Welcome To
Buy Distressed Real Estate .com
The Short Sales / Foreclosures/ Bank Owned / REO REALTORS®
Samir Bachour REALTOR® | 4040 E Camelback Rd, Suite 165 Phoenix AZ 85018 | 602-614-4622 | ElectricRealty@live.com
Click on links below for general listings of distressed properties on ARMLS
Foreclosures & Short Sales Listings, R.E.O./Bank Owned Properties in metro Phoenix, Arizona AZ:
Properties needing repairs & FIX UP / Fixer Uppers in Metro Phoenix AZ:
How to buy Foreclosures, Short sales, Bank Owned Properties / REO's
Welcome to buydisstressedrealestate.com, your go-to source for acquiring real estate short sales and foreclosures in the Metro Phoenix area of Arizona. Our goal is to help you become an expert in the type of homes you’re interested in by providing education on how to make informed home buying decisions. Your satisfaction and future referrals are our top priority.
To get started, contact us for thorough search results. We offer various methods for successfully purchasing pre-foreclosures, bank-owned properties, short sales, or regular homes, and we’ll teach you the system that best suits your needs. We believe in educating you by providing all the facts, rather than being pushy. You’ll be able to use the latest high-tech features of the Multi Listing System (MLS) to save time and make the process easy, all from the comfort of your own home.
Short Sales and Lender Approved Short Sales can often be the best deals on the market. Lender approved short sales generally close much faster than those that still need approval and are listed at a price that the lender will accept. If a short sale has not yet been approved, the list price is chosen by the listing agent (REALTOR®) and may not reflect the final sale price.
Bank Owned Properties, also known as Foreclosures or REO’s, and short sales may result in bidding wars between buyers and often sell at or above asking price if they are initially priced below market value. It takes experience to determine the right offering price to successfully obtain a property without overpaying. Due to the added work involved, many real estate agents (REALTORS®) either fear working with foreclosures/REO’s and short sales or no longer wish to write offers on them after a few unsuccessful transactions. This is especially true if the properties are listed in the lower-end price bracket. Please contact us for more information.
REO’s, short for Real Estate Owned, are Bank Owned properties that have gone through the foreclosure process and have not sold at the Trustee Sale (foreclosure auction/sale). At the foreclosure sale, which generally takes place on courthouse steps or at an attorney’s office, the property is auctioned with an opening bid starting at loan balance + accumulated interest + all miscellaneous fees. Payment is made in cash and the property is sold as-is, including existing liens against it and occupants to deal with. If such a property is not sold at the Trustee Sale, it is then “repo’ed” by the lender who removes encumbrances (liens & occupants) in order to make it eligible for title insurance before listing it for sale with a broker. Note that no Residential Seller’s Property Disclosure Statement (SPDS) or guarantees are made by the seller about the condition of the property, so any potential defects should be thoroughly investigated during the allocated inspection period.
While bank-owned properties/foreclosures or REO’s and short sales are usually good deals, buyers must be informed and educated about surrounding comps to make an appropriate offer. Factors such as cost of rehabilitation repairs, remodeling, upgrading (if needed) must also be factored in to ensure a bargain by project completion.
The process of making an offer: Bank-owned properties/Foreclosures/REO’s are listed for sale by listing agents (REALTOR®) representing the banks’ interest and not the buyers’. Selling banks do not allow their listing agents (REALTORS®) to represent both parties (dual representation) due to clear conflict of interest. This is where we come in.
PhotoVideoTours™ of properties of interest can also be produced for our out-of-town buyers either with retainer or for a small fee to cover our expenses. This professional package include up to 50 photos and a walkthrough unedited video.
Plans are available for investors wishing to make multitudes of “lowball” offers. Click this link for details or contact Samir to determine the best solution for you.
Interested in making offers on unlisted pre-foreclosures and unkept properties? We can help too.
Talk to us
About ME
I will be your first point of contact in order to determine your Real Estate acquisition need and goals.
Languages spoken: Fluent in English, French and French Creole. Semi fluent in Spanish and Arabic.
Strong points: Marketing, negotiations, tech savvy, real estate photography, mechanical oriented, some knowledge of Arizona construction, and very easy to get along with.
18 years of Real Estate experience.
