Sonoma County Ca Foreclosures Bank Owned Homes

1. Where are the market opportunities NOW?

Bank Owned Properties aka REO (Real Estate Owned is a Lenders term when the asset, or property is currently owned by them)
Foreclosure (Bank has taken possession, same as REO)
Reduced priced homes (Selling home owners because of lower priced foreclosed homes in their neighborhood)
Short Sales (Trying to Sell the home for less than what is owed to the banks. Home owners who have either stopped making their mortgage payments by choice or necessity or foresee problems making payments going forward. Short sales usually take a long time to complete while the lender figures out if the short sale is the only option. The home owners have to show true financial distress/hardship. A submitted offer can sit at the lenders office for quite a while allowing other possibly better offers to be submitted. Short Sale means the home is worth less than the mortgage(s).)

2. How and Where to Start

Finance or Cash (When financing, knowing all costs a Buyer will incur, not only at the time the loan is made but ongoing monthly and annual obligations. ie. principal, interest, taxes and home owners insurance)
Interest Rates and Loan Costs (We help explore all options and get it in writing. We recommend talking with 3 different lenders to get the best price)
Loan Programs (You'd be amazed at the varying kind of loan programs and buyer down payment assistant programs lenders are offering at great rates. Fixed rate loans. Not the "surprise" loans that created this foreclosure market.)
Determine Affordability and Comfort Level (setting a budget and staying with in it)

3. Find Value Navigate and Understand the Foreclosure Purchase Process

We will discover your preferences and needs (We ask a lot of questions during our research)
Home Search (We provide lists of the best priced homes with-in your budget and try to match your preferences accordingly)
Education (Explaining the process and staying in constant communication from the first step to closing on your new home)

Have Questions or Want to Start Researching Options,
Contact Us Here or Call Don Neece at 707-953-8332