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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

"Russ knew the market for the neighborhood I lived in and guided me thru the entire process, from how to stage my home and the price my home would sell for. My house sold in 22 days on the market. A very good experience. Thanks Russ!"
- Richard P., Quail Creek
"Russ had it “right” from our first meeting to evaluate the market and the sale of our home. His expert professionalism guided the entire process. Clear and frequent communication was very helpful. He is low key, yet very present when needed. We could not have had a better experience with a different Realtor!"
- Jack M., Quail Creek
"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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