Searching for Northern Virginia foreclosures? This is the second article in a blog series on this topic. You can read Part 1 here.

Search All Northern Virginia Foreclosures Currently on the Market

…Unlike Zillow’s pre-foreclosure listings, the Northern Virginia foreclosures on our website are listed on the MLS and actively for sale. Pre-foreclosures on Zillow are simply properties that are owned by people who are behind on their mortgage payments, and foreclosure proceedings have been started by the owner’s bank.

Another important thing for buyers of Northern Virginia foreclosures to keep in mind is that these types of sales are As-Is sales, meaning the seller will not fix anything or grant in cash credits before closing. Generally, buyers of bank owned properties are still able to do a home inspection, but then can’t ask for repairs or cash credits after the inspection. They’re only able to reserve the right to cancel the contract after the inspection if they find the condition of the property to be unacceptable. However, it’s important to carefully evaluate each and every foreclosure/bank owned property listing and consult with your real estate agent, as many of these properties don’t even allow home inspection contingencies. An actual foreclosure auction (not bank owned property) is typically sold only for cash with no contingencies, often sight unseen.

Are you looking for Northern Virginia foreclosures? It’s important to work with a real estate agent who has a lot of experience with these types of “distress sales”, and who understands how these contracts differ from regular real estate purchase contracts. Call me at 703-462-0700 or email me at DarrenRobetsonHomes@gmail.com so we can chat about your real estate goals.

Have you also heard about short sales? I have a lot of experience with these types of sales as well, so feel free to reach out anytime and ask me how they work. Short sales can be another great way to get a good deal on a home