Bank Owned Foreclosures – Timing Is Everything

If you ask any seasoned investor about the purchase of bank owned foreclosures, you will discover that timing is actually everything in this business. By knowing when the right time to make your move is, you actually avoid some of the serious risks that usually come with foreclosure investingThe Right TimeAs a buyer, it is considered smart to find out first if market conditions favor you. If it does, you can enjoy having all the advantages such as being able to name your price.What are these market conditions, you might ask.For starters, you should check if there is a large inventory of bank foreclosures to choose from. If there is, it means that sellers will most likely have a hard time selling the repo properties because of the tough competition and would go to any length just to do so. In this situation, you can expect huge discounts as well as additional incentives.Another thing that would indicate if the timing is right to invest in bank owned foreclosures is the home sales activity. If the activity is positive, meaning that there are plenty of homes being sold, it could mean that investors consider the market to be worth the trouble