You are in: Home > Distressed Homes > Distressed Properties
Distressed Properties: What Are They?
Distressed properties are homes that are in the process of being foreclosed on by a bank or a lender. You may have also heard of distressed properties being in the pre-foreclosure stages. Distressed property can include HUD foreclosures, as well as bank owned homes.
Click on the Map to Start your Foreclosures Search
Why Are Distressed Properties a Good Deal?
There are many reasons why distressed properties make a good deal in the real estate industry. Whether you are looking for a home to live in, or a lucrative investment, distressed properties are a very good option. Distressed properties can often times be bought well below market value. This is due in large part because the bank is simply looking to get rid of the property. They are making no money by sitting on distressed properties, so they feel that the best thing to do is unload the home as quickly as possible. This process definitely benefits the buyer.
Are Distressed Properties in Good Condition?
Just like any other home, distressed properties come in all different conditions. You may be able to find some distressed properties that do not need any repair work, but on the other hand, you may have to complete a total renovation. It all depends on what you are looking for, and how much money you want to spend.
Where to Find Distressed Properties
Distressed properties can be found by searching the newspaper. This is what most beginners do because they are not aware of any other options. Some people also like to find distressed properties by directly calling the lenders.
But if you are interested in more than a couple of local distressed properties, you will want to become a member of an online service that provides a database of bank foreclosure auction. Foreclosure Repo Auction offers members a database of over 1,500,000 distressed properties. They are updated on a daily basis so that you only get the best information.
By signing up for a no obligation 7-day trial membership, you will be able to start finding distressed properties today.
