How to buy Foreclosures,
Short sales,
Bank Owned Properties & REO's
Welcome to ElectricRealty.com,
your source for acquiring real estate short
sales and foreclosures
in Metro Phoenix, Arizona; also
regular sale and short sale
listing agent for Scottsdale, Paradise Valley,
Tempe, Phoenix, Chandler.
There are different
methods of purchasing short sales, foreclosures / bank owned
homes successfully, and we will use the system best
suited for your needs. We do not believe in being
pushy; instead, we will educate you by providing
all the facts. You will be able to use the latest
high-tech features of the MLS to save time and make
the process easy, this from the comfort of your
own home. PhotoVideoTours of properties of interest
can also be produced for our out-of-town buyers
either with retainer or for a small fee to cover
our expenses. Cash buyers /
investors looking for short sales, preforeclosures,
foreclosures, or bank owned properties, in
Arizona? Please
contact
us for thorough search results.
Plans are available for investors wishing to
make multitudes of "lowball" offers.
Contact
us for details. Your satisfaction and future
referrals are our ultimate goals.
Nowadays,
Short Sales and Lender Approved Short Sales out
number foreclosures and can be the better deals
on the market. The lender approved short sales
generally close much faster than the ones that
still need to be approved, and are listed at the
price that the lender will accept. If a short
sale has not yet been approved, the list price
is chosen by the listing agent and does not
necessarily reflect the final sale price.
Bank
Owned Properties, aka Foreclosures or REO’s, and
now even short sales are in such high demand that
they create bidding wars between buyers and
often
sell at or more than asking price. It takes
experience to determine the right offering price
to successfully obtain a property without
overpaying. For this reason
and because of the added work, many real estate
agents either fear working with foreclosures/REO’s
and short sales or no longer wish to write offers on them
after a few unfruitful transactions. This is especially
if their list price is in the lower end bracket.
Even for us, it is hard work; but we are not afraid
of it. No purchase price is too low. Please contact
us for more information.
REO’s, short for Real Estate Owned, are currently
bank owned properties that have gone through the
foreclosure process, and have not sold at the Trustee
Sale (foreclosure auction/sale). At the foreclosure
sale, which generally take place on the court house
steps or at an attorney’s office, the property is
auctioned with opening bid starting at loan balance
+ accumulated interest + all misc fees. Payment
method is cash and the property is sold as-is, even
including existing liens against it and occupants
to deal with. When such a property is not sold at
the Trustee Sale, it is then “repo’ed” by the bank
which removes the encumbrances (liens & occupants)
in order to make it eligible for title insurance;
then lists it for sale with a broker. Note that
no guaranties are made by the seller about the condition
of the property, so the possibility of any defects
should be investigated during the allocated inspection
period.
Even
though bank owned properties / foreclosures or REO’s,
and short sales are usually good deals, buyers must
be informed and educated about the surrounding comps
to make the appropriate offer. Factors such as cost
of rehabilitation repairs, remodeling, upgrading
(if needed) must also be factored in to still have
a bargain by the time the project completed.
The process of making an offer: Bank owned properties
/ Foreclosures / REO’s are listed for sale by listing
agents representing the banks’ interest and not
the buyers’. Many selling banks do not even allow
their listing agent to represent both (dual representation)
because of the clear conflict of interest. This
is where we do our part. After initial contact,
we will show you everything available according
to your criteria, first online through a special
mini website especially prepared for you, then in
person. We will educate you in order to make you
an expert on your properties of interest. When ready
to make your offer(s), we will take care of the
complicated process which can be different for each
seller, and help you negotiate with the asset managers
and agents representing the banks. Be aware that
having your offer accepted and successfully closing
of escrow can be tricky. To increase your chances
of a fruitful transaction it is important to have
a competent and honest realtor on your side, not
just a agent interested in making a quick commission.
Remember that your satisfaction and future referrals
are our ultimate goals. Contact us now.
Call 602-614-4622 or to
be connected for free, please enter your
name and phone number. Google Voice
will then call your phone and ask you to
press 1 to be connected with us.
PhotoVideoTours™ and listings
Sell faster with PhotoVideoTours & innovative marketing
Feel free to search the Arizona MLS listings anonymously.
I will respect your privacy by not asking you any registration
information.
If you are considering
buying, selling a home or would just like to have additional
information
about any
properties, please contact us as well without any obligation
or fear of being harassed. I will do my best to
answer all your questions and will only ask that you
tell others about my services.
Thank you for visiting
my website and return often for the latest property
listing updates.
Do you want to sell your Phoenix Arizona house fast?
Have you ever wondered: "How
much is my house worth?" If so, the first step to
sell your home quickly and even for cash in your
pocket in just a few days is to fill out the
Comparative Market Analysis form for free and with no
obligations.
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There are different
methods of purchasing short sales, foreclosures / bank owned
homes successfully, and we will use the system best
suited for your needs. We do not believe in being
pushy; instead, we will educate you by providing
all the facts. You will be able to use the latest
high-tech features of the MLS to save time and make
the process easy, this from the comfort of your
own home. PhotoVideoTours of properties of interest
can also be produced for our out-of-town buyers
either with retainer or for a small fee to cover
our expenses. Cash buyers /
Nowadays,
Short Sales and Lender Approved Short Sales out
number foreclosures and can be the better deals
on the market. The lender approved short sales
generally close much faster than the ones that
still need to be approved, and are listed at the
price that the lender will accept. If a short
sale has not yet been approved, the list price
is chosen by the listing agent and does not
necessarily reflect the final sale price.
Bank
Owned Properties, aka Foreclosures or REO’s, and
now even short sales are in such high demand that
they create bidding wars between buyers and
often
sell at or more than asking price. It takes
experience to determine the right offering price
to successfully obtain a property without
overpaying. For this reason
and because of the added work, many real estate
agents either fear working with foreclosures/REO’s
and short sales or no longer wish to write offers on them
after a few unfruitful transactions. This is especially
if their list price is in the lower end bracket.
Even for us, it is hard work; but we are not afraid
of it. No purchase price is too low. Please contact
us for more information.
Even
though bank owned properties / foreclosures or REO’s,
and short sales are usually good deals, buyers must
be informed and educated about the surrounding comps
to make the appropriate offer. Factors such as cost
of rehabilitation repairs, remodeling, upgrading
(if needed) must also be factored in to still have
a bargain by the time the project completed.
