Short Sales/Foreclosures
Short Sales
Since short sales became mainstream within the last three years it has made it easier for investors to find opportunities to invest in "flippable" properties. However with daily changes in banking requirements the short sale investors requires agents who fully understand the genre.
For the novice investor, a short sale is when a bank accepts less than what is owed on a property, including all related closing cost thereby creating a "short."
There are many factors to consider when pursuing short sales and having a knowledgeable PROMRE agent on your side will enable you to make an informed decision. In addition to helping you to identify potential opportunities based on your criteria we can also help you with the negotiation process. We also have on staff certified appraisers to assist with your valuation needs.
Please contact us for a personal consultation.
Foreclosures
Foreclosures or REO's (Real Estate Owned) are properties the bank has completed the foreclosure process and now owns. Generally speaking these are properties that will have mulltiple offers and the bank will respond to with in a short time frame. It is very important to understand all aspects of the process to insure you are bidding effectively.
It is equally important to identify these properties immediately as they are often listed below market value and are under agreement within days. PROMRE agents are well versed in multiple offer situations and are ready to guide you through the process.
Please contact us for a personal consultation.
