“Property that is under a foreclosure order or is advertised for sale by its mortgagee Distressed property usually fetches a price that is much below its market value.”
A lender will initiate foreclosure proceedings if the owner of the property has been more than 90 days delinquent on his monthly mortgage payments. The bank or lender will then repossess the property and try to sell it on the open market in order to recoup its initial financial outlay. In order to sell quickly, the lender will drop the sale price up to 50 percent. Distressed properties offer tremendous opportunities for buyers and investors alike.
Realty World Dominion professionals are trained in working with distressed properties and are able to help you explore options other than foreclosure. Many lenders would rather not foreclose. They take a large financial hit on a foreclosure. So in many cases, they’ll consider alternatives. Some of these options may keep you in your home.
If you’re looking to invest or buy a distressed property, our agents are experienced in how to deliver all the best options. Finding the right home, payment option, and skilled negotiations with the mortgagee to suit your best interest are services we are happy to offer.
Realty World Dominion
3194 De La Cruz Blvd #10, Santa Clara, CA 95054