Foreclosures, Bank Owned REOs & Short Sales

There are definitely buying opportunities, but you need to understand how this process works in our area.  These situations happen for a number of reasons, but most recently because good people got into bad loans and now are doing their best to find their way out.

By purchasing one of these properties you can often obtain a great while at the same time alievating the former owner of their situation. As professionals we mediate foreclosure settlements that allow all parties to move on.

Foreclosures:  An item that is a concern at a foreclosure auction is you do not always have the time needed to research issues with the home or any liens that may be recorded against the property.

Bank Owned REOs:  Bank owned REOs simply means "Real Estate Owned by the bank. This type of property is great because it has been cleared of all recorded liens.  Since the bank is not in the business of holding real estate, they will want to sell as soon as possible.

Short Sales:  A short sale is a property sold at a  price that is less than the amount owed against the property. The bank will agree to take a loss on the home because of the belief that the full foreclosure process will be more costly in long run.  Buying a short sale can take slightly longer than buying a bank owned property because the bank has to approve the short sale offer.

Pre-foreclosure investing is one of the best-kept secrets in the real estate financing market today.  Dominating short sales is an essential skill for pre-foreclosure investing. Great deals are available and we can provide you access to them.

Call the LA Beach Living Team direct at: (310) 745-1600 or fill in the web form below to get started.