Looking for a great deal on Denver real estate? Buy below market with a foreclosure or short sale Denver home today
With the economy improving and interest rates gaining strength, the banks will be unloading their shadow inventory of foreclosed Denver homes. And they would rather you negotiate to purchase a short sale or pre-foreclosed Denver houses before they as the bank become part of their REO inventory.
Foreclosures and short sale Denver homes are in short supply, but they do exist and will forever come and go as they hit the Denver real estate market. You’ll need to act quickly to snap one of these properties up before others get their before you do. Often these properties involve multiple offers and the banks can be a bit choosy as to which offer they accept.
Home buyers and investors often make the mistake of thinking the bank is in trouble and must sacrifice the price. That could not be further from the truth. Banks are not in trouble and have rebounded from the troublesome financial days suffered between 2008 – 2012. When banks put a property on the market they have done their homework and rarely are they off from the market valuation for a property. In fact they are usually more competitive than other Denver homes on the market.
While you will need to hurry to pick up an opportunity, you’ll need to be patient to see if the bank will accept your offer as they often wait a week or so before making any decision as they are trying to seek out the highest and best offer they can get. You’ll need to determine whether you have the patience to wait out the process of buying a property offered via a short sale as they can take months to close. It may and may not be in your best interest to wait. To know whether they are in your best interest you’ll need the advice of a seasoned real estate professional who can provides you with the benefits and pitfalls of securing Denver houses via a short sale or pre-foreclosure.
If you would like a current list of Denver homes and properties that are foreclosures and short sale opportunities, then fill out the form below or drop us an email or phone call.