Top Reasons Why Real Estate Owned Properties Are Better Than Others
Are you planning to invest in a real estate property in Bakersfield, California? If yes, they why not opt for Real Estate Owned or REO properties?
More and more people consider buying or investing in REO properties. While seasoned experts in the real estate investing landscape were already aware of the advantaged that these properties offer, new investors remain evasive due to fear of the unknown.
Most often, REO properties are offered through auctions and deliver great opportunities to the investors or buyers because of below market value. Those are properties that have been foreclosed and being reclaimed by the institutions because the owners fail to pay their mortgages.
Because you are interested in exploring the real estate industry and buying a rewarding property, check out the following reasons why it is better for you to invest in a Real Estate Owned Property along with the help of a Bakersfield REO agent.
- No Title Discrepancies
Unfortunately, title discrepancies are common issues in the world of real estate. But, not with REO properties. These properties have a very low rate of title discrepancies issues. That is because a bank that is responsible for the repossession ensures to eliminate any liens while bringing current taxes. However, see to it that you will be working with an REO agent who can help you review the property and ensure that it has a clear title and free of issues.
- Below Market Value
Banks are motivated to extinguish the REO properties they repossess, and they are not in the business of holding onto these properties for too long. This means that they are on the sense of urgency in selling these properties, which is an advantage for you. Because the properties are being offered at a below-market price, you need to act quickly. The best thing you can do is to hire a California REO agent to help you quickly get the best deal.
- Option for Property Inspection
Unlike in the typical real estate selling process, people who want to buy or invest in a property are entitled to conduct a professional property inspection and appraisal before making the offer. Although REO properties can be bought “as is” and lenders don’t make any upgrades, you still have an opportunity to negotiate or talk with the lender to pay for any possible repairs. Together with your agent, you can review the property’s current condition, which includes the repairs that might be needed.
Work with A Professional REO Agent Today!
Are you now attracted to Real Estate Owned property? Then, it is best for you to work with a professional REO agent in Bakersfield. Miguel Garcia, a trusted, licensed, and award-winning agent of real estate, works in Miramar International, Inc. and currently lives in Bakersfield, California. With 13 years of experience in the real estate industry, it is no surprise that he is among the top agents in California and successfully closed plenty of deals. Among his field of expertise is the REO properties.