Most of the time these investors put money into the home and sell them as a turn-key home. Many buyers like the fact that they do not have to deal with a short sale and have a great property to call home.
I hope this answers your questions. Feel free to contact me to discuss this further or if you have any additional questions.
A "conventional" sale generally means that a seller is selling to a buyer. Perhaps the seller is making a profit. Perhaps the seller is breaking even. Perhaps the seller is losing money, but bringing money to closing.
You can contrast a "conventional" sale to a short sale or a foreclosure. In a short sale, the seller is selling to the buyer for less than what is owed on the property AND the seller is requesting the lender's approval for the difference. In a foreclosure, the seller is the bank or lender, not an individual owner.
If the property was foreclosed on a month ago, either: (1) the bank owns the property and is selling it, or (2) an investor or someone else bought the property from the bank and is now reselling it.
If it's the former--the bank is selling the property--then it's not what I'd call a "conventional" sale. It's a foreclosure or REO.
If it's the latter--someone bought the property from the bank and is now reselling it--then, yes, it would be a conventional sale. You'd be buying the property from an individual (or an LLC or some other entity).
Your agent (use your agent, not the listing agent) can clarify the situation for you.
Hope that helps.
If it was foreclosed on a month ago, there is a new owner that can sell it now.
Profit has nothing to do with any of the sale types.
Usually a Foreclosure is BANK OWNED. and a Standard sale is not owned by a bank.
So it is possible, that while a property could have been foreclosed upon, an independent owner as opposed to a bank owns it. There are some other things such as marketing etc.
Harold Sharpe - Broker
So Cal Homes Realty
California Department of Real Estate Broker License # 01312992
A standard sale does mean the owner has equity in the property and/or will be selling the property with enough proceeds to pay off all liens on the property.
If the property was foreclosed/sold at auction, someone may have purchased it and is now selling it for more than they purchased it for - therefore, making it a standard sale.
Or, maybe the Realtor listed it incorrectly?