Distressed Properties Make Up A Large Percentage of the Homes for Sale Today. They Represent Some Of The Best Values In Real Estate.
In recent years, many homes are being sold by banks and lenders which have foreclosed on homes or by consumers who are required to sell their homes for less than is owed to the bank (this is called a “short sale”). Often these properties provide an excellent opportunity for a purchaser to save thousands of dollars when buying their new home.
Foreclosures (also called REO properties) are offered for sale by individual lending institutions (banks and asset managers) as well as several government or quasi-government entities.
The Department of Housing and Urban Development, more familiarly known as HUD, offers a wide variety of homes for sale in an on-line auction format that can only be accessed by approved licensed real estate professionals. Rent1 Sale1 Realty has been approved to administer these transactions.
Fannie Mae and Freddie Mac are both quasi-federal agencies that insure loans. As a result they have a significant inventory of foreclosed properties that they offer for sale in a controlled disbursement format. There are many nuances to navigate when purchasing one of these homes and utilizing a trained professional will make the process easier. Rent1 Sale1 Realty offers its agents a constant flow of information to assure they are well apprised of the latest requirements.
Individual banks and asset management companies also sell properties they have foreclosed upon. Each has their own detailed requirements and methods of sale. Here again, an experienced, well trained agent can make the process less painful.
An additional type of distressed property is a short sale. This format is almost a pre-foreclosure transaction. The traditional home owner coordinates with their bank in an effort to sell their home at a price below the amount owed.
Rent1 Sale1 Realty can provide you with access to every REO and Short Sales available.
By completing the following, you’ll be able to search all distressed properties.