset they are selling.


3. Well priced foreclosed homes get multiple offers. Serious buyers put in their best bid first.


4. Banks sell homes AS-IS. What you see is what you get. Buyers must be prepared to make all necessary repairs out of their own pocket after closing.


5. Banks will not pay for inspections in most cases. This includes the septic system and/or well. Be prepared as all inspections could end up being the buyer's responsibility. If you chose to inspect the septic or the county requires a septic compliance test, expect to pay $400-$500 for this inspection. A well test will run around $150. A whole house inspection is $350-$500.


6. Personal property is not included as part of the sale. So if the appliances are at the home when you close, they are a bonus. The bank will not remove. But they don't guarantee will remain at the home or that they are in working order. This means if someone breaks in the home prior to the closing and takes them, the bank will not replace.


7. Having your own REALTOR® to represent your interests is essential. The listing agent is under contract to represent the bank. In many cases, the bank will not allow a dual agency so if a buyer contacts the listing agent to write the offer, the buyer does not have representation. This means all of your information goes to the bank...the listing agent is required to tell the bank everything that you say about your financing and the amount you are able or willing to pay. But the agent is not required to tell you anything in return. The agent works only for the bank.

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Foreclosures on Lakeshore, Acreage and New Construction in Washington County that YOU will WANT to Call Home!

Looking for a foreclosure, bank-owned or short sale but need to be able to live in the home immediately after closing?

Good news is that foreclosures are no longer always trashed, fixer-uppers. Today's foreclosures can be simply AWESOME! This economy has forced builders and responsible homeowners alike to let amazing properties go back to the bank. Many are still in pristine condition. Some still may require a bit of cleanup or a few cosmetic changes but there are many in move in condition too.

Here are a few of the treasures I noted on the Twin Cities MLS in Washington County this past weekend:

• 50 feet of lakeshore on Forest Lake’s first lake. Newer home with over 4600 square feet of living space and under $500K.
• Executive log home on 5 Acres of Scandia countryside. Previously listed at $600K now priced at $309K.
• Brand new end unit townhome with master suite in Forest Lake. Originally listed for $297K but now sold by the bank for $169K.
• New Construction Executive homes in Lake Elmo 5BR/4BA two stories that listed originally at the $1 million mark, now being offered by the bank for $780K.
• Rambler in Stillwater on 3.5 acre executive estate with 2900 sq ft foundation and 8 car attached garage listed originally at $1.5 million but bank has listed for $650K.

If you are in the market for a great deal on a foreclosed home, time to get organized because the rules to buy are a bit different than when working with a traditional seller.

Seven Tips for homebuyers considering a foreclosed home:

1. Banks LOVE clean offers. Buyers MUST be preapproved with credit checked and employment and funds verified. Documentation must accompany the offer or it won't be considered.


2. Banks reject lowball offers...no negotiation. They are a business and know the value of the asset they are selling.


3. Well priced foreclosed homes get multiple offers. Serious buyers put in their best bid first.
4. Banks sell homes AS-IS. What you see is what you get. Repairs will not be made.


5. Banks will not pay for inspections in most cases. This includes the septic system and/or well. Be prepared as all inspections could end up being the buyer's responsibility. If you chose to inspect the septic or the county requires a septic compliance test, expect to pay $400-$500 for this inspection. A well test will run around $150. A whole house inspection is $350-$500.


6. Personal property is not included as part of the sale. So if the appliances are at the home when you close, they are a bonus. The bank will not remove. But they don't guarantee will remain at the home or that they are in working order. This means if someone breaks in the home prior to the closing and takes them, the bank will not replace.


7. Having your own REALTOR® to represent your interests is essential. The listing agent is under contract to represent the bank. In many cases, the bank will not allow a dual agency so if a buyer contacts the listing agent to write the offer, the buyer does not have representation. This means all of your information goes to the bank...the listing agent is required to tell the bank everything that you say about your financing and the amount you are able or willing to pay. But the agent is not required to tell you anything in return. The agent works only for the bank.

Copyright 2009 Teri Eckholm http://www.terieckholm.com/