Alaska Residential Foreclosures
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Finding accurate information on foreclosures can be daunting. There are serveral places to look for foreclosures in Alaska, like Reaty Trac, Trulia and Zillow. They all have a foreclosure link on thier site, but the info is often very limited or out of date for Alaska. The information displayed here are foreclosures that have reverted to the bank and have been listed with a real estate licensee that uses the Alaska MLS system. Foreclosure homes are often listed without a lot of extra information. We are able to dig up data upon request on foreclosure properties. Some of the information that we may be albe to provide on a limited basis would be previous detail showing photos prior to foreclosure. More detailed photos of the property. How long the foreclosure has been on the market and the market history prior to foreclosure. Previous sales prices may also be obtained.
Foreclosures come with a separate set of rules. Most real estate transactions between buyers and sellers use a traditional set of rules as to who pays for what closing costs. Unfortanetely this set of rules does not apply when dealing with the bank. Quite often foreclosures have repair issues that will prevent them from typical financing. There are various solutions to the financing issues depending on the entity that owns the property and the buyer’s financial streangth. Many banks have special financing options such as the VA vendee financing which currently allows for a zero down payment. Fannie Mae has has thier HomePath loan whis is a low down loan and a renovation program for equity building properties. The first step is finding the property. This is where it starts!
