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REOs and Comparative Value
Article provide by Barry K. Rothman Bank real estate owned (REOs) are sold to buyers in as-is condition. The property is a prior foreclosure. Perhaps the previous owner no longer cared to maintain the property. This fact alone can require the new owner to add significant capital to the cost basis price. Most bank owners don’t want to make repairs or even lower their asking price to compensate for the buyer’s added costs. Although it’s important to negotiate when possible, most buyers of REOs understand they’re going to perform repairs in addition to the purchase price. Transaction Closing The time needed to close the REO property can take at least…
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The Caveats of Purchasing a Foreclosed Home
A foreclosed home may seem like a good deal, but it’s important that you are aware of the multitude of problems that it comes with. Buying a foreclosed home is one of the biggest discounts that you can get on the real estate market. However, there are several caveats, as you might already be aware of, when fulfilling this purchase. If you can bear the difficulties, it may be worth going through all the mess to achieve a successfully redesigned home. Here are some of the major issues when purchasing a foreclosed house. Maintenance There isn’t enough to be said when it comes the maintenance and cleanliness of a foreclosed…
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Maximizing Your Profits When Selling a Home
Article by Pierre Zarokian. Making the decision to sell your home is no easy task, but families do it all the time. There are a variety of reasons: some grow old and want to downgrade after kids have left the house. Others want less house because their budgets have been restricted by recession, and more families are upgrading for nicer schools or because of work. With more millennial home buyers entering the market, there’s a good chance your home will sell reasonably fast. Here are some tips to help you get the most money for it. Improve the Condition of Your Home If you want to make money, you have…
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The Qualities Required to Flip Houses
In order for you to make a profit flipping houses, you’re going to have be prepared, both financially and mentally. It isn’t an easy process and requires time, commitment, and smart decision-making. Now that that’s out of the way, if you’re still considering flipping houses for a profit, make sure to read these tips down below. Skills If you’re handy with a hammer and enjoy dabbing in construction, then you’re already at a huge advantage. By having the knowledge, skills, and willpower to find and fix a house is an enormous commitment of its own. But, you’re also going to have to get down and dirty in order to flip…
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Selling a Home in a Down Market
If you’re looking to sell your house in a cooling real estate market, you’re going to have to enhance its’ attractiveness as best as you can to garner the best price available. Here are some tips on how you can go about doing that. Improve its Look Improving your home’s aesthetics is one of the most important upgrades that you can do to your house. You want to attract as much attention to your house as possible while also making it look better than your neighbors. Consider some upgrades on your windows, doors, or even the backyard. When a prospective buyer comes into your home, they’ll want to feel as…
