Reno Foreclosures - Reno Bank Owned Properties
Reno foreclosures are a sign of the economic times, if you are looking for bank owned properties in Reno Nevada contact me today and let's get started. There is a difference between a foreclosure and a short sale. A short sale is where the owner of a home is trying to negotiate with their mortgage company to accept a lesser pay off than the homeowner owes. About 80% of these do not close escrow and expect a long frustrating escrow.
A foreclosure is where the bank has gone through the legal process and has taken possession of the property. Now if you write an offer on one of these properties you are negotiating directly with the bank and they want these properties sold and off of their books. They will typically price the home based on what their Reno Realtor is telling them. This will usually be about 3% under the market and if they get a strong offer will give it very strong consideration.
How to locate Reno Foreclosures
You will see lists posted in the newspapers and on some websites of notice of defaults. This is the early stages of foreclosure and from this point will usually take about 4 months before the bank takes over the property. Once the bank owns the home there are certain agents in this area that represent these banks and will put the homes on the Reno MLS just like any other property. I know and work with these agents to get the most up to date homes sent to me daily, these lists can be overwhelming. If you are looking for these homes it is important for you to have an area of town or two that you are interested in and a price range so I can be very specific when sending you Reno Bank Owned properties.
Paying a fee for lists of foreclosures
There are companies out there looking for your money to send you vague and out of date lists of foreclosures. If you are looking at one of these companies I would Google them and look at the problems that some of their customers have had, don't waste your money or time on these services.
Fill out the short form below and give me some specifics and I will start getting you some homes to look at today. If you are working with another agent please contact them and have them do the same, if they do not offer this service you might want to re think your strategy. I have been doing this for 24 years in the Reno area and will get you a good deal on your Reno Real Estate investment.
Call me for an imediate response at 1-800-692-1193 or fill out the form below and be specific on what you are looking for.
It is impossible for me to keep an up to date link here on the website as it would change daily, just fill out the form below and let's get started today.
Reno Homes For Sale by Community - Reno Homes For Sale