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Articles Tagged: Distressed Property

Home Buyers Guide Home Sellers Guide

‘Distressed’ properties: Foreclosures, REO’s, Short Sales

December 22, 2022

Foreclosures and Short Sales

A “Distressed” property is the industry term encompassing foreclosures, bank owned (REO) and short sales. Many people think that going after foreclosures, bank-owned or short-sale properties is a good way of getting a great deal on a home. It can be. But it can also be a risky purchase, and tough to even buy one, especially when financing.

Foreclosures

Foreclosed homes are bank-owned properties that are usually sold at auction, where the bank tries to sell it for as much as possible to recover the money it lent.

Purchasing a foreclosure before it hits the open market (at an auction or Sheriff sale) requires that you take on all risk — they are sold “as is,” meaning no inspections, and no repairs. Oftentimes you can’t even see inside the home before you make an offer. And since most lenders won’t fund the purchase of foreclosed homes, purchasing with all cash is usually your only option.Continue Reading

Filed Under: Tips for Home Buyers Tagged With: Bank Owned (REO), Distressed Property, Foreclosure, Short Sale

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"Best in the business! We have used Russ to purchase our winter home in Arizona and soon realized we wanted to upgrade to a larger full time forever home! Alas, Russ worked his magic and found our dream home. Russ is truly one of the best agents we have ever worked with. He is knows this market and we never felt pressure to make a purchase on a house that was not quite what we were looking for. I can’t recommend him highly enough."
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"Experience counts! Selling a home is a complicated transaction with no room for error … Russ is the expert you need that will guide the seller thru the process step by step and steer you clear of any pitfalls. Russ knows the market, and the area, which is invaluable to the seller. Having sold many homes we wish Russ had been there for all of them … you can’t put a price on experience with this complicated a transaction. If you list with Russ, start packing — he does everything else for you. Thank you Russ!"
- Anna C., Quail Creek
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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and Quail Creek resident. Whether you’re buying or selling a home in Quail Creek, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ

This site is not affiliated with Robson Communities or the Quail Creek Country Club Property Owners Association.
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