| Foreclosures are everywhere, in all neighborhoods, | | | | However, the cream of the crop goes quickly; submit |
| sitting, waiting, vacant, and when these foreclosures | | | | your contract immediately because there are not any |
| officially hit the market, the best will be gone before | | | | second chances. |
| sundown. They are the REO, also known as Bank | | | | 3. Clear & Clean Title: |
| Owned property; and they are the investor's golden | | | | The foreclosure process eliminates all liens, judgments, |
| dream. | | | | association dues, and taxes. It reduces the risk of any |
| The large amount of foreclosures in today's market | | | | title problems and produces an easy transfer of |
| has created opportunities that have never existed | | | | ownership. |
| before in real estate. These Bank Owned properties | | | | 4. Vacant & Ready to Go: |
| (REO) offer many financial advantages while lowering | | | | The property will always be vacant; the previous |
| the risk associated with the purchase of a foreclosed | | | | owners have moved out or the tenants have been |
| property. | | | | evicted. The property is immediately ready for rehab, |
| 1. Instant Equity: | | | | rent, sale, or home ownership. |
| Almost all foreclosed properties are offered below | | | | 5. Timely Manner: |
| retail value which creates instant equity and instant net | | | | Plenty of time can be given for the investor to |
| worth for the investor. The equity makes obtaining a | | | | complete inspections, funding, and closing, however, |
| loan easier because the loan to value ratio is very | | | | most closing dates are within 30days from |
| attractive for both conventional and hard money | | | | acceptance of the contract. |
| financing. | | | | 6. Easily Submit an Offer: |
| 2. Large Inventory: | | | | 95% of Bank owned properties (REO) are listed with |
| Not only is there a surplus of Bank Owned (REO) | | | | a Realtor and are on the easily searchable Multiple |
| listings in Florida but across the U.S. All markets are | | | | Listing Service (MLS). By contacting the Realtor, the |
| experiencing a high volume of foreclosures; in return | | | | investor gains the guidance of a licensed professional. |
| this is creating a surplus of Bank Owned properties | | | | And the best part of all is; the Bank pays the Realtor's |
| (REO) in every city and many choices for the buyer. | | | | commission! |