how foreclosure.com subscriber Edison da silva saved big
Whether it is preforeclosures or Real Estate Owned (REO) properties, Foreclosure.com is loaded with amazing investment opportunities.
That is the reason so many of our subscribers enjoy financial success in today's hot distressed real estate market.
In fact, we receive regular emails and submissions from our customers who have nothing but good things to say about their experiences on our Web site. It is their success stories
and testimonials that make what we do that much more rewarding.
Below is one such example of a Foreclosure.com subscriber, Edison, finding his dream home through our Web site.
Quick subscriber details
- Name: Edison
- Location: Lake Worth, FL
- Budget: $450,000
- Comparables: $600,000+
- Final sale price: $435,000
- Estimated savings on
Foreclosure.com: $165,000
Edison's Story
Edison and his wife lived in a cute two-bedroom condo in the art district of Miami, Florida, which was seemingly perfect until their small family all of a sudden got a whole lot bigger.
In the span of three years, the couple welcomed two babies into their home, outgrowing their ideal space in the process.
It was sad — but critical — for them to part with their beloved starter home and upgrade to a larger space to provide a better — and more comfortable — life for their children and
collective family unit.
However, Edison and his wife soon realized that the cost of living in South Florida had changed drastically since they bought their first home. And despite a so-called "soft" real estate market, buying a liveable
four-bedroom home in the area was going to cost upwards of $600,000.
Unfortunately for Edison and his wife, their budget was about $450,000 — and even that was stretching it a bit.
After months of house hunting, research and countless Realtors®, the two came to the conclusion that they needed to uncover a bargain if they were going to be able to one day live in the family home of their
dreams and be able to afford it.
Put simply, the "traditional" way of finding a home just wasn't going to do the trick.
That is because the couple didn't have the luxury of waiting and hoping the right deal might come along. In short, the two needed a change of scenery as soon as possible.
Edison took the search into his own hands, scouring the Internet and various real estate sites for his future home. However, most of the sites on the Web featured outdated properties with no contact information,
making it impossible to follow up on the few deals that he did come across.
After a few weeks of searching in vain — with nothing to show for his time or energy — Edison came across Foreclosure.com. And within a week — during the
FREE 7-day Trial, in fact — he found a property that exceeded the family's expectations.
It was in their price range, in a fantastic neighborhood with A-rated schools, and actually more house — five bedrooms (3,200 sq. ft.) — for which they were willing to settle.
In addition, the kitchen was updated with new appliances and granite countertops, new tile floors had just been installed throughout the home, and the property boasted three full bathrooms and a three-car garage.
More important, the lot was one of the biggest on the block with a huge yard for the children to play outside.
With a little research — and help from their Foreclosure.com listing broker, Michelle — Edison and his wife were shocked to learn that that comparables in the area were in the 600K range — just like the rest of
the homes that had been considered up until that point.
The good news was that the bank had the foreclosure property listed on the market for a jaw-dropping $450,000.
Put simply, the da Silva's had found their ideal deal on Foreclosure.com.
Edison later revealed that the two were a little apprehensive about the purchase, however, because it was a foreclosure. And, they had no idea how to go about contacting the bank or submitting an offer
in that situation.
Fortunately, Michelle was "AMAZING." Her contact information was also easy to find on the site and she was super motivated to help Edison and his wife out with all aspects of researching and making
an offer on the home.
She even lined up a title company and mortgage lender — they didn't have to do anything!
In the end, Edison, his wife and their kids moved into the home in just two months after some painting and other maintenance. And the final selling price of the home was $435,000 — about $165,000
less than similar properties on the market at that time.
Talk about an inspiring story. Even better, you could be next!
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