Look For These Things When Buying REO Properties
REO properties is the hottest ways to invest in real estate these days. Lenders do not need to, nor do they want to; hold onto these homes for any longer than they have to. This is why, REO properties can be bought for nearly any reasonable offer. Of course, there are many things to think about these properties.
You should carry out a thorough inspection of the property which should be inclusive of the major structures of the property. The roof, sub flooring, basement, plumbing and wiring should also be inspected.
Make sure to do a detailed title search pertaining to the property. There are some property titles that have tax liens and this tax can be forwarded to the buyer of the property.
Most importantly though you need to know what the property should be bought for and what is worth after repair.
Use REOGoldMiner.com to find some great deals and InvestorCompsOnline.com to determine the current market value of the deal you are considering to buy as well as those of comparable homes in the area. You can save time and money if you do some research before you bid on the properties in question.
So what should you look for to accurately analyze the data from InvestorCompsOnline.com? Compare properties using these top three items: year built, room count, and square footage. When looking at the prior sales provided, compare your property to sales with those similarities. This will give you the best view of what similar properties have been selling for as is and ARV.
Real estate investing is not only about selling a property and making a profit. It will also require research in order to determine its value and to fairly price the property. By using InvestorCompsOnline.com, you will be able to know how to price it for buying or selling.
You should carry out a thorough inspection of the property which should be inclusive of the major structures of the property. The roof, sub flooring, basement, plumbing and wiring should also be inspected.
Make sure to do a detailed title search pertaining to the property. There are some property titles that have tax liens and this tax can be forwarded to the buyer of the property.
Most importantly though you need to know what the property should be bought for and what is worth after repair.
Use REOGoldMiner.com to find some great deals and InvestorCompsOnline.com to determine the current market value of the deal you are considering to buy as well as those of comparable homes in the area. You can save time and money if you do some research before you bid on the properties in question.
So what should you look for to accurately analyze the data from InvestorCompsOnline.com? Compare properties using these top three items: year built, room count, and square footage. When looking at the prior sales provided, compare your property to sales with those similarities. This will give you the best view of what similar properties have been selling for as is and ARV.
Real estate investing is not only about selling a property and making a profit. It will also require research in order to determine its value and to fairly price the property. By using InvestorCompsOnline.com, you will be able to know how to price it for buying or selling.
About the Author:
When searching for REO deals there is only one place to find the deals and analyze their profitablility and thats REOGoldMiner.com. With help from InvestorCompsOnline.com you can have all the "appraiser secrets for investors" that makes you the smartest investor in your area.