Bank Owned Oakland Real Estate is Everywhere
Posted Dec 10, 2007 @ 8:03 pm, Viewed by 407 Visitors, Read 440 Times.There is a glut of Bank Owned Properties in Oakland surrounding areas. It's interesting to see how almost every single bank-owned home is in need of some serious cosmetic TLC. I've seen some the weirdest paint colors, mysterious holes and missing appliances in Bank Owned homes. However if the buyer doesn't mind giving the place a little tlc then there are definitely some decent deals out there. It's not that every Bank Owned property is in disrepair, but I guess I've just seen a lot of them recently. Many times the Banks will have the buyer sign separate addendum forms to make sure the buyer knows that the Bank will not pay for any work that is needed and that it is an "as-is" sale.
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Yes, there are so many on the market that there are bound to be some which are in good shape.
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Hamid Grinage is a Realtor with the Grand Lake office of Prudential California Realty in Oakland. He is E-Certified, a graduate of Sonoma State University, and a member of the National, California and Oakland Association of Realtors.
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There seems to be plenty of bank owned properties that need TLC here as well, but a suprising number that are in near perfect condition. The banks also seem to be pretty motivated to just get the homes sold and most are very flexible with the price and will help with closing costs.