Distressed Does Not Mean Falling Apart

Dated: August 25 2017

Views: 171

Since I first received my real estate license I have always been attracted to distressed property. I think with my contracting background and my love for real estate, distressed property is just perfect for both of those worlds.

Why you may ask??

When I think of "distressed" I think "GOOD DEAL" and when you are an investor buying homes to flip or to hold on to rent out this means everything!! Distressed does not always mean the property is in bad shape. As an example, a home may be in turn key condition but is currently going through a bankruptcy or divorce. Both of these would make the property distressed - OR - distressed can mean the property has been vacant for 12 months and in foreclosure or in the middle of probate. Some of these homes are literally falling down and some are not that bad.
I have always believed that a property in distress means an opportunity for another family! 

Distressed property will either be bought by the bank in the foreclosure process or by a private individual. If the home is in the middle of a divorce, bankruptcy or probate it will be listed and sold by a Realtor. Not all divorce or bankruptcy cases end up with the persons home being sold but often times that is the case. The best real estate deals are found by speaking directly with the home owner BEFORE the home goes on the MLS. That has always been my specialty! Sitting inside peoples living rooms and making deals. If you have any questions or need some help with your distressed property call me Daryl Hanna 702-218-4585

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Daryl Hanna

Daryl Hanna and The Hanna Group are committed to bringing the respect back to the real estate profession through making sure each and every transaction is handled with the utmost care & respect!! The ....

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