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 Distressed Properties

What is considered distressed property? Foreclosures, Preforeclosures, Bankruptcy, Bank Owned or Short Sales?

Many people think Distressed property = Savings, while in some cases it can, that is not always the case.

Properties that are distressed are typically both financially and physically distressed. People in financially distressed situations tend to pull out all of the equity in their home to survive as long as possible. Many lending institutions will also do 100% financing again leaving the home with little or no equity. Since money is tight many distressed Arizona homeowners use this money for the basic necessities and the property is not maintained, thus it becomes physically distressed. What does that mean for a buyer looking to purchase distressed property? It means that there is little room to negotiate on price. In fact in some cases homeowners owe more then the home is worth.

Please call for more information on distressed property