Foreclosure Real Estate
Foreclosure homes can be a great investment for the home buyer and professional investor alike. While there are some risks related to foreclosed real estate, many of these properties can be brought back up to their maximum value, and net their owners a decent profit. Finding a foreclosure property that can be easily converted to equity, however, can be a challenge. Many foreclosures are victims of neglect or vandalism, and may require significant amounts of time and money to restore them to their former glory.
Search our real estate listings to find foreclosure properties in the area.
Investing in REOs & Short Sales
REOs, or "real estate owned" properties, are considered to be the safest route for foreclosure investing because the original owner is completely out of the picture, and you only have to deal with the bank. When considering other types of foreclosure such as short sales and auctions, keep in mind that many areas allow the holder of the mortgage to repay the loan and reclaim ownership of the house even after a court-ordered auction. Make sure that you or your lawyer is well-versed in the details of the law.
The best way to make money by investing in foreclosures is to educate yourself. Learn the market value of the property you are considering, know the local foreclosure laws, and know the legal precedents. What you don't know can hurt you, and if you don't have a competent professional aiding you, you could end up losing money. It always helps to have a real estate professional working for your interests.
Contact us to find out more about buying foreclosures.