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Bank Foreclosures – Investing in Foreclosure Homes
Bank Foreclosures Sale is a leading online foreclosure listings service that provides information and advice to real estate investors of all skill levels: from beginners to experienced veterans, and everyone in between. Our database contains over two million foreclosure homes, including bank foreclosures, government foreclosures like VA homes and HUD homes, distressed properties and commercial foreclosure homes for sale all across the nation. We update our extensive collection of listings every day and are proud to provide the most accurate information available on bank foreclosure homes, pre-foreclosures and government foreclosures for sale. Our customer service is the most professional and experienced in the business, and our expert staff is accessible 24 hours a day, seven days a week.
Start your 7-day trial membership with our foreclosure homes listing service today and allow us to help you become a successful investor, or increase your current level of success, in bank foreclosures for sale.
How to Find and Buy Foreclosure Homes
If you’re looking to find foreclosure homes at great prices, you’ll find them here with BankForeclosuresSale.com’s foreclosure listing service. Our members get access to the most current and accurate bank owned property listings, commercial foreclosures, and government foreclosures for sale available in the United States.
There are all kinds of free listing services available, but they often give you outdated and unverified bank foreclosure homes listings or even inaccurate property information. When it comes to free listings, you really get what you pay for. The BankForeclosuresSale.com difference is that, for a nominal fee, you get full access to a foreclosure listings service that offers timely, relevant and accurate information that is essential to your success as a bank foreclosure homes investor.
Buying foreclosures for sale is relatively risk free, since all other liens have already been eliminated and the bank has a clear title to the property. Once you win the property, it’s yours for only the price you pay at sale. Just make sure that you inspect foreclosure homes thoroughly and take into consideration the cost of repairs needed when determining if the price you will pay for a bank foreclosure home is indeed a good bargain.
Bank Foreclosed Homes
Bank foreclosed homes are also called real estate owned (REO) foreclosures. When property owners are unable to make payments on their bank-held mortgage loan, the bank forecloses on the property in an attempt to repossess it. This is how a property becomes a bank foreclosure home.
Experienced investors know that while a bank foreclosure is being processed, owners may sell their homes in order to avoid foreclosure. This period is referred to as the pre foreclosure period. Often times, owners are willing to negotiate a lower price for the sale of their home during this period so that they can avoid damage to their credit score. In the end, the investor gets a great price while the seller avoids foreclosure and maintains a good credit score. This is a win-win situation for both parties.
If the home is not sold before the foreclosure is processed, the title of the bank foreclosure home is transferred to the bank. Banks, however, do not like to own foreclosure properties. They are in the business of dealing with money, not real estate, and bank foreclosures are a burden on banks for several reasons:
- They are expensive to maintain – The bank must pay taxes, insurance, maintenance and security for their bank foreclosure homes. The longer they hold on to bank foreclosure homes, the more money they lose.
- The bank looks bad – Having a large inventory of bank foreclosure homes on their books highlights their bad lending decisions.
- The bank needs to recover the money lost on bank foreclosures.
Due to these reasons, banks try to get rid of bank foreclosures as fast as they can. This is how investors can capitalize on these properties. It is often possible to negotiate deals where you can buy bank foreclosure homes or government foreclosures at a price that is anywhere up to 60% below market value.
With the incredible opportunity these properties present, you can make a nice profit every time you invest in bank foreclosure homes!