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Short Sales: Understanding a Lengthy Process

The phrase

Foreclosures: What You Need to Know

We get questions every day about buying foreclosure properties so here are some basics to help guide you. It is true that often you can save money by buying a foreclosure property, but before you do it is important to know the risks and enlist a qualified agent to assist you.

What is a Foreclosure?
A foreclosure, or REO (Real Estate Owned), is a property that has been vacated and is now owned by the bank. Generally, most properties are in some stage of disrepair and often need new carpet, paint, and appliances. Some can have much more significant issues such as leaks and structural damage. Expect that you will have to do minor to moderate renovation.

The Buying Process:
In this market the demand for foreclosure properties is on the rise. We are seeing many more multiple offer situations. Don

Beware Foreclosure Rescue Scams

With the recent rise in foreclosures, foreclosure-related scams have exploded onto the real estate scene. These so-called

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