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Foreclosures and Bank Owned Properties

By
Mortgage and Lending with Empire Home Loan Corporation/NVA Group, Inc.
Foreclosures and bank owned properties are a hot market these days for many reasons. Unless you've been hiding under a rock you probably know it's a buyer's market! Great deals are to be had! There are a great number of Placer County foreclosures available. The advantage of bank owned properties is that banks don't want to own real estate, because they are penalized for having bad loans on the books, so they discount the property. To read more click here
Michael Ross
Coldwell Banker Residential Brokerage - Beverly, MA
North Shore of Boston

The hard part is educating the Buyer's to this process.  The short sale or foreclosure can be a bit tricky and the risks involved are greater then a traditional transaction.  Not all Banks are realistic and they are ill prepared for the process. I've done 5 shorts/foreclosures and they have been very difficult.

Sep 13, 2007 08:11 AM
Anonymous
Paul van Altena

I like the bank-owned because you don't have to worry about clear title, and also they don't want property on their books! They are a little slow and their title companies they use are not very communicative, but  what a great way to get a deal.

Sep 13, 2007 08:49 AM
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