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Beaverton Oregon Real Estate: Investing in Foreclosures


The foreclosure process represents three bargain-buying opportunities. 

     Pre-Foreclosure (NOD, LIS): Buying a property in pre-foreclosure involves approaching the borrower/owner and offering to buy the property. The borrower/owner can walk away with something to show for any equity in the property and avoid a bad mark on his or her credit history. The buyer has time to research the title and condition of the property and can realize discounts of 20-40 percent below market value.

     Auction (NTS, NFS): If the loan is not reinstated by the end of the pre-foreclosure period, potential buyers can bid on the property at a public auction. Buyers often are required to pay cash at the auction and may not have much time to research the title and condition of the property beforehand; however, a public auction often offers some of the best bargains and avoids the unpredictability of dealing directly with the borrower/owner.

     Bank-owned (REO): If the lender takes ownership of the property, either through an agreement with the owner during the pre-foreclosure or at the auction, the lender will usually want to re-sell the property to recover the unpaid loan amount. The lender will probably make sure the title is clear for any buyer, but the potential bargain is typically less than a pre-foreclosure or auction property.

     Before you buy: You'll need to make sure you're armed with the resources you'll need to buy foreclosed properties. Please contact me if you are interested in this unique way to save money and buy investment properties.

 

Respect Realty LLC (Expect More)

 

At Respect Realty, LLC our agents believe in 100% dedication to client satisfaction.  We specialize in property and land acquisition around the Portland Metro and Vancouver, WA area. We delight in working with first time home buyers and sellers to guide them from start to finish. Our doors are always open and we are always happy to assist you with your real estate questions.

 

Reach out today, we look forward to talking with you!

 

Todd Clark and Seraina Aguayo (Owners of Respect Realty)

Respect Realty LLC (Expect More)

(503)564-3130

info@RespectRealtyNW.com

www.RespectRealtyNW.com

 

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Comment balloon 2 commentsRespect Realty LLC • April 15 2007 02:23AM
Beaverton Oregon Real Estate: Investing in Foreclosures
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