Finding a Santa Barbara REO Foreclosure Property.
Expert Timm Delaney offers practical advice for finding the best Santa Barbara REO Foreclosure Property.
REO Foreclosures are often times an ideal property for savvy investors as well as cost-conscious buyers. While most properties sell for between 65 and 80 percent of their updated value, some foreclosures can be listed for as low as 50 percent of their value. Finding these homes and negotiating the best deal can sometimes be tricky; but with the help of experts, you can find the perfect property at the ideal price. Santa Barbara REO Foreclosure Real Estate expert Timm Delaney has compiled a list of tips for finding your next foreclosure property.
1) Look for properties with “interesting” loan options. Some properties allow buyers to “take over” remaining loans, saving you thousands of dollars. In addition, many lenders are willing to accept less than they owe of their property, in order to quickly recoup their investment.
2) Search for Foreclosures on your real estate agent´s Web site. Any realtor specializing in REO Foreclosures will almost always have a way to provide you with a list of current distressed properties. Santa Barbara Realtor Timm Delaney provides extensive search tools for clients looking for the perfect Santa Barbara REO Foreclosure and says that clients should be wary of working with any agent not willing to provide this information.
3) Find properties in pre-foreclosure. Pre-foreclosure of a property occurs when the property owner has missed three payments. At this point, the property owner can sell the home in order to prevent foreclosure. Most owners will sell at a highly discounted price in order to be free of the property. Pre-foreclosures are often difficult to find without the assistance of a realtor. Contact Santa Barbara Real Estate agent Timm Delaney at Timm@TimmDelaney.com or (805)895-1109 to get more information on pre-foreclosures.