BUYING A HOME?
We have the
experience, desire, motivation and proven track record to help you find
an absolute amazing deal on your next home. Many of the best bargains
that hit the
market and are quickly sold.
We will help you know about the newest homes for sale before
everyone else. Our system searches the market on a daily basis for the
best deals including bank foreclosures and short sales.
Our fully automated system will notify you via email every morning
of new homes that match your search request. We have helped hundreds of
buyers in the past few years with this system find true value in the
Utah County market.
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A New Way to Find Your Next Home.
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Follow Market Conditions
Custom Searching allows for
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What are Foreclosures / REO? |
What is a Short Sale and How does it
Work? |
A Foreclosure and R.E.O are the same term. R.E.O is Real
Estate Owned meaning Bank Owned. In Utah we commonly use the
term Foreclosure.
Foreclosure is a legal proceeding to enforce payment of a debt through
the sale of property on which the creditor holds lien. This
is done by Auctioning the home off at the county court
house. The lender will be at that sale and will make sure
that home is purchased for the amount of the loan on the
home. If the loan amount is not covered then the property
will be purchased by the lender at the auction and become
legally owned by the lender.
The reason this is so great for buyers is you now have the ability to buy
directly from the bank. Many times foreclosures are priced
below market in order for the lender to sell the property in
a timely manner.
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A Short Sale is a much more complicated Process than a
Foreclosure. A Short Sale commonly occurs before a
foreclosure. The home owner still legally owns the property
and is usually behind on payments or owes more than what the
property is now worth.
Short Sales right now are taking 6+ months to complete and are a long
frustrating process for many of our clients both sellers and
buyers.
The price of a short sale is set by the realtor to get offers on the
property. Many times this is not the price the property
actually sells for.
If you still want to get a great price on a property and
have the time and are willing to negotiate the price at a
later time Short Sales are a great option.
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