You can buy a foreclosure property in three different stages.
- Before the default. You can purchase the property in the first phase of the default, which is before an auction takes place.
- At the public foreclosure auction. Investors can still snag a steal at the auction.
- From the bank, if no one bids at the auction and the bank must repossess the property.
Once the property is repossessed, it becomes what is known as an REO property, which stands for Real Estate Owned. Under these circumstances, anyone can buy the home, but the challenge becomes reaching the person who can actually make that decision to sell the property since each institution has different rules. That said, most banks are willing to negotiate to unload the property. We would definitely classify the banker as a “motivated seller” when you consider that they lent 80 to 100 percent of a loan to the defaulted borrower. If this bank has a growing inventory of defaulted property—which he may, given the housing crisis of the last few years—it could result in a great deal for the potential buyer. A quick sale can minimize the bank’s losses.
What often happens is that lending institutions hire brokers to market and sell their REO properties. This is where I come in! As a broker, I specialize in foreclosures by doing the right type of marketing and finding the right type of buyer. It’s best for local banks to use one, trusted broker to handle their REO properties, while larger banks may use many brokers to handle huge inventories.
Finding the Right Real Estate Agent in Mount Laurel, NJ
If you’re looking in the area of Mount Laurel, real estate for sale is abundant. Mount Laurel New Jersey is a premier and up and coming suburb, perfect for you young families. Mount Laurel is approximately 22 square miles, and within its borders you can find a wide variety neighborhoods and developments boasting condos, town homes, and single family homes for sale. With around 41,000 residents, Mount. Laurel is one of the more populated towns in Burlington County, and yet is small enough to maintain the feel of a tight knit community, especially within one of its famous family-oriented neighborhoods. Mount Laurel is also known for its abundance of shopping, good schools, and many parks and recreational areas.
If you’re looking for New Jersey Real Estate for sale, there are hundreds of agents to choose from. But none are as dedicated, knowledgeable and passionate about the South Jersey lifestyle as I am. Our primary goal as a real estate agent is to make the experience of relocation as easy as possible for her clients, and will work extremely hard to make that happen. My business is not real estate – it’s finding home for people. I recognize that buying or selling a house is an emotional process, and my ability to relate to this has lessened the stress of real estate transactions for many, many clients.
I operate on the philosophy that the real estate business is much more than just showing people pretty homes and signing contracts. For Long and Foster it’s about one goal – helping people find and fall in love with the place where many future memories will be created. In order to do this, I recognize the importance of forging meaningful, lasting relationships. I care about what you care about, and together, you will find the home of your dreams, that you can afford. Find a Mount Laurel realtor can be stressful, but it doesn’t have to be.
Roxanne Ardary, The Best Realtor in Mount Laurel, NJ
Mount Laurel, New Jersey real estate agents have a lot to offer. If you’re looking for Mount Laurel Real Estate, New Jersey has a lot to offer. Whether you are searching for a single family home, a townhome, or a luxury estate, I am the right realtor in Mount. Laurel, NJ. I know about all the available real estate in Mount. Laurel New Jersey, or Burlington County, and can show you properties that contain all the must-haves on your list of what you require in a new home, while staying within your carefully crafted budget.
Burlington County has over 40 municipalities, and has everything from brand new construction to captivating historic Victorian homes. Whatever kind of home you want, I can find it for you. Because the listings in the area are continually changing, I have an interactive map on my website that can assist you in locating available homes that match your criteria. This feature allows you to regularly receive alerts when new listings that may interest you hit the market.
Real Estate in New Jersey
As your real estate agent, I am your trusted guide. Too often, people want to purchase a home because it has lots of upgrades and amenities and looks amazing. This is especially common for first-time homebuyers. But good, honest real estate agents, Mount. Laurel, NJ has only good ones, will educate you on the importance of investment, location and where the true value of a good home lies. When considering Mount. Laurel real estate, New Jersey is my home—an agent who is as honest and educated in the industry as you will find.
I will always protect your interests, and will take the time to explain the bigger picture involved when choosing your home. I will guide you through all the complex components of home buying, educating you on important factors such as comparable properties and prices, what to look for when viewing a home, warranties, whether your budget will allow for upgrades and repairs, and any of your future possible needs. I will do everything I can to inform you of everything you need to know in order to make the very best decision you can.