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Foreclosures, Bank Owned and Short Sales

A good deal is not without risk

Foreclosures and Short Sales can be a good deal but not without riskMany people think that going after foreclosures is a good way of getting a good deal. It can be. But it can also be a risky purchase, and tough to even buy one.

Purchasing a foreclosure before it hits the open market (at an auction or Sheriff sale) requires that you take on all risk. Oftentimes you can’t even see inside the home before you make an offer. Plus, you have a very short period of time to come up with proceeds if you successfully win the bid.

A better way to go after foreclosures is to focus on those the bank (or other lender) recovered and put on the open market. We can certainly consider those. At least we’ll be able to get inside and see the home. However, they’re typically sold in “as is” condition, and the seller will likely not do any repairs or credits for anything you find wrong with the home.

This applies to “short sales” as well. These can also be a way of getting a good deal, but you also will likely have to accept the property “as is.” However, an offer on a short sale can also take weeks or months to be approved, if at all. So you need to be patient if you decide to pursue a short sale.

With all of that said, just because something is a foreclosure or a short sale doesn’t mean it’s necessarily a “good deal.” It depends on how much you can get it for, how much work or renovation is needed, and risk you have to take on.

So if you’re interested in a “distressed” property (the industry term for foreclosures, bank owned and short sales), we’ll add them to the mix. Just make sure you approach it with eyes wide open and know what you’re getting into — and only as long as the deal is good enough to make it worth your time, effort, and financial risk.

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TESTIMONIALS

"Professional in every way. Russ was great to work with. He returned all my inquiries swiftly and promptly and was with me every step of the way. He was a pleasure to work with and I would recommend him without question."
- Jeff P., Quail Creek
"My experience with Russ was excellent. Russ even helped get the property ready for sale since I was out of state. He took care of everything. He was great!"
- Gilbert W., Quail Creek
"I had a great experience with Russ during the purchase of this home. He was knowledgeable and very prompt in replies to questions. He shared his knowledge about the home, this community as well as the real estate market overall. He assisted me in narrowing my search. He helped with details during and after the search and purchase. I would utilize his real estate service again. He is truly an exceptional Realtor."
- Kristi L., 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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