REO And Foreclosure Training To Grow Your Client Portfolio
In light of the recent economy, REO properties (real estate owned by lenders) and foreclosures have grown tremendously. Many people have lost their jobs as companies downsized or went out of business, causing lots of homeowners to lose their properties.
With our REO and foreclosure training, you'll be equipped in how to deal with this special niche of properties that are usually not in the best shape and not being valued for what they once were.
Working With Foreclosures
Foreclosures are homes that were repossessed by a lender from a borrower that could no longer keep the payments current. Many times the homeowners may have been living in the property for quite some time without making payments, oftentimes neglecting ongoing repair and maintenance to the home.
These properties usually require a little TLC, and working with foreclosures can be quite different from working with "regular" homes. Buyers usually expect a better deal on these homes, and they are typically not nearly as showable as a regular home.
Working with foreclosures can also be very lucrative to a real estate agent. The homeowner is usually a lender who doesn't want to keep the property on their books and is looking to sell fast. These are really motivated sellers, so your chance for a commission can come much faster than usual.
How To Sell REO Properties
REO properties are usually owned by larger lenders that have taken back a large number of homes in foreclosures. These lenders certainly need their money to lend, so moving the REO properties off their books is a high priority for them.
Some of the ways lenders sell the REO properties quickly include:
With REO and foreclosure training, you'll learn how to watch for these kinds of properties coming up for sale and how to attract buyers quickly.
- Immediate access for inspection
- Low down payment
- Help with closing costs
- Repair allowances
- Removal of taxes or liens
- Open bidding
Find REO And Foreclosure Training
To find REO and foreclosure training to help you specialize in this niche, review some of the recommended courses you see here or use the search box below to find the training courses we have available on this and many other topics!