FIND a Hampton Roads Foreclosure
Where to find a foreclosure in Virginia Beach, Norfolk, or any area in Hampton Roads
Sign up at VBForeclosures.com for weekly updated listings for Foreclosures in Virginia Beach, Norfolk, and Chesapeake. Search all Hampton Roads MLS Listings for free on your own at BuyVB.com using the largest local Hampton Roads listings database, and check out a guided "How To Search for Virginia Beach Foreclosures" video at SearchVirginiaBeachForeclosures.com - It's FREE!
GET PRE-APPROVED to buy a Foreclosure
What you need to know about the FIRST STEP - PRE-APPROVAL.
Go here and tell us you'd like to be pre-approved! Pre-approval is the first step in the home buying process, and is usually a quick process started by only a 5 to 10 minute call. It allows you to determine how much you can afford based on income, debts, and a number of different factors. You'll find out about what rates are available, and which loan programs are the best for your situation. You'll have the opportunity to review your credit report in order to make sure there are no errors or questions that will come up later in the process. And you'll be issued a pre-approval letter to be used with your eventual purchase offer, as required in order to submit an offer on a house.SEE a Hampton Roads Foreclosure
Find one you like? Let's check it out in person!
See a Virginia Beach Foreclosure, Norfolk Short Sale, or Chesapeake foreclosed home or another Hampton Roads listing that you're interested in taking a closer look at? Call or text us 24/7 at 757-515-0594 or email info@buyvb.com to check availability and schedule a time to see the listing in person. Note: you must NOT ALREADY BE WORKING WITH A AGENT. We are buyer agents and have invested significant time and effort in our resources in order to represent YOU in the purchase of a home. This is how we make our living. If you are already using the services of an agent, please have them help you.OFFER TO BUY a Hampton Roads Foreclosure
Settle on one you want? How to put in an offer.
So you found one you'd like to buy. Great! Now is the time discuss the initial offer price based on the market conditions in the area, analysis of the sold properties, and your overall interest in the property. We write up the purchase offer and sit down with you to discuss the specifics and go over the paperwork required to submit the offer, which is usually about 18 to 25 pages. This usually take about 30 to 45 minutes, and you are encouraged to ask any questions you have about the documents and the process along the way. Additionally you need to submit an Earnest Money Deposit (EMD) - usually $500 to $2,500 or more depending on the property - that is deposited once all sides agree on the terms of the purchase, and is credited toward YOUR closing costs at settlement.INSPECT a Hampton Roads Foreclosure
Make sure you know what you're getting!
All homes are different and can often hide defects and deficiencies that you would be unaware of without an inspection. While most foreclosures and short sale properties are sold "as-is" with the seller not making ANY repairs, most still allow for a home inspection. This allows the prospective buyer to determine if there are any major problems, and gives them a way to be released from the contract if there's anything they're not comfortable with. Additionally, your lender will require a termite and moisture inspection indicating that there are no active or inactive termite or fungus conditions, or any wood rot associated with high levels of moisture.CLOSE ON a Hampton Roads Foreclosure
How to get to the closing.
The main issues involved with closing on a foreclosure property are making sure you get everything to the Loan Officer that they are in need of, making sure there are no title or ownership issues, and passing the appraisal process. Please keep in mind that, while at times a loan officer's requests for additional documentation may seem repetitive or their requests for clarification may seem like they are being too picky, this is the process you have to go through to get to the ultimate result - your NEW HOME! Your settlement company or closing attorney will do a title search which will verify ownership of the property in order to provide required Title Insurance, and an appraisal will be conducted to verify the value of the purchase offer and that the property is safe, sound and sanitary.MOVE IN!
It's yours! Contact us with questions or comments.
Once everything is verified and all documentation is supplied, your mortgage company's underwriting department will review the loan and give you the "clear to close". They will issue the loan documentation to your settlement company, and provide a preliminary closing statement showing all associated costs to both sides. And finally, your closing date and time will be confirmed. We meet you at the closing to sign the paperwork, and you get the keys! Call us at 757-515-0594 with any questions about the process or feel free to email us at Info@BuyVB.com.
Additional Virginia Beach Foreclosure and MLS Links, including
surrounding areas:
MLS Search Virginia Beach
| Foreclosures in Virginia Beach
VA | Short Sales in Virginia
Beach VA | Homes for
sale in Virginia Beach | Virginia
Beach Real Estate
MLS Listings in Elizabeth City
NC | MLS Listings in Williamsburg
VA | Hampton Roads MLS Listings
| Foreclosures in Hampton Roads
Condos for sale in Virginia Beach
VA | MLS Listings in
Chesapeake VA | MLS Listings in
Norfolk VA | Foreclosures
in Chesapeake VA