What To Look For When Buying REO Properties

By: Jerome Pennix

REO properties are one of the best ways to invest in real estate currently. Banks do not need to, nor do they want to; keep these properties for any longer than they absolutely have to. This is why, REO properties can be had for nearly any reasonable price. Of course, there are many things to consider about these deals.
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 have a complete title search pertaining to the home. There are some property titles that have tax liens and this tax can be passed on to the new buyer of the property.
Primarily you will need to know what the property should be paid for and what its value is after repair.
Use REOGoldMiner.com to find your deals and InvestorCompsOnline.com to determine the current market value of the property you want to buy as well as those of similar homes in the area. You will save time if you carry out a little research prior to making bids on the properties in question.
So what do you look at to accurately review the data for your potential projects? Compare houses using these top three items: year built, room count, and square footage. When looking at the previous sales provided, compare your property to sales with those similarities. This will give you the most accurate view of what similar properties have been selling for REO and after renovation.
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.

Article Directory: http://www.articletrunk.com

| More

When looking 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 town.

Please Rate this Article


Not yet Rated

Click the XML Icon Above to Receive Industry Articles Articles Via RSS!

Powered by Article Dashboard