Online real estate investor company shares secrets of buying foreclosed homes with the general public

SACRAMENTO, CA -OBSNews.com- Buying a foreclosure home is a goal of many prospective homebuyers including first-time homebuyers, but the process is not always simple, and buyers of foreclosed houses face numerous uncertainties that can be overcome with knowledge and preparation.

According to the Chief Economist of the National Association of Realtor's (http://www.Realtor.org) Chief Economist, Lawrence Yun, between 33 and 40 percent of current home sales activity results from foreclosures and other properties with an overburdened seller.

Helping people to buy a foreclosure home

Sacramento, California based TheHomeBuyingCenter.com (http://www.TheHomeBuyingCenter.com) helps hopeful home buyers understand the home buying process and connects them with real estate investors and other real estate professionals in their local areas for help with finding a great deal on a home.

The company's buy a foreclosure home services include free introductory counseling for people looking to buy a house that covers subjects like mortgage pre-qualification, how to take advantage of short sales, and tips on making offers. Company president, Patrick McGilvray, commented, “Most banks who own foreclosed houses only will deal with buyers who are pre-qualified for a mortgage loan."

Banks want to sell foreclosures fast

Many lenders who have taken back foreclosed homes list their houses with a local realtor who puts the house on the MLS. Many of these houses are being sold in an as-is condition, and prospective homeowners should have an experienced team of knowledgeable real estate professionals on their side to watch out for hidden problems.

Nationwide real estate network

“Our investors across the country buy houses from people facing foreclosure and sell them to homeowners directly. We also have relationships with thousands of real estate agents who specialize in helping people buy foreclosure homes directly from banks. These agents also work directly with loan officers who know a lot about government loan programs such as FHA loans and down-payment assistance programs,” said McGilvray.