Friday, December 11, 2009
Bank repossessions – or Real Estate Owned properties (REOs) – are great investment opportunities because lenders are often anxious to sell these foreclosure homes. Lenders don’t want to be in the real estate business. It's not uncommon to buy these properties at 40 percent less than market value! With foreclosures on the rise across the United States, this market is hot, but competitive! If a homeowner defaults on a mortgage, meaning he or she cannot make the mortgage payments, the lender will seek to repossess the home. After the repossession process is complete, the bank owns the property and will try and sell it to recover its losses. Most are listed with local Realtors and acquiring the services of a knowledgeable agent is beneficial in navigating the REO waters. Investing in real estate can be a financially rewarding experience. Whether this is your first real estate purchase or you are a seasoned investor, buying foreclosures, preforeclosures (short sales), bankruptcies, or distressed properties can give you instant savings and equity in your home. Contact Realtor Scott Larson at 608-214-9844. Servicing all of South Central Wisconsin, and nationwide by referral.