Tips on Buying a Foreclosed Home

As newly appointed CEO of Global Capital Advisors, Kevin Fitzgerald draws on extensive real estate experience garnered in his previous role with U.S. Advisor, LLC (DBA U.S. Advisors, LLC). In addition to acquiring of $2.4 billion in properties, including foreclosure properties, while at U.S. Advisors.

When you buy a foreclosed real estate owned (REO) home, you deal directly with the bank that financed a defunct loan. This most likely enables you to get a good value on the property, though it may require you to navigate legal and logistical processes yourself. You may need to do your own research to determine the home’s market value and thus what a competitive offer would be. This frequently requires you to determine how fast the home is likely to sell, which helps you to decide whether to make a low or a high offer. If the home is projected to sell quickly, then it will be necessary to make a high offer.

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