What is pre foreclosures and what they can be profitable for the property investor?
Sell House Fast
Tampa, Florida, December 17, 2007 Online property auction site FastHomesolutions.com is reporting a record number of foreign investors visiting its web site in search of real estate bargains, especially in the Sunbelt area of the United States. The current weakness of the dollar against foreign currencies is a key contributor to the trend, which works to the advantage of lenders anxious to sell their REO (real estate owned) inventories of defaulted properties to foreign investors.
Foreclosure Investing – The Pros And Cons Of Investing In Foreclosures
Investing in home foreclosures can be very lucrative; however, there is substantial risk involved, just as in any type of investing. Look at some of the pros and cons of three different types of foreclosures.
Buying Bank Owned Properties (REO)
When real estate investors evaluate their options for what types of properties to invest in, some of the first things that come to mind are preforeclosure, short sales, and other types of foreclosure properties. This tendency is a natural one. After all, sellers facing foreclosures are naturally going to be more motivated and that is what most investors are looking for.
Buying great pre foreclosures
Buying great pre foreclosures is one of the most effective ways to find discount property available for direct purchase in today’s competitive market. With so many people searching for homes through real estate agents and other traditional forms of property purchase, it can be tough to find any substantial savings. And buying other forms of repossessed or distressed types of houses often means competing with others in an auction scenario. But buying pre-foreclosures means dealing directly with a homeowner on your own to negotiate a sale, so it can be a great way to get the price you want.