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3 Benefits of Buying a Foreclosure in Woodbury, MN

The real estate market is hot right now and there are still great opportunities to buy homes in Woodbury, Minnesota for less than market value. There are still foreclosed homes in Woodbury that can be purchased at prices well below market value.

Here are 3 of the top benefits of buying a foreclosed home in Woodbury, MN:

Money Foreclosed House in Minnesota1. More House in Woodbury, Less Money Spent in Woodbury

With home prices being lower than they were 5-7 years ago, you can now get more house for your money. This is especially true when buying a foreclosed home. When a home is foreclosed, the bank owns the property and most banks are not interested in owning real estate. In fact, they want to get the home off their books as soon as possible and in order to do so, they will drastically reduce the price of the home. This means you may be able to purchase a larger home in Woodbury that may have been out of your price range if it was sold by a traditional seller.

2. No Traditional Minnesota Sellers

Speaking about sellers, another benefit is that you don’t have to deal with the original owners of the house. This means your offer to the seller of the house, the bank, is all business. Often times sellers will get wrapped up emotionally in the sale of their house and take it personally when a low offer comes through or a buyer asks them to fix something after an inspection. When working with the bank as the seller it is pretty cut and dry. An additional bonus is that once you sign the paperwork and the house is yours, you don’t have to wait for the sellers to move out.

3. In Minnesota Foreclosures, the Bank Pays the Fees

When you buy a foreclosed property you don’t have to worry about paying any real estate fees. The bank pays for both commissions for the Buyer’s Realtor and the Seller’s (the bank’s) Realtor, any delinquent property taxes and/or homeowner’s association fees. In some cases, the bank will pay the buyer’s closing costs if it is negotiated into the original offer.

Have you gotten a “good deal” on real estate in Woodbury, MN or in Washington County? Or are you wondering what kind of house you can buy in Woodbury, MN or in Washington County? Give us a call today to learn more about buying a foreclosed property in Woodbury, MN or in Washington County or leave a comment below and tell us about your good deal!