Foreclosure/Bank Owned Properties

A foreclosure property is a property where the owner (borrower) has defaulted on the loan and the bank (lender) has taken ownership of the property through the foreclosure process. So the original owner is now out of the picture and the new owner, the bank needs to sell the property so they can convert the money invested back into a good performing loan. In any market foreclosures represent an opportunity to get into a property with "instant" equity. But be careful, this isn't always the case. As financially strapped borrowers fall behind house maintenance becomes pretty low on the priority list for spending. Especially once it's clear they are going to lose the home. So, most bank owned properties need work, some a little and some LOTS! Of course the bank wants to get all of it's money back out, including all of the legal fees they incurred in taking ownership, as well as the fees associated with selling the property. Which in most cases puts the amount owned well over the current "as-is" value of the home. There-in lies the problem.

Understanding the process and how to work with the banks is key to turning these properties into "good deals", which can and does happen, although not every time. Working with these types of properties is one of our specialties. We understand how to find them and how to turn them into deals.

Let me show you these great deals! I will put together a list of the foreclosures in your desired area and send it to your for review. If you think you want to make a move within the next 6 months I'll also send you a weekly update. If you feel you're father out than 6 months weekly updates will be too much, so I'll just send the snapshot. You can ask for a new snapshot anytime.

To receive your FREE list of the current bank owned properties simply fill out the form below. Don't forget to indicate your desired area and price range.