Welcome to our featured Bank Owned property page. Bank owned homes are flooding the market. Before you purchase a bank owned home there are things you need to know. Please contact us if you are interested in purchasing a bank owned property. Let a bank insider guide you in your journey outling the positive and negative points you should know before you purchase. Look for our new bank owned property page coming soon, right here!!!
SSSSSHHHHHHH!!!!!! WE HAVE A SECRET!!!!!
Did you know there are alot of bank owned properties that are not yet on the market??? They need to get them clean or clear the title or for some reason have not listed it yet. If you are looking for a deal on a property, then email me for more information. SCTPROP@AOL.COM and let me know what you like, what you dont, what area you prefer and of course what price range you want to stay in. I'll let you know what we have access to.
BEFORE CONSIDERING TO PURCHASE BANK OWNED PROPERTY YOU NEED TO CONSIDER SOME OF THE FOLLOWING THINGS
ARE YOU READY TO CLOSE QUICKLY
ARE YOU PREQUALIFIED OR A LOAN? (If not i can refer you to one of the best loan officers to ger a free prequalification)
GOOD CREDIT IS USUALLY NECESSARY
ARE YOU PREPARED TO BE ABLE TO DO COSMETICS OR OTHER REPAIRS? Some units are completely redone but to get the deals you will want to do it yourself.
ARE YOU WILLING TO BUY A HOME AS IS. All bank owned homes are sold without any warranties, guaranties or such.
Most banks upon gaining possession will pay to clean out a unit and do minor repairs or items to preserve the property. If you want to save money you can offer to do all the work. Some banks will agree and you can get a deal. But be known that once the offer is accepted all work on the property stops and you get it as you requested. AS IS
WHEN IT IS TIME TO MAKE AN OFFER YOU WILL NEED:
To have a prequalification letter or on cash deals a copy of your banks statement showing that amount in your account to include with your offer.
The ability to close within 30 days
Most banks will not accept any contingincies on a purchase and sales, Including home sale contingincies, inspections or fixing anything. Remeber it is sold as is.
Most will allow a home inspection ONLY for your peace of mind, they usually wont let you make the sale contingent upon a satisfactory inspection, although some will give you up to 7 days.
Be prepared that if the home is winterized, the buyer is responsible for paying to turn on the water and then pay to have it re-winterized upon completion. In most cases it is $200. If i am your agent i can often work a deal on this. Each case is different though.
If the utilities including electric and gas are off. You are responsible for paying to turn them on in your name to test them with prior permission from the bank. If you are purchasing it, it is usually not a problem as you will put them in your name anyway.
OIL AND PROPANE. The bank will not fill oil and propane tanks. If the property has oil or propane and teh tanks are empty, you will need to fill them if you want to test them.
Please note that these are only a few of the items to consider. Please do not rely wholely on this information as any buyer should do their own due diligence. Nothing written here is guaranteed. Each bank has their own way to do business. Please use it as a guide only. For specific information on any one property you are buying through me, just ask...
ARE YOU BEHIND IN YOUR MORTGAGE? ARE YOU FACING FORECLOSURE? DO YOU OWE MORE THAN YOUR HOUSE IS WORTH? NOT SURE WHAT TO DO?????
BEFORE YOU GIVE UP - BEFORE YOUGET FORECLOSED ON... LET US HELP!!!
There are programs out there that we can help you get in so you CAn sell your house. Don't go paying anyone for the service i offer at no cost when you list your house with me. There are no up front fees. Please call or email for a free confidential meeting. I will tell you up front what i can or what i can not do. Save your credit and you may even be able to get a check at closing. All situations are different and no two cases are the same. Let me help. It is worth your time to get a no nonsense opinion on what we can do to help you. Let us help you get your peace of mind back. Dont hesitate, because time does matter.
ATTENTION ASSET MANAGERS & REO SPECIALISTS
ATTENTION REO PROPERTY MANAGERS!!!!
We specialize in the Listing, Selling, Maintenace and Management of REO properties. As a leader in REO sales we can provide you with professional and personal service to assist you in your job.
I strive to complete virtually all BPO's within 24 hours of assignement. With 22 years experience i have worked with many different banks, mortgage companies and Reo managers. We have a unique marketing plan that gets your listings maximum exposure and assisted showings leading to quicker sales at the best obtainable price.
BROKER PRICE OPINIONS (24 hour completion time from assignment on most BPO"S)
PROPERTYINSPECTIONS (Occupancy Reports)
RE-KEY (Initial entrance and lock change)
TRASH OUT (Interior and Exterior clean-outs)
LAWN CARE AND SNOW REMOVAL
FULL LISTING SERVICE
MAXIMUM EXPOSURE THROUGH ADVERTISING AND MARKETING
BEST OBTAINABLE PRICE
MEMBER TO MOST REO MANAGEMENT WEBSITES
Winterization Failure to properly winterize property is one of the most costly mistakes in the REO business. We understand this risk and contracts REO field professionals to service our properties. Our standard winterization includes:
Draining all supply lines
Plugging the main supply line
Winterizing all drain line traps with antifreeze
Use of forced air to remove standing water from supply lines
Placard commodes, sinks, and front door
Securing Our Field Agent will ensure your assets' doors and windows are secure to mitigate occurrence of forced entry by unauthorized parties. During the securing process, our agent will:
Re-key the main door and secure a lock box for future entry
Secure all doors and windows
Placard the front door
In the event that the integrity of any of the exterior doors or windows is breached, our agent will secure the breach by boarding
Personal Property Remediation Upon initial order, we will properly discard all personal effects of the previous occupant(s). Items with a value in excess of $300 will be catalogued and stored for a specified period of time compliant with local ordinances. In the event that our agent uncovers any materials that may be toxic or considered hazardous, the items will be properly disposed of to limit negative exposure to the community as well as the environment.
Lawn/Snow Service It is a common belief among REO professionals that a properly manicured lawn attracts more buyers, higher offers, and helps remove the stigma and inherent risk of being a vacant REO property. Our Field Agents will provide bi-monthly lawn service compliant with HUD requirements. Snow removal compliant with local ordinances can also be facilitated on a transactional basis as requested.
Property Appreciation Services We offer a complete array of Property Appreciation Services that can help maximize your net return on your disposed asset. Whether a fresh coat of paint or that new carpet smell would help market your property, we have you covered.
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