What to Really Expect When Buying A Bank Owned Property
In recent years, most new buyers wanted to buy a new home from a homebuilder. Today, nearly every buyer I pre-qualify today says the same thing. "I want to buy a bank-owned property." In some counties around the country, foreclosures are at all-time highs. As a result, in today's market, the best deal for homebuyers is quite often the bank-owned property. While many real estate professionals claim their business is off by as much as 60%, agents who concentrate on bank-owned properties are experiencing the second coming of the gold rush. In the Las Vegas, the bank-owned real estate market is somewhat of an unknown. For many years, someone who was on the verge of foreclosure simply listed their home for sale and found a willing buyer to step in and save the day. As a result, many experienced real estate professionals and homebuyers are not as familiar with the process of buying a bank-owned property. Hopefully, this newsletter will help. A bank...