BUYING A FORECLOSURE:
Although money can be made, by purchasing foreclosures, it is a complicated business & will require some expertise or at least some assistance & representation by an experienced Broker that is familiar with the pit falls & obligations.
Bidding blind is disastrous and will only lead to heartache and disappointment.
SIR can assist & walk you through the entire process as a Buyer or Bidding Agent, representing the Investor-Buyer.
Most "GOOD DEALS" come about because of a "LACK OF TIME" to use alternative methods, especially in a High demand area like Macomb County, where there are always several buyers for a priced right home.
When an offer is made on a foreclosure property, there is usually more then one party to contend with:
The Sheriff, Occupant, Attorney, Primary Mortgage Co, and any other alternate Liens or Mortgage Companies.
They all must be dealt with. SIR is a specialist in negotiating a discounted payoff or settlement on the outstanding liens & obligations. Proper representation insures, you end up with a free & clear property and a salable commodity once you have put out your money.
BE FOREWARNED & PREPARED.. This can take time, from Days to Several Months If it gets complicated, you must be in a position to wait. This is often the reason the average consumer cannot purchase distressed property. They do not have the CASH IN HAND or they cannot wait for an undetermined amount of time to close and take possession.