As a prospective home buyer or real estate investor, you have many options in your search to find an affordable home. One of those options today is the purchase of foreclosure properties.

Thank you for visiting Joelle's website.  We WELCOME all types of home buyers and investors! BUY BELOW MARKET and reap the rewards of real estate investing or home ownership.  There is no better time than the present! Take advantage of low mortgage rates and the amount of bank properties available!

 Call Joelle Coughlin Direct: 516-473-3692

REO/Bank owned properties are currently available in Long Island. Bank owned foreclosed properties can be a good value when purchasing a home and will sometimes provide instant equity at closing depending on the purchase price. 

Foreclosed and bank owned homes in excellent and very good condition are generally ready to move into, while homes in lesser condition may need some repair or updating. 

Foreclosures are sold in "as is" condition, meaning the selling institution will not make repairs to the property.  Before shopping for a foreclosure or bank owned property that may need a TLC it is suggested that you take the time to meet with your mortgage lender to determine the types of construction or renovation financing available to you in the event that anything more than cosmetic repairs are needed. 

Unless you are making a cash offer (with proof of your funds), most selling institutions will not even consider your offer without a preapproval letter from your mortgage lender or bank.  Keep in mind that banks will not consider predicated or contingent offers!  If you have a home to sell first, buying a foreclosure will not be an option unless you can qualify for both mortgages.