how to sell foreclosures
How do you find, buy and sell foreclosures with no money?
Is it real or just a scam? Has anyone successfully done so and willing to share? Where do I get started with the least amount of monetary output? Please help!
If you have no $$$$$$$$ you have to get financing. And don’t forget most forclosures are mrtgaged to the hilt so they are not some kinda bargain basement deal.
Who Knew? Nicer Homes Sell Faster!
I just read an article that made me laugh and I had to share it. Allegedly a home that is fixed up will have an improved chance of selling and sell faster than houses that are not remodeled. A study was conducted to find out this awesome reports. It gets better! Rehabbed repos sell faster also. So all you homeowners looking at foreclosure and all you banks with tons of REOs on the books, call the contractors it’s time to rehab those houses!
“A study conducted by Field Asset Services, a property preservation and maintenance specialist that focuses on foreclosed and repo properties, revealed that a foreclosures sale will have a higher chance at success if the property on offer has been remodeled. The company’s annual study of foreclosures and REO properties also revealed that the days on market (DOM) for rehabilitated properties are shorter than those that were sold ‘as is’.
According to the study, the DOM of bank, government, and VA foreclosures that have been rehabilitated before being put up for sale is reduced by around 68% compared to homes for sale that were not repaired or remodeled. Field Asset conducted a similar study last year which revealed that DOM is reduced by 54.6% for rehabilitated dwellings.”
“Foreclosures Sale More Successful for Remodeled Homes, Study Says,” Real Estate News,http://www.myrealtynews.com/real-estate/foreclosure/foreclosures-sale-more-successful-for-remodeled-homes-study-says/
I’m amazed that money was spent on this study, but at least it was private industry and not government funds. So lesson learned: buyers like nice homes. I will use that!
