There are plenty of foreclosures in Tucson, Arizona. John is a certified Short Sale and Foreclosure Resource Specialist, which means he has training and education that has furthered his knowledge and expertise in the area of foreclosures and short sales. The banks and investors have recognized his knowledge in foreclosures and have continued to ask John and Megan Billings to list and sell their incoming foreclosure properties.
Buying a foreclosure or short sale with John and Megan Billings will ensure that you have the best protection and guides on your side. Having expert knowledge in the process of foreclosures is key to successfully closing a buyers desired home.
Unfortunately, Tucson bank owned homes are here to stay. While the ill-fated have lost their homes and credit scores, the timely are taking advantage of low priced foreclosures and short sales.
Foreclosures and short sales can be cost saving compared to a traditional re-sale home or new build, but there are a few items that should be noted:
1. Are there appliances, fixtures, interior or exterior damage to the property?
* If so, these items will need attention that could be expensive.
2. Always order an inspection on the property.
* We always recommend that a home inspection be done on any property, whether it be a foreclosure, short sale, new build, or a traditional re-sale.
3. Are there existing liens on the property?
* Sometimes on a foreclosure or short sale, the bank or investor will request that the liens on the property be paid by the buyer.
Before you offer into a bank owned property contract, such as a foreclosure or a short sale contract, make sure that the comparable homes (comps) that are not foreclosures or short sales are selling well above what your offer is. Otherwise, your "good deal" could end up costing you more than what you bargained for after all is said and done.