Lake of the Ozarks foreclosures can be even more tricky than buying foreclosures in other areas. The added feature of boat docks and waterfront permits, values, and shoreline management issues can make what looks like a great deal a poor choice. Conversely, a deal that may only look average on price might be an absolute steal with a boat dock is included. I have seen deals go both ways, and it has reminded me that there really is no substitute for experience in this situation.
Large banks, national lenders like Fannie Mae and Freddie Mac will use the lowest price agent they can find to list their properties for sale. Many know nothing about the Lake of the Ozarks real estate, and issues such as condo assessments, dock permits, and information on the listing sheet usually contains as much wrong information as it does correct information. You really need a Buyer’s Broker that can handle these transactions and that help you to verify all of this information – above all – DON’T CALL THE LIST AGENT ON A FORECLOSURE! You need representation more than every on one of these deals. Lenders will use their own contracts and addendum, and it is standards for them to load them with penalties of $100 per day that only apply to the buyer, not to them. They will enforce those penalties. They actually have a $10,000 fine they can levee up to a year after closing if you break some of their rules. You need a good, no, a great buyer’s agent like John Garrett for your Lake of the Ozarks foreclosure purchase.
I will be glad to assist you in finding the best deal as your Buyer’s Broker. You will be glad you chose an Broker with 16 years experience in this market, and one that knows how to get to the bottom dollar selling price on foreclosure deals. I will be glad to send you references from my last 5 foreclosure buyers, so you can verify my experience yourself. Lake of the Ozarks Foreclosures.