Make Money in Short-Sale Foreclosures: How to Bypass Owners and Buy Directly from Lenders Most foreclosure properties, also known as REO’s (or pre-foreclosures, also known as short-sales) are dirty, have a lot of junk inside them, are in disrepair and there’s limited information on both the property and the deed. If mortgage payments are not being made, then that means the owners are in financial stress. If you’re in financial stress, that means you have only enough money to pay the grocer. If all you have is money for groceries, then you’re not going to pay for a cleaning lady, roofer, painter, creditors — and lastly, the lender. If you agree to buy the house, you get it in its current condition, no exchanges or substitutions allowed. You get the soiled carpet, busted a/c, vermin infestation, etc. What you get in exchange is a house that is truly under the market as far as pricing is concerned, and you get to add some repairs and sweat-equity to create a healthy financial gain.

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