Real Estate Owned Properties, or REOs, are real estate properties seized by lenders like banks when the owners failed to pay the mortgages. You can acquire these properties below market value. Not only that, these properties have no title liens as well as outstanding claims like delinquent taxes.
On the other hand, getting an offer accepted on an REO property requires a lot of work. But the good news is a Bakersfield REO agent can help you make the right offer and make the entire buying or investment process stress-free.
How an REO Agent Can Help You Find an REO Listing
Although a lender or a bank has an excess REO properties inventory, the properties are not being offered at unbelievably low market value. But, when you work with an REO agent, a thorough market research can be conducted to help you figure out a fair price for a certain REO.
In finding Real Estate Owned properties, you can contact an REO agent to help you find lenders. That way, it’s a lot easier to seek REO properties that are currently available for sale. Working with an agent is often an easier and more reliable way to find great REO listings and when you finally found a perfect property for yourself, the agent will guide you end up with the right price when making an offer.
REO agents in Bakersfield are knowledgeable and always up-to-date when it comes to available REO properties. Besides, they have a good relationship with different banks or lenders, so there’s no way for you not to be introduced with interesting REO listings.
Making Your REO Offer
Without a California REO agent, buying a property can be a complex process. During the selling process, a savvy negotiation is an advantage to buy the REO at a price you want.
In making an offer on an REO property, you need to include a cover letter stating that you are willing to purchase the home “as is.” Then, an escape clause is also included letting you out of the deal when later property inspection has revealed extensive damage. Be aware that this kind of real estate deal does not allow you to inspect the property before an offer.
For increased chances of getting the REO property you want, you will be benefitted from hiring an expert REO agent, especially when navigating the deal.
Get Your Desired REO Property with An Expert Agent
To ensure that you will end up with the right REO property and the right price, the best thing you can do is to work with Miguel Garcia. He is an award-winning and licensed real estate agent with in-depth knowledge and over a decade of experience in investment properties, REO properties, and home buying or selling. Thus, he has a deep understanding of the real needs of his clients, so he ensures to help them the best property deal while making their dream property into reality.