Everyone wants a good deal when purchasing real estate. And if the purchase is for investment purposes, then it is even more important to find a deal. But most buyers don’t know where to look for these reduced prices. The assistance of a real estate agent is helpful and a must. But you must also be open to another option that can save you even more. Purchasing a foreclosed property can save you as much as 50% off on the initial purchase price. But there is more to making a profit from purchasing a foreclosed property than just finding the listing.
A foreclosed home listing is a guide to all of the properties in the area that are for sale through a lender. They are the result of buyers who have defaulted on their mortgage and forced the lender to take possession of the home in an effort to recover their money. Because the bank is only interested in recovering the remaining balance of the mortgage, they can sell the homes for less than or sometimes even far less than fair market value. Their main goal is to sell the house quickly and recover their money, not to make additional money. Buying directly from a lender or going to a foreclosure auction is a great opportunity to purchase a house at a price much below its actual value.
Obviously, these sales do not occur every day, so the best way to learn about the process and have early knowledge of the sales is to hire a team that specializes in foreclosure sales. Visit www.azrealestatewholesale.com to learn about their services and how they can help you to buy a property at a drastically reduced price. With access to single family homes, multi-unit properties and commercial buildings, you can determine which type of property will be best suited to your needs. Not only will they explain the process of the purchase but they will also be able to provide advice on desirable areas to purchase in, what to look for in a foreclosure property and most important, what to avoid when considering a foreclosure property. Having a reliable professional to guide you through the buying process can make your first foreclosure purchase a very successful real estate investment for you.