Buying a foreclosure or REO (Real Estate Owned) property before it is available on the local multiple listings services is not easy insofar that the banks want to obtain the highest and best price for their REO properties.

Buying an REO, Foreclosure, Burlingame, Real Estate Agent



After the bank recovers the property through a foreclosure process, they hire local real estate agents to market and sell their property. Usually the banks want to market the property listing 8 to 10 days before they start entertaining offers.


Buying a REO, Foreclosure, San Bruno, South San Francisco, Pacifica, Real Estate Agent
The banks want to make sure their properties have been properly marketed and thereby listed on the city's local MLS so it can be exposed to potential buyers and investors in the area. They expect to recover as much revenue as possible in order to mitigate their losses. So, buying an REO property from the bank after it has been foreclosed is not that simple.

After property has been repossessed from the borrower through a foreclosure, the banks do not retail the property to an individual or investor, rather they hire local agents to sell their REO properties. However, one thing they will do is sell property in bulk. In this case, they package 10 to 20 properties and sell them to investors or nonprofit organizations.

Mayra Espinosa Short Sale Agent, San Mateo County

Mayra Espinosa-Realtor-Short Sale Expert
CDPE|SFR|HAFA Certified

 

Foreclosure(REO)/Short Sale Certified Realtor

McGuire Real Estate
360 Primrose Road
Burlingame, CA 94010

Cell: 650-996-8961

Visite my Short Sale Website: http://www.sanmateoshortsale.com. Website: http://www.mycalhomes.com 

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Active Rain Referral Short sale agent san mateo Buying an REO, Foreclosure, Burlingame, Real Estate Agent short Sale REO, Foreclosure, Hafa, CDPE San Bruno, South San Francisco, Pacifica, Real Estate AgentShort Sale, REO, Foreclosure, Burlingame, Real Estate Agent


IMPORTANT NOTICE:McGuire Real Estate, Mayra Espinosa is/are not associated with the government, and it services have not been approved by the government or the consumer’s lender. Your lender or mortgage servicer may not agree to change your loan and/or agree to a Short Sale. If you stop paying your mortgage, you could lose your home and damage your credit rating. You can stop doing business with McGuire Real Estate at any time. You can accept or reject any offer McGuire Real Estate obtains from your lender. If you reject the offer, you do not have to pay the company’s real estate commission as outlined in the listing agreement. There is no guarantee you will get the results you seek from a short sale. McGuire Real Estate does not provide Legal or Financial Advice. Please seek legal counsel. Should you hire McGuire Real Estate you may still communicate with your own lender. McGuire Real Estate will not charge upfront fees under any circumstances to the homeowner.

 
This post has been included in California Real Estate News San Mateo County, CA Real Estate News Burlingame, CA Real Estate News Burlingame Gardens (Burlingame, CA) Real Estate News
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6 Comments on Can I Purchase Foreclosure Before It comes on the Market?

JUN
03
2011
4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

True, I have people ask me this question all of the time.  
10:27pm • #1
191,305 Points Attended Rain Camp

The other question I get from buyers is "I want to buy a foreclosure" they may want to buy foreclosed property (REO) or Pre-foreclosure (Short Sale) property. Thanks for reading!
11:17pm • #2
Localism Sponsor Outside Blog

Mayra - Great Post!...everyone wants a deal and REO foreclosures are great bargains, finding the bargains starts with working with a Realtor that is familiar with bank homes.
11:36pm • #3
JUN
04
2011
872,262 Points Outside Blog Called Shot Master

Mayra - Excellent information and tips on purchasing foreclosures before comes to the market. Thank you for the detailed quality blog.
12:09am • #4
191,305 Points Attended Rain Camp

Thanks Goran and John for reading my blog. Yes, buyers and investors often think they can purchase a foreclosure that is not listed on the MLS. They do not have to compete with other buyers.
4:40am • #5
AUG
01
2011
1,928,671 Points 155 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

That is something that is I think going to change in the future. Especially as more and more banks try to get in to real estate and eliminate agents all together.
1:48am • #6


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Mayra Espinosa 650-996-8961 San Mateo Short Sale Agent/Foreclosures Certified

Burlingame, CA

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McGuire Real Estate |Burlingame CA|San Francisco|

Address: Burlingame|San Mateo|San Francisco|Pacifica|Daly City|San Bruno|Brisbane|Half Moon Bay|Burlingame|Millbrae|San Carlos|, Redwood City|South San Francisco|Atherton|Menlo Park|Belmont|Palo Alto|Santa Clara|Fremont|Hayward|Newark|, Burlingame, CA, 94010

Office Phone: (650) 996-8961

Cell Phone: (650) 996-8961

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8 br, 8 ba, 4,036 sqft
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