Investment Properties and Foreclosures |
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HUD PROPERTIES-Our firm is registered with HUD to help our homebuyer clients and investors access HUD properties.
There haven't been many HUD foreclosures in the last five years, but this may change. We're always checking. OTHER BANK FORECLOSURES-We're constantly checking the market for new foreclosure listings for you. FIX UP PROPERTIES-We know how to find them. Sometimes it may take a while to find the right one, but we'll find it for you. We don't put any deals in front you that we wouldn't buy. We have some good lenders and strategies that have worked well for our investor clients. Call us about getting financed for your next project. OFF MARKET LISTINGS-We have a strong network of other real estate investment finders that help us find investment properties that aren't listed on the MLS. INCOME AND COMMERCIAL PROPERTIES-Find larger investments, commercial real estate and development opportunities. Fill out our short form to access distressed properties as they become available. |
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Denver Foreclosures (and surrounding areas)
Before we dive into it, it’s important you understand what foreclosure is. Foreclosures in Denver are a result of a homeowner defaulting on their mortgage and the bank exercising their right to take the property back to sell to recoup their loan amount and costs. Most people think that banks are just giving homes away for cheap, but the banks will always try to get as much as the market will bear. One of upsides of foreclosures in Denver is that banks not emotional in their decision when pricing a home for sale.
Larger banks will hire asset management companies to help sell their foreclosure inventory. The asset management companies will hire agents in their network that specialize in the area where the foreclosed home is located to list and sell the property or some of the homes go to auction, where bidders are required to pay cash and usually will need to buy the homes sight unseen.
Buying a foreclosed property can be a smart investment. It could also be a mistake. It’s important to make sure you complete all inspections and research values before you decide. Some foreclosures happen because of property defects that the previous homeowner didn’t want to face, or repairs that they couldn’t afford.
If you are considering Denver foreclosures, our agents can guide you further and help you get all of the right information to be sure that you are making a good investment. Foreclosures in Denver are scarce right now (even with HUD), but if they’re out there, we’ll help you find the best deals.
Denver foreclosures also include HUD properties, which are a result of a homeowner defaulting on their FHA mortgage. HUD will try to get as much as possible for their foreclosed homes just like other banks.
When you hear, "REO", it is just another way to describe a foreclosure. The acronym stands for Real Estate Owned.
It is possible for a foreclosure to be overpriced, despite the common belief that foreclosures are cheaper than traditional listings. The banks and their asset managers rely on appraisal reports and Broker Price Opinions when determining a listing price, and sometimes the reports contain information that may suggest that the property is worth more than fair market value. The appraiser may include the wrong comparables or an agent may include higher sales from properties that were larger than the foreclosed property they're evaluating.
An agency that is seasoned with foreclosures and REO will help you figure out what the home is worth, tell you how long the property has been on the market (banks do not like properties sitting on the market and consider homes that aren't selling within a certain amount of time as "aged assets") and help you come up with a good offer price for you. Sometimes it isn't unreasonable to offer $100,000 less than the offer price if the offer can be supported by recent sales in the range you are offering in.
We're foreclosure/REO experts in Denver and surrounding areas! Call us today to see if there are any foreclosures becoming available in the areas you'd like to purchase property in.
Before we dive into it, it’s important you understand what foreclosure is. Foreclosures in Denver are a result of a homeowner defaulting on their mortgage and the bank exercising their right to take the property back to sell to recoup their loan amount and costs. Most people think that banks are just giving homes away for cheap, but the banks will always try to get as much as the market will bear. One of upsides of foreclosures in Denver is that banks not emotional in their decision when pricing a home for sale.
Larger banks will hire asset management companies to help sell their foreclosure inventory. The asset management companies will hire agents in their network that specialize in the area where the foreclosed home is located to list and sell the property or some of the homes go to auction, where bidders are required to pay cash and usually will need to buy the homes sight unseen.
Buying a foreclosed property can be a smart investment. It could also be a mistake. It’s important to make sure you complete all inspections and research values before you decide. Some foreclosures happen because of property defects that the previous homeowner didn’t want to face, or repairs that they couldn’t afford.
If you are considering Denver foreclosures, our agents can guide you further and help you get all of the right information to be sure that you are making a good investment. Foreclosures in Denver are scarce right now (even with HUD), but if they’re out there, we’ll help you find the best deals.
Denver foreclosures also include HUD properties, which are a result of a homeowner defaulting on their FHA mortgage. HUD will try to get as much as possible for their foreclosed homes just like other banks.
When you hear, "REO", it is just another way to describe a foreclosure. The acronym stands for Real Estate Owned.
It is possible for a foreclosure to be overpriced, despite the common belief that foreclosures are cheaper than traditional listings. The banks and their asset managers rely on appraisal reports and Broker Price Opinions when determining a listing price, and sometimes the reports contain information that may suggest that the property is worth more than fair market value. The appraiser may include the wrong comparables or an agent may include higher sales from properties that were larger than the foreclosed property they're evaluating.
An agency that is seasoned with foreclosures and REO will help you figure out what the home is worth, tell you how long the property has been on the market (banks do not like properties sitting on the market and consider homes that aren't selling within a certain amount of time as "aged assets") and help you come up with a good offer price for you. Sometimes it isn't unreasonable to offer $100,000 less than the offer price if the offer can be supported by recent sales in the range you are offering in.
We're foreclosure/REO experts in Denver and surrounding areas! Call us today to see if there are any foreclosures becoming available in the areas you'd like to purchase property in.
