Louisville KY Foreclosures, Bank Owned and Short Sale Properties

There are a few things you need to know before looking at foreclosures.

First, banks will require a pre-approval letter from your lender saying you are qualified to buy a home for up to a specific value. You have to have the pre-approval before they will respond to any offer you make. If you are paying cash or using a line of credit, you will need to have proof of that as well. They want to make sure you can close on the house before they start negotiations.

Second, your offer cannot be contingent on the sale of a present home. If you own a home and need the proceeds from its sale to buy another home, they will not accept an offer.

They also usually require a $1000 good faith deposit. This is your money, but they hold it hostage until closing and then you are credited back they money against what you need to bring to the closing table. If you want out of the contract for any reason other than defined in the contract they can keep the good faith deposit.

You typically have an inspection period of 7-10 days where you can decide to move forward with the purchase or be released from the contract if issues surface that were not expected. In that case, if you do so within the inspection period speified in the contract you can get your deposit back.

Here is a breakdown of homes in the Louisville Metro area that are foreclosed, bank owned, in pre foreclosure, short sale and being sold "as is". Just click on the link for your free list. But don't forget to call me at 502-807-5648 or Email Me to see any of these properties, I can set it up.

Downtown and West End Foreclosures

Germantown, Highlands St Matthews and Frankfort Ave Foreclosures

Shivley, PRP and Valley Station Foreclosures

Fairdale, Auburndale and Iroquois Park Forecclosures

Buechel, Highview and Okolona Foreclosures

Jeffersontown, Fern Creek and Hikes Point Foreclosures

Middletown, Hurstboune, Lyndon, Propsect and East End Foreclosures

Bullitt County Foreclosures

Crestwood, Prospect, Goshen, Pewee Valley and LaGrange Foreclosures

I have been working with several people looking for foreclosure and short sale deals in the $500,000 price range. There are several options out there, but when people are looking to spend that kind of money for an executive home, the homes we find are missing something they would want in a new home. It could be size, finishes, layout you name it, there seems to be an element that is missing from their dream home.

I have found a builder that understands today's real estate market and is competing with foreclosures and short sales with new construction without sacrificing quality.

If you want to learn more about the upscale east end neighborhoods he is building in, Email Me and I will get you the information you need.

In some cases the homes may be listed by another company, but I can work with you as a buyers agent, at no cost, and have your best interest in mind and not the banks. I will protect you. The listing agent works for the bank, I will work for you and they bank picks up the tab. Call or email me now, would love to hear from you.

Daren Bailey
Realtor/Broker in KY
Coldwell Banker McMahan
6402 Railroad Ave
Crestwood KY 40014
502-212-7421
Email Me
Louisville and Oldham County's Relocation Website