World Class Partner for All Your Property Sales and Purchases
| HUD/REO and Foreclosures | ||
| It is important to dispel some myths about HUD (Housing
and Urban Development) and REO (Real-Estate Owned) properties. On
average, there is very little quality difference between a HUD/REO
property and a regular property. The main difference is the possibility
of getting a deal on a property that can be bought at below market
price. There is some concern that HUD/REO properties may have been mistreated or neglected by the previous owner, and while there is good reason to be cautious, a veteran real estate team like Richard Payne Investments can determine the best deal when there are questions about a particular property. |
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| As a property investor or home buyer, HUD/REO properties can provide a unique opportunity of purchasing property below its market value. For short-term investors, profiting from the quick turn-around on the sale of these properties is a realistic objective. For those seeking a new home, it can mean more financial options and a real chance at home ownership. | ||
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| There are two factors to consider when looking at HUD/REO properties: | ||
Actual Property Condition
Cosmetics versus incurable problems? How much work and money to upgrade/repair the property for a quick sale? Does the condition compare favorably to neighboring properties after it is all fixed up? Comparable Property Value
What is the real market value? Can the property be a real deal? Is there equity in the property after fix-up? |
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| At Richard Payne Investments, sifting through the details is what we do best! Let us help you make your HUD/REO purchase a successful one with our years of financial experience and property knowledge. | ||
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Richard Payne Investments
Loveland Office: (970) 663-7444 Fort Collins Office: (970) 223-0777
E-mail: info@payneinvestments.com
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