Looking to capitalize on the foreclosures appearing on the market due to the subprime mortgage crisis? Savvy investors and buyers who have been waiting on the sidelines for a market correction may finally be ready to dip their foot in the real estate pool.
As the threat of a national economic slowdown—or worse yet, a full-blown recession—looms on the horizon, now may be the perfect time to purchase discounted properties that have gone through the foreclosure process. These bank-owned homes are one opportunity many home buyers should consider taking advantage of, but unfortunately, a lack of understanding about the process of buying these REO properties prevents many from even considering them.
Having developed close relationships with the real estate agents who are listing these foreclosed properties, Richard Burt is in the enviable position of being able to see how the entire sales process for these REOs works—fom the time the bank-owned property is assigned to a listing agent through to the completion of the sale to a new owner.
By working with Richard, buyers who are new to the process or who want an agent who can maneuver the challenging buying process most banks establish—which is quite different from the normal home buying process—will have an advantage over others bidding on these foreclosures.
In addition to having an intimate working knowledge of the foreclosure sales process, Richard also has a remarkable eye for the promises and pitfalls of properties. “Having bought and sold investment properties myself for several years, I’ve developed a skill for gauging the improvements necessary to turn a distressed property into one with tremendous curb appeal. Even better, I can help clients understand if the costs needed to overhaul a foreclosure represent a good return on their potential investment.”
If you’re ready to explore the opportunities available in foreclosures, contact Richard through email or by calling (818) 203-9797.
