These type of properties are probably the most misunderstood peices of real estate ever. It can either mean a chance at massive returns on investment or a result of financial ruin. Down below you wil find a few key important facts on foreclosed properties and how you can get access to them.
A lot of times buying a distressed property can be very hard because of the family that is usually facing the financial stress that comes from losing their home.
This is why many buyers choose to do business directly with the bank. Making the proccess more predictable and non-emotional.
Buying a foreclosure is not as simple as you think... Many banks are either looking for 1 of 2 things.
1. To get full market value in order to recoup all the money they lost in the original transaction.
2. While other banks are more worried about just getting rid of it, to liquidate their REO inventory. Because non-performing assets have a huge backlash effect on their books.
To be effective at the buying process with a foreclosure, takes having relatioships with the asset managers and REO officers. This allows you to find out which lenders are most motivated to give you a bargain of a lifetime.
This is where we come it...
We have over 10yrs of experience in dealing with REO officers. During that time we have established very solid relationships with the major lenders.
If you are a investor or buyer looking for foreclosed or lender owned properties, click here to contact us.
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