|
|
 |
|
home |
About Foreclosures
| |
About Foreclosures
This section is designed to cover the various types of foreclosure related subjects. These sections will discuss financing pertaining to foreclosures as well as covering definitions and directions when it comes to HUD-owned homes, VA homes, REO properties, Trustee Sales and other distressed sales. This information is a collection of first hand experience from many experienced professionals. However, we are not attorneys or CPA's and will have to encourage you to seek the advice of those professionals on matters relating to their expertise. This information is provided as first hand experience encounters and is solely our opinion. If you are interested in selling foreclosures and distressed properties, it is vital to understand the financing guidelines as it pertains to condition and buyer requirements so your time is not wasted and your buyer becomes discouraged. Buying foreclosures and short sales has their own individual pitfalls and rewards and it is pertinent to understand as much as you can to better assist your Seller or Buyer with adequate information.
|
FAQ
FAQ's are being added weekly to this page. If you have any questions or comments on this subject, please email them so we can share them with everyone.Email below FAQ list. . . . Keep Reading
|
Selling HUD-Owned home training
C & S Bishop
HUD-Owned homes are one of the best tools for real estate agents to make money and increase your pool buyers that require your services. There is a buzz around these homes as being great values with benefits to buy them. And it is true, HUD from time to time offers buyers great incentives. These incentives are usually an FHA loan with a low downpayment (i.e. $100) and monetary incentives, sometimes as much as $2,000. These video's will show you some of the information you need to know to sell these homes. . . . Keep Reading
|
How to utilize VA Vendee Financing
S. Bishop
VA properties are back and full of life for the agent that wants to be profitable. VA Vendee is a fabulous way for agents to look like a hero to their buyers. Try "Zero" down along with a 4.5% rate for owner occupants and a 5% down 4.5% rate for investors. . . . Keep Reading
|
Home Inspection Checklist Items
C. Bishop
For a buyer, home inspections are necessary and worth the expense whether you are buying a foreclosure or a regular resale home. An experienced and thorough home inspector will detect problems that might escape the notice of a less experienced person. . . . Keep Reading
|
Hard Money--Yes or No?
Bishop
Hard money is money secured by the real estate that is being purchased. This type of loan is offered by private individuals or business concerns who will loan you the money needed to buy a property even when you don't have a cent to put up yourself. . . . Keep Reading
|
Does Your Contractor Have a License?
When you want to make repairs to a newly purchased property, you are faced with the decision of picking a reliable contractor to do the work before you resell it or make it available for rental. You, of course, want to keep the costs down as well as make the repairs that will get you the fair market value that you originally calculated in your profit formula. So, you need to find one at a fair price who will do the work as you specify. . . . Keep Reading
|
HOW TO AVOID THE PROBLEM SETTLEMENT
Craig & Teri Buck
You can prevent problem settlements. In almost every case, the settlement takes a turn for the worse because of a surprise. Someone wasn't prepared. Avoid the surprise and you evade the problem. You must remain in control at each stage of the listing, contract and settlement process. . . . Keep Reading
|
How Foreclosures Are Sold for Investors
Bishop
Many people believe that the only way to purchase a foreclosure is via the traditional sheriff's auction. Although the sheriff's auction continues to be a favorite venue for selling foreclosures, there are actually several other ways that foreclosures can be purchased such as properties which are for sale to prevent foreclosure, bank-owned properties, and general auctions. . . . Keep Reading
|
THE FORECLOSURE TRIFECTA
Bishop
Contrary to what many people believe, the traditional foreclosure sale which takes place on the courthouse steps is not the only way to buy foreclosed properties. There are several other ways to find excellent foreclosure deals including pre-foreclosure sales, sales of REO properties, and auctions. . . . Keep Reading
|
Are There Drawbacks to Purchasing a Foreclosure?
Bishop
Buyers who invest in foreclosed homes do so generally because of the lower purchase prices associated with such properties. But, purchasing a foreclosure isn't for everyone. There are several factors which need to be considered before investing in a foreclosure. . . . Keep Reading
|
THREE FORECLOSURE BUYING MISTAKES
C. Bishop
With the housing market in crisis and the number of foreclosures on the rise across the U.S., now is the time for anyone interested in buying foreclosures to do so. . . . Keep Reading
|
1031 Tax Free Exchanges
Craig & Teri Buck
You must pay tax when you sell property for a profit. There is a real advantage if you can pay the tax years in the future. . . . Keep Reading
|
|
|
Class schedules by month
