REO - Real Estate Owned is a foreclosure when a property ownership goes back to the lender. I highly recommend working with an experienced Realtor in foreclosures that can help you throughout the process and show you the houses that you would like to see and guide you through the purchasing and the negotiation process. I would be more than happy to help. Just let me know.
RE/MAX Real Estate Associates
I current represent Buyers and Seller in the 77026 zip code area. There is currently quite a bit of Buyers looking to buy in that area. The real question becomes whether or not you are willing to invest the funds and time necessary to completely fix the property up in order to get the market value of the finish product. Second you may want to do an inventory of what is your time worth to you as an individual and business wise. With all of that being said, would you be better off rehabbing the property or just selling it as is. Based upon your question I get the sense that you would like to sell the property as is! This make great sense to me because the average individual that would purchase a fixer upper for personal use will want to fix it up the way they want it! Most will not necessary like your personal taste if you fixed it up. 50% of Investors will bring any property that they purchase up to the standard to bring them the most revenue possible. The other 50% is just looking to get by! Either way the amount of revenue that you receive from the sell of the property after any and all expense just might be the same, especially after you fact what your time is worth to you! If you are interested in becoming a Real Estate Investor than this would be your opportunity to become one. I am qualified to assist you regardless of your decision. And just remember that the choice is yours to make! Thank you for allowing me to share my business and professional opinion with you!... more