Category: REO

What are the Advantages of Buying Distressed Properties?

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There are several types of distressed properties that potential buyers might include in their housing search options and each has its own distinct benefits. Here we’ll take a look at various types of distressed housing and the advantages that come along with them. Pre-Foreclosure/Notice of Default (NOD) Seller will be motivated for a fast sale, … Continued

What you Need to do Before Buying a Short Sale

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Buyers pursue short sales for two primary reasons: firstly, they genuinely like the house and secondly, to get a good deal. The biggest drawback to this type of transaction is the time it takes to close – the term “short sale” is a bit misleading in this regard. But if you’ve got a flexible timeline, … Continued

The Good and Bad Sides of Buying a Distressed Property

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In densely populated areas or markets with a lot of competition, would-be home buyers often add distressed properties to their searches to help expand their housing options. Distressed properties can be a great value and investment, but it’s important to understand what you’re in for if you go this route. Let’s start off by examining … Continued

5 Things to Do Before Making an Offer on Distressed Property

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In any real estate transaction, buyers must be prepared to do a little due diligence before putting an offer in. This is especially true of distressed properties. If you’re considering a foreclosure, short sale, or bank-owned property make sure to follow the tips below for a more positive experience. 1) Find yourself an agent who’s … Continued

6 Things to do if You’re Considering a Distressed Property

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  Buying a distressed property (foreclosure, short sale, or bank-owned home) can be a great investment for first-time buyers, but the better you understand the process, the better your experience will be. Below are 6 must-do’s before you make an offer on this type of property. 1) Never buy anything without seeing it first  -It … Continued

3 Advantages to Purchasing a Distressed Property

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While distressed properties aren’t as abundant as they were after the housing crash in of 2007 – 2008, these types of properties are still relatively easy to come by and, if you know what you’re in for, can be a great value. Especially in areas where affordability concerns run rampant. Should you consider a distressed … Continued

Steps for Buying a Real-Estate Owned Property

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An REO (real estate owned) property is a foreclosure that did not sell at auction and ownership has transferred to the bank or lender. These types of properties are attractive for several reasons. In many cases, lenders are motivated sellers who do not want to sit on their REO inventory, and (depending on the bank’s … Continued

3 Reasons to Consider Buying a Distressed Property

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Aside from increasing your housing options, considering distressed properties additional benefits as well. In areas where affordability is low and choices are limited, buyers – first timers or not – may be surprised at the advantages of considering distressed homes. Distressed homes that are for sale not because the owner wants to sell, but because … Continued

Why You Should Consider Buying a Bank Owned Home

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If you’re considering distressed properties in your home search, chances are you’ve heard of several types including foreclosures, short sales, and bank-owned or real-estate owned (REO) homes. It’s possible to get a great deal on distressed properties, but REO properties, in particular, come with a unique set of benefits. Read on to see if this … Continued

Financing Options for HUD Homes

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Expanding your home search options to include HUD homes can open a world of possibilities, especially in areas where inventory is low and demand is high. A HUD home is when a government-insured loan from the Federal Housing Administration (FHA) gets foreclosed and the Department of Housing and Urban Development (HUD) pays the defaulted loan … Continued