"Chris" wrote in message
oups.com...
Hello I wanted to know if any body could help with a couple of
questions I have.


1. What are the advantages and disadvantages to buying a foreclosed or
police seized home.'

Absolutely no advantage at all. They go for the same price as a home that
may not need all of the repairs.



2. What is the best way to accomplish this

I hope you have a LOT of time and have 100% cause banks and the county will
accept a cash deal over any that is fininaced.


3. what do you need to accomplish this

Try contacting realitors some specialize in this market.

4. How much of a discount is there and is it worth it

Absloutely no discount.


5. What are the major problems that Arizona homes have most times that
are repo homes just A/C and floor and walls or what else do you have to
watch out for?

Each home will have to be evulated on its merits or lack there of.

Thanks, Chris

Recently I found a bank repo decent area, South Mountain with great views.
Listing was 4 years old for 190k as is. $400 in back HOA dues.
Holes in the walls, doors missing, no appliances, dead landscaping, HOA, no
landscaping ever install in the back yard. A/C questionable it had been run
for some time with no filter, no window coverings and all of the flooring
had pee marks even the tile would have to be torn out because of the oil
stains. House needed painting inside and out and there was no garage door
opener. This house needed about 15-20k dumped into it and a lot of love.

I was up for a challenge. I sat down with my realtor and her broker and we
came up with a strategy. I was told that they should take 85% of listing
price. So I went in with that.
They had no offers in 30 days, offer REFUSED. No discussion no counter
I countered at 90%, offer REFUSED, no discussion no counter.
I countered at 95% offer REFUSED, no discussion no counter.
The listing agent was calling my realtor and apologizing for the situation.
The list was up and the listing realtor refused to re-list it.

The house sold 2 months later for $230k as is. Comps in the area were 180k
to 190k.

I bought a home near buy in another community, for 164k, no work needed and
vacant

Good luck, your going to need it.