Understanding Foreclosure
Everyone has interest of finding a bargain, and real estate foreclosures and short sales are often seen as a good buying opportunity, particularly by people looking for their first home, or investors seeking a good deal. If you're considering buying a distressed property for your family or as a real estate investment, the pre-foreclosure period might be the best time to make your purchase. A number of benefits make buying foreclosure homes before auction the most appealing alternative, among these are the buyer's ability to evaluate, inspect, and negotiate.
The foreclosure market offers today some of the best opportunities in real estate.
Foreclosure properties can be a more affordable option than traditional properties. It is possible to save from 10 to 30% of the market value, and certain properties offer savings of 50% or even more. Buying a foreclosure property can be an excellent way to save money on the purchase of a home or property, but it is not without risks. The key to success is to be very well prepared and be sure to understand the process.
Finding the best deals requires research, market analysis and a great deal of time reviewing all of the properties.
With my services, finding and buying a foreclosure saves you time and money!
If you are about to be in foreclosure; contact Raffaele… there are options available to you! Act quickly in order to stop the foreclosure process. If you are already in foreclosure, you may still have options, but as time passes these options become more limited.
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Boca Raton FL. |
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| IMPORTANT DEFINITIONS |
FORECLOSUREForeclosure is the legal proceeding in which a bank or other lender sells or repossesses a real property due to the owner's failure to comply with a mortgage. Typically, foreclosure is caused by owner's failure to pay the mortgage payments, but the default to perform any requirements of the mortgage may also cause foreclosure, like the failure to pay the property taxes. |
MARKET VALUEMarket value is the most probable price which a property should bring in a competitive and open market under all conditions requisite a fair sale, the buyer and the seller each acting prudently and knowledgeably; and assuming the price is not affected by undue stimulus. |
AUCTIONThe process of selling property at a public sale to the highest bidder. The person conducting the sale will call out the initial asking price and each price that anyone in the audience bids until no one will bid a higher price. | ||
REO PROPERTYREO stands for Real Estate Owned. REO is a term which refers to a property that is owned by and in the possession of the lender as a result of a foreclosure. |
SHORT SALEA Short Sale is a legal, lender-approved solution to help financially strapped homeowners to get out from under their mortgage obligation. |
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