Clarkston Foreclosed Homes For Sale

Clarkston Michigan is a fantastic community located within striking distance of Great Lakes Shopping Center and is conveniently located near multiple freeways providing reasonable commutes to other areas. For detailed information on Clarkston Michigan Click Here

Below find all the Clarkston Michigan bank owned homes for sale including Fannie Mae, Freddie Mac, HUD homes and more. Below that are any short sales and then all available Clarkston homes for sale. This includes any estate sales, distressed sales, quick sales and more! For additional questions on any homes or neighborhoods call 248-221-1224 or email Michaelperna@kw.com and a member of the Michael Perna Team will be more then happy to help!

Clarkston Foreclosures

All Listings $100,000 - $200,000 $300,000 - $400,000
New Listings First
2 Properties Found.

Homes for Sale in Independence Twp, MI

3020 Mann Rd

$144,000

Independence Twp, MI
3 Bed, 1 Bath, 1188 Sqft, 0.53 Acres
Residential

Homes for Sale located at 4597 Clarkston Rd, in the city of Independence Twp, MI 48348

4597 Clarkston Rd

$355,000

Independence Twp, MI
3 Bed, 3.1 Bath, 3492 Sqft, 3 Acres
Residential

 

2014 Independence Twp Bank-Owned Homes Sold

      213083295 SOLD RS 02081 5052 Mary Sue Avenue Independence Twp Oakland $56,000 N/104/148 4 1.0 1,639                    
      214014610 SOLD RS 02081 6395 WATERFORD HILL Independence Twp Oakland $95,000 N/28/28 4 2.0 2,009                      
      213111922 SOLD RS 02081 5425 Cecelia Ann Avenue Independence Twp Oakland $115,000 N/85/115 4 3.0 2,143                      
      213105948 SOLD RS 02081 8200 Morningstar Drive Independence Twp Oakland $115,500 N/165/165 4 3.1 2,250                      
      214034557 SOLD RS 02081 6126 SNOW APPLE Drive Independence Twp Oakland $121,000 Y/106/106 3 2.0 1,299                      
      213206215 SOLD RS 02081 6998 CRANBERRY LAKE Road Independence Twp Oakland $137,500 N/32/32 3 1.1 1,693                      
      214056036 SOLD RS 02081 4644 2ND Street Independence Twp Oakland $138,000 N/17/17 3 2.1 1,669                      
      214055059 SOLD RS 02081 5219 BRONCO Drive Independence Twp Oakland $151,000 N/9/9 3 2.1 1,622                      
      214080585 SOLD RS 02081 10391 HORSESHOE Circle Independence Twp Oakland $161,000 N/19/19 3 3.0 2,106                      
      213205004 SOLD RS 02081 6733 BALMORAL Independence Twp Oakland $173,100 N/10/10 4 2.1 2,033                      
      213110233 SOLD RS 02081 7893 Mount Tremblant Trail Independence Twp Oakland $202,500 N/124/159 3 2.2 2,059                      
      214089692 SOLD RS 02081 6430 GOLF VIEW Drive Independence Twp Oakland $207,000 N/82/82 4 3.1 2,500                      
      214020879 SOLD RS 02081 5995 SPRING MEADOW Court Independence Twp Oakland $240,000 N/35/35 4 2.1 2,421                      
      214006267 SOLD RS 02081 6808 OAKHURST RIDGE Road Independence Twp Oakland $308,460 Y/120/120 4 3.1 3,330                      
      214036474 SOLD RS 02081 5084 WESTCHESTER Court Independence Twp Oakland $535,000 N/52/52 4 4.1 4,672                      

 

Checklist For Buying A Bank-owned Home In Clarkston MI

1. INSPECT PROPERTY

Most foreclosure properties are referred to by investors as “distressed” properties. Bank-owned foreclosure homes are usually sold “as is,” which means that the 15 percent discount you just saved on the purchase price can easily be eaten up by unforeseen expenses — such as repairs not immediately apparent in an exterior inspection. Many owners of homes that go into foreclosure have been struggling financially, which usually means that the house has not received needed repairs or general maintenance for a while. Some homeowners who lose their property to a lender frequently damage the property. So be prepared to do renovations and repairs. Hire a licensed home inspector to give you a written estimate of the cost to repair the property. Budget that number into your purchase price. Repair costs can be used later in your negotiation with the bank to reduce the asking price.

2. TITLE SEARCH

Once a home has been located, search the public records for liens and outstanding taxes. You can perform a preliminary check of title on RealtyTrac and then hire a title company to run a full, insured title search before closing the deal. Liens on the property can drive up the purchase price. Common liens typically are placed on a property for unpaid loans borrowed against the property, taxes or unpaid contractors (mechanics liens). These liens remain intact until the money is paid, which means that you may have to pay off the liens on the foreclosed property you are buying — even though you’re not the one who didn’t pay the property taxes. Banks should clear the title before selling but never assume this is the case — just as you would if you were buying a property from anyone else.

3. NEGOTIATE

Investors should be prepared to negotiate a lower down payment, a lower interest rate, a reduction in closing costs and a lower asking price. Many lenders may be willing to waive some closing costs, maybe even offer a break on the interest rate or the down payment. Moreover, some lenders might offer to finance the property at a below-market rate or with a lower-than-usual down payment. Don’t be afraid to ask for a better price and favorable terms.

4. THE OFFER

Although most banks want to unload their foreclosed properties, they won’t necessarily do so cheaply. So you aren’t guaranteed a fabulous price. But remember you’re dealing with an eager seller. Even though the bank’s REO manager or their listing agent might suggest that the list price is “firm,” never be afraid to negotiate price — especially if the foreclosed bank-owned home needs repairs. When submitting a low offer, you need to substantiate the reduced price in writing and document your case. You should furnish photographs and cost estimates for repairs to support your offer amount.

5. FINANCING

With good credit, many banks will loan the full price of the foreclosure or more. If the home is to be used as a rental, many banks will require only a 10 percent down payment. Foreclosure investors with a large amount of equity in another home may get a line of credit from their bank to purchase a foreclosure. When they convert the line of credit to a mortgage, no down payment may be required.


 VIEW ALL CLARKSTON HOMES HERE!

IDX provided courtesy of Realcomp II Ltd., via Keller Williams Realty, Copyright 2019 Realcomp II Ltd. Shareholders. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.