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No bank or lender wants to end up owning a foreclosure property. Such properties require constant upkeep and most of them require a great deal of work to get them on the market and sold at a good price. Lenders are in the business of making money off of mortgage...
REO preservation companies have over the past decade become a vital part of the real estate industry. Beginning with the housing market crash of 2008, far too many banks became the owners of REO and foreclosure properties, and found themselves in the unexpected...
Choosing the right restoration and preservation service for your REO property is an important decision. There are so many things you need to account for in your choice, and you need someone you can trust to take care of the property and be a reliable partner,...
Dealing with REO properties is a hassle and a headache for the lenders who own them. There’s no doubt about that. No lender really wants to be saddled with a property on which they were forced to foreclose. There’s an important relationship between agent and broker in...
Just about everyone relies on a contractor at some point. When you have a trustworthy contractor in your corner, they’re worth their weight in gold. Unfortunately, most banks and lenders that hold REO properties don’t have the resources to keep contractors on...
Since 1978, it has been illegal to use lead paint in homes. This doesn’t mean, however, that there isn’t lead paint in your home. For example, if you live in an older home that was built before 1978 and has never been repainted, it’s entirely possible that there is...
When you own a piece of property, your main goal is to add as much value to the property as possible to get a strong return on investment. In addition to making sure that the home you own is well-maintained, you also should look into boosting value by improving the...
Property preservation contractors have a number of responsibilities to handle, including maintaining a piece of property so that it’s ready to sell. However, the number one responsibility of any contractor is keeping clients happy, which can sometimes feel like an...
If you’ve ever researched real estate property, then you may have come across the designation REO. When you see these letters, it indicates that the property you’re viewing is real estate owned (REO), meaning it is owned by a bank instead of an individual person. A...
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- How to restructure your thinking to help you sell more REO properties with less effort
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