Defining a Foreclosure!
A Real Estate Owned (REO) property is a real estate that is owned by a lender, bank or mortgage company after an unsuccessful foreclosure attempt. After a foreclosure auction ends unfavorable, the bank tries to sell the property through other auctions or a Realtor by removing some expenses on the home. Typically, Real Estate Owned properties need lots of repair and maintenance and are sought after by real estate investors who pay a low price to compensate for the property's poor condition. However, you do not have to be an Investor to purchase a Foreclosure. Ordinary families are purchasing these properties at a brisk rate.
Buy with caution!
When buying Real Estate Owned property, it is important to keep in mind that counter offers are often verbalized and negotiations can last a long time. Properties are often vandalized and are sold "as is", which means the banks will not fix the problems on the property. It is also important to have help by a real estate Broker or a real estate attorney because the property may have several other offers and you must be pre-approved for financing before placing an offer.
What a "Qualified Realtor" can for you!
A qualified real estate Broker/Realtor who has experience in real estate and foreclosure can help familiarize you with various lenders and mortgage holders. The right real estate Agents, such as us, can provide buyers and sellers with great Real Estate Owned results by handling title resolution, and the entire transaction.
Let's get started in your search!
We have provided a special questionnaire with only 12 questions that will enable us to start your special "Email Drip System" campaign, where we will start emailing you new Foreclosure listings based on your search criteria "just as quick as they hit the market". This is the smart way to find your perfect home, with your custom search criteria. Why look at thousands of properties and then have to "weed out" what you don't want. Just answer questions 1-12 and return the email answers at leemooresr@remax.net. Now to finish the questionaire, just click.............yes, get started!
